Not all carriers are riding high on the current trucking business environment. While a major less-than-truckload player turned a profit following a loss a year earlier, a major flatbed and specialized carrier trimmed its losses compared to a year ago, while a third-party logistics provider was barely in the black.
Less-than-truckload carrier ABF Freight is getting ready to begin negotiations with the Teamsters National Freight Industry Negotiating Committee in December on a new collective bargaining agreement.
Trucking and logistics provider ArcBest reported third quarter numbers showing net income improved a little more than 14.5% to $14.8 million, or 56 cents per share, 2 cents below Wall Street expectations.
ArcBest announced it will apply space-based cubic minimum charges for less-than-truckload shipments, effective Aug. 1.
The parent company to less-than-truckload carrier ABF Freight and others saw its first quarter losses grow despite healthy shipment growth and improved pricing, while a truckload carrier saw lower profits but beat expectations.
The parent to less-than-truckload carrier ABF Freight and other trucking and logistics operations reported that its fourth quarter net income fell in both the final quarter of 2016 and all of last year.
The parent of a company primarily known for its less-than-truckload fleet saw its profit fall by nearly a third while a separate carrier that provides long-haul truckload and other services moved into the red, according to newly released earnings numbers.
The week wrapped up with more fleets reporting their second-quarter earnings. Like many that have already advised, profits for three were lower, while the largest trucking company in the nation and another a few years ago that was on the brink of extinction showed improvements.
The parent to less-than-truckload carrier ABF Freight moved into the red in the first quarter of the year, according to its earnings report released Friday, as many other companies are also reporting weaker performances compared to a year ago
Earnings season continues this week and with it are the first numbers from major trucking suppliers, such as Meritor, Eaton and Wabash National, in addition to those from trucking operations ArcBest and C.H. Robinson.