Navistar International Corp. on June 5 announced it turned around its financial picture in the second quarter of the year, with net income of $55 million compared to a second quarter 2017 net loss of $80 million.
One of the nation’s largest third-party logistics providers, C.H. Robinson grew its first quarter profit and revenue by double digits – and less-than-truckload carrier Saia reported growth by larger margins.
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.
Trucking company YRC Worldwide Inc. narrowed its first quarter loss but was still in the red, but it expects an improvement in its finances later in the year.
Trucking and logistics provider XPO Logistics Inc. reported records for first quarter profit and revenue due to increasing e-commerce business.
A load of publicly held trucking fleets released first quarter 2018 earnings – Forward Air, Knight-Swift, Landstar, Covenant, Echo Global, and Heartland – with all but one reporting better numbers than the same time a year ago.
Two trucking fleets on Thursday reported increases in their first quarter net income compared to the same time a year earlier.
The first quarter 2018 earnings reporting season for trucking began on Monday as J.B. Hunt Transport Services Inc. said its profit moved higher compared to the same time a year ago.
Troubles continue to mount for Indiana-based trucking company Celadon Group Inc. after it launched an internal investigation into its accounting practices nearly a year ago.
Parcel and trucking giant FedEx posted a big gain in profits during its most recent quarter, while Daseke, the owner of several flatbed and specialized carriers, moved from a loss to a profit in both the final quarter of 2017 and for all of last year.