BMO

BMO’s numbers on trucking credit suggest worst may be over

Deteriorating credit conditions in trucking may have reached their low point. 

Quarterly data released by Canadian bank BMO, a major lender to the trucking industry, showed improved numbers for some of the key data on the financing extended to the transportation sector, about 90% of which is believed to be financing of trucking activities at the former Bank of Montreal (NYSE: BMO).

The category of gross impaired loans and acceptances, which is a measure of all the loans that a bank has determined...

https://www.freightwaves.com/news/bmos-numbers-on-trucking-credit-suggest-worst-may-be-over

Credit position of BMO’s transportation clients worsens in the fourth quarter

The hefty allowances and provisions taken by trucking lender BMO in the third quarter did not slow credit deterioration in the fourth, and those financial steps to protect the bank against bad debt continued to rise.

BMO is a leading lender to the trucking sector, both in Canada and the U.S. Its quarterly earnings report, and its breakout of data on its lending sectors, including transportation, provides insight into credit conditions among borrowers. The transportation sector at BMO is believed...

https://www.freightwaves.com/news/credit-position-of-bmos-transportation-clients-worsens-in-the-fourth-quarter

Lender BMO’s Q3 numbers show even more trucking credit deterioration

Credit conditions in trucking as measured by the quarterly earnings report of major lender BMO took a significant downturn in the three months ending July 31, though with one slightly positive sign.

Allowances taken by Canada-based BMO in its transportation group soared to CA$54 million ($40 million) in the third quarter. That puts the allowances figures at more than double what it was in the second and first quarters and is multiples above the allowances ever taken by the transportation group....

https://www.freightwaves.com/news/lender-bmos-q3-numbers-show-even-more-trucking-credit-deterioration

Survey asks who’s hauling cheap freight

Who is hauling cheap freight?

A recent survey by industry publication Overdrive looked into a question that is common among owner-operators: “Who is really hauling all the cheap freight?” The survey considered loads that are on the edge of or below a carrier’s profitability level. Asked if they ever hauled a load that lost money, a majority of the nearly 600 respondents said they had, while 38% said they had not.

Looking at reasons for taking unprofitable loads, most respondents fell into either...

https://www.freightwaves.com/news/survey-asks-whos-hauling-cheap-freight

Numbers at major truck lender BMO show worsening credit conditions

Further credit deterioration in trucking is evident in the quarterly earnings report of Canada’s BMO bank.

BMO (NYSE: BMO), the former Bank of Montreal, is one of the largest lenders to the trucking industry. Its transportation unit, purchased from GE Capital in 2015, has a customer base believed to be in the tens of thousands. Roughly 90% of its transportation sector is reportedly truck financing.

Provisions for credit losses at BMO in the quarter ended April 30 climbed to CA$56 million (U.S....

https://www.freightwaves.com/news/numbers-at-major-truck-lender-bmo-show-worsening-credit-conditions

BMO’s Q1 earnings show more credit deterioration in trucking industry

There are numerous ways of looking at the quarterly data from Canada’s BMO on the credit health of the trucking sector. None of them are positive.

Canada’s BMO is a major lender to the trucking industry in North America. In the bank’s first-quarter 2024 earnings released Tuesday, BMO’s gross impaired loans and acceptances, where BMO has identified a loan it believes it may be unlikely to recover, soared to CA$230 million ($170 million) up from CA$170 million a quarter earlier and CA$82 million...

https://www.freightwaves.com/news/bmos-q1-earnings-show-more-credit-deterioration-in-trucking-industry

BMO’s transportation sector data suggests trucking credit markets worsening

The fiscal fourth-quarter earnings of major trucking lender BMO, the former Bank of Montreal, appear to show a sudden and significant weakening of trucking credit metrics.

BMO’s transportation bank of business — its gross loans and acceptances — rose to approximately CA$15.7 billion ($11.6 billion) in the quarter, its highest on record. But within that rising book of business, gross impaired loans climbed to CA$170 million, up from CA$113 million a quarter earlier — a more than 50% increase —...

https://www.freightwaves.com/news/bmos-transportation-sector-data-suggests-trucking-credit-markets-worsening

Trucking numbers in BMO earnings again show weakening credit performance

The weakening truck market had barely revealed itself in the quarterly earnings of major trucking lender BMO until its second fiscal quarter this year.

But the third-quarter figures released Tuesday show a significant deterioration in the credit standing of its thousands of trucking customers, with allowances, impairments and write-offs all climbing.

BMO’s data is for the quarter ending July 31 at the former Bank of Montreal. Its current book of business in the transportation group, which is more...

https://www.freightwaves.com/news/trucking-numbers-in-bmo-earnings-again-show-weakening-credit-performance

Lo que las últimas cifras de BMO nos dicen sobre la salud del transporte por carretera: debilitamiento pero no rápido 

Las amortizaciones y provisiones de transporte en el banco canadiense BMO (NYSE;BMO), un importante prestamista del sector del transporte por carretera, siguieron aumentando en el primer trimestre de la empresa. Pero el deterioro no llegó a un nivel que pudiera considerarse grave. 

El grupo de transporte de BMO tenía una cartera de negocios en el primer trimestre, que finalizó el 31 de enero, de unos 13.700 millones de dólares canadienses. Dado que alrededor del 90% de la cartera de negocios del...

https://www.freightwaves.com/news/lo-que-las-ultimas-cifras-de-bmo-nos-dicen-sobre-la-salud-del-transporte-por-carretera-debilitamiento-pero-no-rapido

What latest BMO numbers tell us about trucking health: weakening but not rapidly

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Transportation write-offs and allowances at Canada’s BMO bank (NYSE; BMO), a significant lender to...

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