As we neared the end of 2021 and took a look at third-quarter fleet earnings reports, the news looked good — good enough that the stock prices of the group were up 15.6% during the earnings reporting season, compared to the Standard & Poor’s 500 Index that was up 7.6%.
How did publicly traded trucking fleets perform financially as the roller-coaster year of 2020 headed back uphill in the third quarter?
Ohio-based Falcon Transport has ceased operations, notifying its truck drivers over the weekend to stop working and leaving some stranded in the field.
Estes Express Lines has bid $15 million to acquire assets of the Eastern Freight Ways and Carrier Industries divisions of the bankrupt carrier New England Motor Freight.
LTL carrier New England Motor Freight and its subsidiaries have voluntarily filed for Chapter 11 bankruptcy in New Jersey, intending to facilitate an orderly wind down of its operations.
With our 2019 economics and truck volume forecast in place, where should that take us in terms of earnings, and where are we in the course of the earnings cycle for truckers? Commentary from the February issue of Heavy Duty Trucking magazine.
Knight-Swift Transportation Holdings is growing its profits through more efficient operations, rather than by adding trucks to increase capacity, as it reported fourth-quarter 2018 results that were better than analysts expected, especially in Swift Truckload.
J.B. Hunt Transport Services announced fourth quarter net earnings of $88.7 million were down compared to last year’s $385.3 million, but revenues were up for the year by 20%.
Despite “robust organic growth” thanks to e-commerce and freight brokerage, XPO Logistics’ third-quarter earnings came in lower than analysts’ expectations, as the company cut its earnings forecast due to the collapse of a large UK customer.
Old Dominion Freight Line benefited from the strong economy with a record-setting quarter. The North-Carolina-based less-than-truckload carrier reported on Oct. 25 that its third-quarter revenue rose 21.2% to $1.06 billion and that its diluted earnings per share grew by 71% to $2.12.
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