Less-than-truckload company YRC announced it is getting a $700 million loan under the CARES Act – while the U.S. Treasury gets a 29.6% equity stake in the company.
Bad weather, higher costs for driver pay, and pressure on rates as capacity loosens were all factors in J.B. Hunt Transport Services’ disappointing first-quarter earnings.
Universal Logistics Holdings is projecting lower second-quarter earnings, just the latest trucking operation indicating it will fall short of analysts' expectations in a challenging business environment.
Trucking company Swift Transportation reported a drop in earnings for the final quarter of 2013 but an increase for all of last year.
Trucking and parcel delivery provider FedEx has released second quarter fiscal earnings showing gains in both revenue and profit. FedEx is increasing its forecast of full-year earnings per share growth to 8% to 14% above last year's adjusted results.
Less-than-truckload carrier Old Dominion Freight Line on Tuesday updated its expectations for growth in tons per day and revenue per hundredweight for the fourth quarter of this year, saying it now expects a larger increase in tons per day.
Two of the industry's large, unionized less-than-truckload carriers announced their third quarter results Tuesday, with the non-asset-based Panther Expedited helping Arkansas Best and problems at YRC Freight weighing down YRC Worldwide.
Truckload carrier Knight Transportation has reported slightly higher third quarter revenue while income is lower from the same time a year earlier.
The parent company of the carrier Covenant Transport and others, Covenant Transportation Group, has announced third quarter net income of $2 million compared with $1 million the same time a year ago. Company officials cited a higher unseated truck percentage and new hours of service regulations as factors.
The Arkansas-based fleet USA Truck has improved financial results for the third quarter and the first nine months of the year, with a 13.5% increase in revenue and a much smaller net loss than a year ago.
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