2022 guidance

New Americold CEO faces tough questions on recent performance

Nothing held back on Q4 Q&A

Labor headwinds and COVID-related work outages have crimped food production across the globe, a trend that has spilled into the new year. The declines are weighing on the financial results of cold storage facility operator Americold Realty Trust.

Americold (NYSE: COLD) reported fourth-quarter 2021 adjusted funds from operations (AFFO) of 31 cents per share, 16% lower year-over-year. Core FFO beat analysts’ expectations by a penny. The company booked a net loss of 3 cents per share in the period.

G...

https://www.freightwaves.com/news/new-americold-ceo-faces-tough-questions-on-recent-performance

Universal Logistics sees bridge blockade as ‘blip’ to strong 2022

Stock pops 7% on better-than-expected guide

Universal Logistics Holdings “had its share of challenges” during 2021. Port and supply chain congestion and a tough labor market weighed on production at the auto and truck OEMs, the Michigan-based asset-light transportation provider’s primary customer base.

“Yet, despite these challenges, Universal’s business model continued to deliver impressive results,” CEO Tim Phillips stated in a press release. The company reported record full-year revenue in 2021, up 26% year-over-year to $1.75 billion,...

https://www.freightwaves.com/news/universal-logistics-sees-bridge-blockade-as-blip-to-strong-2022

Maersk adds US final-mile network in $1.8B deal

Maersk adds to U.S. inland portfolio

A.P. Moller – Maersk announced Wednesday the acquisition of U.S.-based forwarder Pilot Freight Services in a $1.8 billion deal. The deal is the latest in a string of acquisitions that are transforming the company historically known as a shipping line into a global logistics outfit.

Headquartered in Glen Mills, Pennsylvania, 50-year-old Pilot provides first-, middle- and final-mile transportation, specializing in big and bulky freight delivery. The company operates 87 facilities throughout North...

https://www.freightwaves.com/news/maersk-adds-us-final-mile-network-in-18b-deal

Werner beats Q4 estimates, points to organic growth opportunities

Fourth-quarter adjusted EPS of $1.13 bests consensus estimate of 97 cents

Werner Enterprises said on a call with analysts Thursday it plans to grow revenue by 10% on average over the next five years. The bulk of that is expected to be achieved through organic growth initiatives versus acquisitions.  

Werner (NASDAQ: WERN) reported adjusted earnings per share of $1.13 Thursday after the market closed. The result was ahead of the consensus estimate of 97 cents and the year-ago result of 89 cents.

The number included 24 cents per share in gains from equipment sales, a...

https://www.freightwaves.com/news/werner-beats-q4-estimates-points-to-organic-growth-opportunities

Old Dominion eyes operating ratio in the 60s

Old Dominion calls for industry-leading results to continue

Less-than-truckload carrier Old Dominion Freight Line raised its long-term margin target Wednesday. The company now expects its operating ratio to improve to 70% (30% operating margin) over time, potentially dipping into the 60s, versus the prior target of 75% (25% operating margin).

The new margin forecast is well ahead of what Old Dominion’s competitors are achieving. By comparison, LTL carrier Saia (NASDAQ: SAIA), which has been executing initiatives aimed at raising yields and improving...

https://www.freightwaves.com/news/old-dominion-eyes-operating-ratio-in-the-60s

Another quarter, another record at Landstar

No seasonal letup in demand during January, Landstar says

After logging the highest sequential improvement in truck volumes from the third to fourth quarters in company history, freight broker Landstar System said normal seasonality still hasn’t kicked in as there has been no letup in demand so far in January.

The Jacksonville, Florida-based company reported fourth-quarter earnings per share of $2.99 Wednesday after the market closed. The result was a quarterly record and 11 cents ahead of its raised expectations (at the midpoint of the range) at the...

https://www.freightwaves.com/news/another-quarter-another-record-at-landstar

Knight-Swift sees big Q4, expects hypergrowth to moderate in 2022

Growth rates to moderate in 2022

Knight-Swift Transportation saw financial results improve across all four of its segments during the fourth quarter. Most notable may be the sub-75% adjusted operating ratio it recorded in its truckload segment. Significantly higher rates and gains on equipment sales were the drivers.

Knight-Swift (NYSE: KNX) reported a big headline earnings beat Wednesday. Adjusted earnings per share for the fourth quarter were $1.61, well ahead of the $1.43 consensus estimate and more than 70% higher...

https://www.freightwaves.com/news/knight-swift-sees-big-q4-expects-hypergrowth-to-moderate-in-2022

2022 to build on record 2021, flatbed carrier Daseke says

Tight flatbed truck capacity, strong end markets to support 2022 guidance

Flatbed operator Daseke posted record full-year 2021 results Tuesday, with management calling for further improvement in the new year. A multiyear turnaround, which consolidated past acquisitions and reduced its fleet size and debt leverage, led the company to a 90.9% full-year adjusted operating ratio, 270 basis point better year-over-year.

The company’s fleet ended 2021 approximately 15% (870 units) smaller since the restructuring initiatives were implemented in 2019. Efforts to clean up the...

https://www.freightwaves.com/news/2022-to-build-on-record-2021-flatbed-carrier-daseke-says

Prologis: Logistics real estate vacancies will see all-time low in 2022

Growing e-commerce fulfillment and safety stock additions push warehouse availability to historic lows

Management from logistics real estate investment trust Prologis Inc. said during a call with analysts on Wednesday that the outlook for available warehouse space continues to tighten. The catalysts: increased consumption, demographic growth, growing e-commerce fulfillment demand that requires faster service and many supply chains looking to rebuild inventories.

Prologis (NYSE: PLD) estimates a 25% increase in inventory will be required as inventory-to-sales ratios are 10% lower than before the...

https://www.freightwaves.com/news/prologis-logistics-real-estate-vacancies-will-see-all-time-low-in-2022

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