Company earnings

GXO comes out of the gate with solid third-quarter results

In its first reporting quarter as a stand-alone company, GXO Logistics Inc.posted on Monday 56 cents in third-quarter adjusted diluted earnings per share, above consensus estimates of 53 cents per share and above the 23 cents per share figure when the business was still part of XPO Logistics Inc.

Revenue rose to $2 billion, compared with $1.6 billion in the 2020 quarter when the contract logistics business that became GXO was part of XPO (NYSE:XPO). XPO spun off GXO in August. GXO (NYSE:GXO) is...

https://www.freightwaves.com/news/gxo-comes-out-of-the-gate-with-solid-third-quarter-results

TA reports strong earnings, but diesel sales suggest a demand plateau

The stock of TravelCenters of America is up about 135% in the past 52 weeks, and the company’s third-quarter earnings released late Monday show why.

The earnings also suggest that by at least one measurement, the pace of freight movement on the roads may have stopped climbing last quarter. 

TA’s total revenue (NASDAQ: TA) figures are not a good indicator of how the company is doing financially, given that it is heavily influenced by the cost of fuel. The company’s fuel revenue was up almost 80%...

https://www.freightwaves.com/news/ta-reports-strong-earnings-but-diesel-sales-suggest-a-demand-plateau

Wabtec sees underlying demand amid dampening market pressures

A photograph of a train locomotive crossing over a bridge.

The chip shortage and supply chain disruptions may have put pressure on Wabtec’s freight segment in the third quarter, but the underlying demand is still there and should bode well for the company in the fourth quarter, executives said during Wabtec’s third-quarter 2021 earnings call Wednesday.

“We believe that the underlying customer demand for our products and the end market momentum remains strong” even though there may be continued headwinds from a more challenging sales and cost environment...

https://www.freightwaves.com/news/wabtec-sees-underlying-demand-amid-dampening-market-pressures

USA Truck reports record revenue despite scarcity of drivers, equipment

Assisted by rising freight rates and booming demand for capacity, USA Truck Inc. powered its way to revenue of $181 million and earnings per share of 54 cents during the third quarter.

It was the second consecutive quarter of record revenue for the Van Buren, Arkansas-based carrier. The third-quarter results also beat analyst expectations of quarterly earnings at 49 cents per share on revenue of $177 million.

“We believe overall that the market is the long-term arbiter of value and we intend to...

https://www.freightwaves.com/news/usa-truck-reports-record-revenue-despite-scarcity-of-drivers-equipment

Daimler Truck order bank overflowing but production stymied

Daimler Truck is awash in orders it cannot fill for new trucks because of a shortage of semiconductors and other hard-to-get parts and components.

In its last quarter as part of the Daimler AG (OTC: DDAIF) group that includes Mercedes-Benz cars and vans, the Truck and Bus Group reported considerably lower production and sales due to the ongoing semi shortage, according to Jochen Goetz, CFO of Daimler Truck & Bus.

Like its major global competitors that reported Q3 results earlier, Daimler has a...

https://www.freightwaves.com/news/daimler-truck-order-bank-overflowing-but-production-stymied

Universal Logistics seeks expense relief from customers

Wages and accessorial charges at the ports are items of concern for Universal

Launch costs associated with a new business win at an auto manufacturer’s facility pulled down Universal Logistics Holdings’ third-quarter results.

The Warren, Michigan-based asset-light transportation and logistics provider recorded a $7.1 million loss on the new piece of business in the period, which in part pushed earnings per share 24% lower year-over-year to 38 cents, well short of the 64-cent-consensus estimate.

In total, $12.9 million in startup and litigation costs weighed on Universal’s (

https://www.freightwaves.com/news/universal-logistics-seeks-expense-relief-from-customers

Hub Group CEO: No end in sight for strong demand, tight capacity

A photograph of a train hauling Hub Group intermodal containers.

Third-party logistics company Hub Group sees market conditions supporting inventory imbalances to persist through much of 2022, executives said during Hub Group’s third-quarter 2021 earnings call late Thursday.

“Strong demand continues as inventory-to-sales ratios are at near all-time lows while intense restocking of the shelves persist,” Hub Group (NASDAQ: HUBG) CEO Dave Yeager told investors. “On the second-quarter call [in July], we related that we believe that this strong demand and tight...

https://www.freightwaves.com/news/hub-group-ceo-no-end-in-sight-for-strong-demand-tight-capacity

TFI to close ex-UPS Freight terminals to rein in costs

A TForce Freight truck parked at a former terminal of UPS Freight now owned by TFI International.

TFI International plans to close four former UPS Freight terminals in December as the Canadian company works to bring down costs and optimize its U.S. LTL network, CEO Alain Bédard told financial analysts on Friday.

The terminals don’t handle enough shipments to justify their continued operation, Bédard said. They include one location in Chicago and two in West Virginia, while Bédard didn’t identify the fourth.

The closures account for a small portion of the over 200 facilities TFI acquired as...

https://www.freightwaves.com/news/tfi-to-close-ex-ups-freight-terminals-to-rein-in-costs

Costs abound sink Werner’s Q3; long-term margin target raised

Werner's Q3 sags

A multitude of costs caused Werner Enterprises to miss analysts’ third-quarter expectations Thursday. Some of the expense increases are transitory while others are not.

Werner (NASDAQ: WERN) reported adjusted earnings per share of 79 cents, 10 cents better year-over-year but 16 cents light of consensus and 7 cents lower than the second quarter. Management from the Omaha, Nebraska-based transportation and logistics company provided additional color on a call with analysts.

Increased driver...

https://www.freightwaves.com/news/costs-abound-sink-werners-q3-long-term-margin-target-raised

TFI has strong Q3, but TForce Freight margins weaken

A tractor-trailer of TFI International's TForce Freight, formerly UPS Freight, seen from the front left.

TFI International reported record third-quarter financial results on Thursday even as the performance of its U.S. LTL operation, formerly known as UPS Freight, took a slight dip.

The Montreal-based company beat analysts’ estimates by seven cents with an adjusted net income of $138.9 million or $1.46 per diluted share, according to Seeking Alpha. Revenue came in at just under $2.1 billion, in line with estimates. 

TFI’s (NYSE:TFII) U.S. LTL operation, rebranded as TForce Freight, didn’t quite live...

https://www.freightwaves.com/news/tfi-has-strong-q3-but-tforce-freight-margins-weaken

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