2022 guidance

Universal Logistics beats in Q1, ups expectations for 2022

A black tractor pulling a white Universal trailer

Multimodal transportation and logistics provider Universal Logistics Holdings reported record quarterly results during the first quarter of 2022. The company lifted its full-year 2022 outlook and issued second-quarter guidance ahead of the consensus estimate.

Universal (NASDAQ: ULH) reported earnings per share of $1.56 after the market closed Thursday. The number was nearly double the year-ago result and outpaced its implied guidance in the high-80-cent range.

“Our efforts evaluating operating...

https://www.freightwaves.com/news/universal-logistics-earnings-q1-2022

Large truckload carriers say recent downturn not hurting them

A white tractor and white trailer on highway

While a host of unfavorable trucking data points appeared by the end of the first quarter, with trend lines declining further to start the second quarter, many executives at the nation’s top fleets are presenting a much rosier outlook than the data suggests. During the first-quarter earnings season, management teams from publicly traded carriers acknowledged softness in the spot truckload market but said the loosening in capacity won’t likely hurt them.

The growing consensus in the industry is...

https://www.freightwaves.com/news/large-truckload-carriers-say-recent-downturn-not-hurting-them

Werner beats in Q1, expects spot-market carriers to fail

A white Werner tractor with a white trailer on the highway

Werner Enterprises maintained its 2022 outlook on a call with analysts Tuesday after the market closed. Management from the company noted that freight demand for its one-way truckload fleet was strong to start the quarter but “moderated in March from strong to very good.”

Werner (NASDAQ: WERN) reported first-quarter adjusted earnings per share of 96 cents, 9 cents ahead of the consensus estimate and 28 cents higher than the year-ago mark. The result excluded one-offs including an...

https://www.freightwaves.com/news/werner-enterprises-earnings-q1-2022

Daseke’s outlook calls for flatbed rates to remain strong

A tractor hauling a covered flatbed trailer

Management from flatbed truckload provider Daseke told analysts on its first-quarter call Tuesday that demand continues to “outweigh available capacity.” The company reiterated its full-year 2022 guidance, indicating the number is more likely to move higher than lower.

CFO Jason Bates said there really isn’t any historical correlation between Daseke’s “contractually based, industrial-oriented business” and that of the dry van spot market. He said nothing in the company’s data shows that Daseke’s...

https://www.freightwaves.com/news/daseke-earnings-q1-2022

Schneider sees ‘healthy’ contract freight market

White Schneider tractor driving through heavy rain

Schneider beat first-quarter expectations Thursday and raised its full-year outlook citing favorable contractual rate negotiations, which account for the bulk of its revenue.

The company posted adjusted earnings per share of 57 cents, which was 3 cents ahead of the consensus estimate and 26 cents higher year-over-year. It also raised its full-year EPS outlook to a range of $2.55 to $2.70 (from $2.35 to $2.55), compared to the consensus estimate of $2.53 at the time of the print.

“When we look at...

https://www.freightwaves.com/news/schneider-earnings-q1-2022

Forward Air to hit 2023 EPS target a year early

White Forward Air trailer being pulled by a white tractor on highway

Management from Forward Air said Thursday that March was the best month in the company’s history, with its less-than-truckload segment experiencing three of the highest tonnage weeks on record. The comments came on its first-quarter call, which highlighted the progress the asset-light trucking company has made transitioning its freight mix away from low-paying, light shipments to heavier loads. The efforts were undertaken to improve density and yields.

Forward reported record revenue, operating...

https://www.freightwaves.com/news/forward-air-earnings-q1-2022

Landstar model partially insulated from spot rate chaos

A blue rig hauling a Landstar trailer on the highway

Freight broker Landstar System achieved more financial records during the 2022 first quarter. Fresh highs in revenue, gross profit and net income were some of the highlights. The Jacksonville, Florida-based company reported earnings per share of $3.34 in the quarter, well ahead of the initial guidance range of $2.70 to $2.80 provided at the end of January.

President and CEO Jim Gattoni addressed recent weakness in the spot truckload market on a call with analysts Thursday. He said the declines...

https://www.freightwaves.com/news/landstar-earnings-q1-2022

Knight-Swift sees new EPS floor; trailer pools help mitigate cyclicality

A red Knight-Swift tractor with a white trailer crosses a narrow bridge

On its first earnings call in four years, management from Knight-Swift Transportation laid out a bullish long-term thesis for its business. It believes transportation providers with large trailer pools will continue to be the winners moving forward. The near-term outlook for smaller carriers was less rosy.

Knight-Swift (NYSE: KNX) reported adjusted earnings per share of $1.35 after the market closed Wednesday, 52 cents higher year-over-year and 9 cents ahead of the consensus estimate.

The result...

https://www.freightwaves.com/news/knight-swift-earnings-q1-2022

Prologis: Logistics real estate market in ‘unprecedented territory’

A truck backed up to a warehouse dock door

Logistics warehouse operator Prologis Inc. sees the market for space remaining tight for some time. On its first-quarter earnings call with analysts Tuesday, management said available supply in the market is still at all-time lows.

Prologis (NYSE: PLD) beat first-quarter expectations, reporting core funds from operations (FFO) of $1.09, 2 cents ahead of consensus and 12 cents higher year-over-year.

A sustained period of high consumer demand along with delays in new projects coming online have...

https://www.freightwaves.com/news/prologis-ups-guidance-as-warehouse-market-remains-tight

Prologis ups guidance as warehouse market remains tight

A Prologis facility in Houston

Logistics real estate investment trust Prologis Inc. beat first-quarter expectations and raised full-year guidance on Tuesday.

Core funds from operations (FFO) of $1.09 per share outpaced analysts’ expectations by 2 cents and were 12 cents higher than the year-ago period. Prologis (NYSE: PLD) expects 2022 net earnings to be in the range of $4.85 to $5 per share, 10% higher than its outlook provided at the beginning of the year. Core FFO guidance was raised nearly 2% to a range of $5.10 to $5.16...

https://www.freightwaves.com/news/prologis-ups-guidance-as-warehouse-market-remains-tight

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