Company earnings

Truck Talk: Inside earnings edition

The earnings season is typically about top and bottom lines: revenue, income and that EBITDA acronym that looks at income as a percentage of sales. But there’s more. We looked for insights from a few transcripts of Q3 analyst calls. Also, there is another industry shortage as acute as the much-publicized paucity of truck drivers.

Future fuel injection?

Cummins Inc. hasn’t said much about its plans to make a hydrogen-fueled internal combustion engine. But we know a little more following this...

https://www.freightwaves.com/news/truck-talk-inside-earnings-edition

Increased flying for Amazon Air helps ATSG to record Q3 revenue

A white jet with the ATI logo flies high into a blue sky.

Air Transport Services Group, a diversified air cargo provider, racked up another win in the third quarter of 2021 with record revenues and pre-tax earnings of $81.2 million compared to $5.6 million a year ago. 

Credit the strong e-commerce demand and an industry shortage of cargo capacity.

The Wilmington, Ohio-based company beat analysts’ consensus expectations Thursday with revenue of $466 million, up 15% from 2020, and adjusted earnings per share of 60 cents, a 46% increase. 

Management raised...

https://www.freightwaves.com/news/increased-flying-for-amazon-air-helps-atsg-to-record-q3-revenue

Uber posts first-ever adjusted profit as drivers return

Uber posts first adjusted profit in Q3 2021 earnings, good quarter for Uber Eats and Uber Freight

It’s official –– Uber has turned in a profitable quarter for the first time since becoming a publicly traded company in 2019.

The company’s Q3 earnings release revealed an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) profit of $8 million, a narrow margin but enough to get Uber over the hump and into the realm of profitability.

Uber (NYSE: UBER) also beat the consensus analyst estimates for revenue during a quarter when the company’s gross bookings reached an...

https://www.freightwaves.com/news/uber-posts-first-ever-adjusted-profit-as-drivers-return

Crude tankers still bleeding cash. Stars aligned for 2022 recovery?

crude tankers shipping

Container shipping is having its best year ever and dry bulk shipping its best since pre-financial crisis. Crude-tanker shipping is having its worst year since the 1980s.

Tanker executives speaking on conference calls and analysts writing in client notes continue to highlight the green shoots, yet earnings remain stubbornly and deeply in the red.

On Wednesday and Thursday, tanker owners reported huge losses for Q3 2021: Euronav (NYSE: EURN) lost $105.9 million, Teekay Tankers (NYSE: TNK) $52.1...

https://www.freightwaves.com/news/crude-tankers-still-bleeding-cash-stars-aligned-for-2022-recovery

Slowing bitcoin revenue drags down Square earnings

As third-quarter earnings results have poured in for major online retailers, investors have been left in a state of confusion. Amazon, Wayfair and Shopify all posted results that were below investors’ expectations.

Amazon.com (NASDAQ:AMZN), Wayfair (NYSE: W) and Shopify (NYSE: SHOP) represent only one side of the equation, though. Fintech firms underpin the omnichannel payment sector, and Square is the first major company to report its quarterly results.

Like the e-tailers, Square (NYSE: SQ)...

https://www.freightwaves.com/news/square-releases-q3-earnings

Deutsche Post DHL posts sizzling Q3 results, raises 2021, 2023 outlooks

A rendering of a mustard-colored DHL electric cargo aircraft flying in the clouds.

German transport and logistics giant Deutsche Post DHL posted very strong third-quarter results on Thursday, with revenue up 23.5% to $23.1 billion, operating profit up 28.6% to nearly $2.1 billion and operating margins increasing to 8.8% from 8.5%.

The company also raised its 2021 guidance for earnings before interest and taxes (EBIT) to a record $8.9 billion, above the initial full-year estimate of nearly $8.1 billion made in early October when the company disclosed preliminary results for the...

https://www.freightwaves.com/news/deutsche-post-dhl-posts-sizzling-q3-results-raises-2021-2023-outlooks

Fleetcor beats Q3 expectations again with 29% YOY revenue growth

Fleetcor's third-quarter results beat expectations again.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. (NYSE: FLT) on Wednesday reported total revenue for the third quarter grew 29% year-over-year to nearly $756 million. Net income increased to $234 million for the quarter, a 24% year-over-year rise.

After record retention and sales in the second quarter, the trend continued in Q3. 

Fleetcor’s adjusted earnings per share (EPS) reached $3.52 for the third quarter, increasing 26% year-over-year from $2.80. The...

https://www.freightwaves.com/news/fleetcor-beats-q3-expectations-again-with-29-yoy-revenue-growth

Nikola will push indicted founder to reimburse expected $125M SEC fine

Nikola Corp. set aside $125 million to potentially settle a Securities and Exchange Commission complaint but will seek to get indicted founder Trevor Milton to reimburse the civil penalty and other costs.

The startup electric truck maker is awaiting full SEC approval of the settlement, which covers alleged fraudulent claims by Milton, the company founder and former executive chairman. He faces criminal trial next April on three federal fraud counts. Milton is free on $100 million bail.

“We...

https://www.freightwaves.com/news/nikola-will-push-indicted-founder-to-reimburse-expected-125m-sec-fine

Shares of Wayfair fall on back of mixed Q3 earnings

Wayfair reports Q3 2021 earnings, misses on revenue, beats on EPS

Home furniture marketplace Wayfair posted a mixed Q3 2021 earnings report on Thursday, beating consensus analyst estimates on adjusted earnings per share while missing on revenue.

The e-commerce firm reported revenue of $3.1 billion, down 18.7% year-over-year from Q3 2020’s $3.8 billion. The company also lost $718.5 million quarter-over-quarter, the second quarter in a row in which revenue has declined.

Wayfair’s (NYSE: W) stock price was down about seven basis points in the morning following...

https://www.freightwaves.com/news/shares-of-wayfair-fall-on-back-of-mixed-q3-earnings

Trimble tops analysts’ Q3 expectations in revenue, earnings per share

Trimble Inc.’s third-quarter total revenue of more than $901 million and adjusted earnings per share of 66 cents beat analyst expectations.

Wall Street analysts had forecast EPS of 59 cents per share and revenue of $877.5 million for the quarter. During the third quarter of 2020, Trimble reported EPS of 34 cents and $792.8 million in revenue.

CEO Robert Painter said Wednesday during an earnings call that the company is “raising our annual earnings guidance despite a tightening supply chain...

https://www.freightwaves.com/news/trimble-transportation-segment-reports-161m-in-revenue

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