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.
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%.
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.
Navistar is bullish on the trucking industry and its own growth, as truck orders appear to show no signs of slowing and the company reports its Class 8 market share is up 2.7 points over a year ago while its 13L heavy engine share more than doubled.
Transportation provider Saia has posted a record second quarter earnings per share of $1.15, up from 68 cents a year ago.
Werner and Heartland, two major truckload carriers, reported second quarter earnings that showed increased profit and revenue compared to the same time a year ago.
The asset-light trucking and logistics provider Roadrunner Transportation Systems Inc. reported its first quarter operating results on Monday that showed a bigger loss than it reported a year earlier as it also said its now in compliance with government reporting rules.
Volvo and Paccar both reported that profits moved higher in the first quarter of the year as sales also improved, increasing their predictions for the Class 8 truck market for 2018.
Truck and engine manufacturer Navistar International Corp. on Thursday reported its net loss grew during its fiscal first quarter compared to a year ago, but one top official insisted the company is headed in a positive direction.
Two of the biggest names in trucking, one in the shipping business and the other in the manufacturing sector, reported their fourth quarter 2017 and full-year earnings on Thursday morning and both showed big gains.
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