guidance raised

Freight swap leads Forward Air to Q3 record; 2023 targets issued

Forward Air sees record results in third quarter

Management from Forward Air told analysts on its third-quarter earnings call Thursday that “cleansing” its customer book drove record results in the period.

The Greeneville, Tennessee-based asset-light trucking and logistics company has been upgrading the freight mix to include “denser, high-value freight.” Forward (NASDAQ: FWRD) is maximizing yield per shipment by focusing on a mix that is skewed toward industrial tech and parts versus lighter and lower-margined e-commerce parcels.

The...

https://www.freightwaves.com/news/freight-swap-leads-forward-air-to-q3-record-2023-targets-issued

Schneider sees ‘constructive market well into 2022’

Schneider beats third-quarter estimates, raises guidance

Schneider National is calling for more of the same, elevated transportation demand and limited supply, as 2021 comes to an end.

The Green Bay, Wisconsin-based truckload carrier reported adjusted earnings per share of 62 cents for the third quarter, 10 cents ahead of consensus and double the year-ago period. The quarter included a $3.1 million loss on equity investments, which was offset by higher gains on equipment sales.

Schneider National (NYSE: SNDR) updated its full-year 2021 adjusted EPS...

https://www.freightwaves.com/news/schneider-sees-constructive-market-well-into-2022

Knight-Swift crushes Q3 expectations; all segments’ revenue, margins up

Knight-Swift's big Q3 to be followed by a step higher in Q4

Knight-Swift Transportation posted a big third-quarter result Wednesday before the market opened, beating analysts’ forecasts handily and raising its full-year 2021 guidance.

The stock was up 5.8% by midday on the news compared to the S&P 500, which was up 0.4%.

Adjusted earnings per share of $1.30 significantly outpaced consensus of $1.07, the year-ago period of 79 cents and the second quarter’s 98 cents. Of note, increased gains on equipment sales contributed to the outperformance.

Table:...

https://www.freightwaves.com/news/knight-swift-crushes-q3-expectations-all-segments-revenue-margins-up

Landstar says Q3 better than expected so far; guidance raised

Landstar raises guidance again

Freight broker Landstar System raised its third-quarter earnings guidance Tuesday after the market close.

The Jacksonville, Florida-based company now expects revenue to be in a range of $1.68 billion to $1.72 billion and earnings per share in a range of $2.45 to $2.55, 8% and 11% higher than the midpoints of the prior ranges, respectively.

The current third-quarter consensus EPS estimate for Landstar (NASDAQ: LSTR) is $2.28.

“The improved guidance reflects truckload volume currently trending...

https://www.freightwaves.com/news/landstar-says-q3-better-than-expected-so-far-guidance-raised

XPO provides GXO guidance, pulls forward spinoff date

XPO's transportation unit seeing

XPO Logistics (NYSE: XPO) announced Wednesday updated financial goalposts following the planned spinoff of its logistics unit, which it now expects to complete during the third quarter.

The company increased its outlook for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to at least $490 million in the second quarter. “Stronger-than-expected performance in its transportation segment” was cited as the reason for the increase.

The expected second-quarter...

https://www.freightwaves.com/news/xpo-provides-gxo-guidance-pulls-forward-spinoff-date

Landstar raises Q2 outlook; volumes, pricing outperform

Landstar raises guidance

Freight broker Landstar System (NASDAQ: LSTR) lifted second-quarter guidance ahead of an appearance at an investor conference on Tuesday. The company now expects revenue and earnings per share to be “slightly above” the high end of its previous guidance ranges of $1.4 billion to $1.45 billion and $2.20 to $2.30, respectively.

The Jacksonville, Florida-based company is calling for truckload volumes to increase by a low-double-digit percentage from the first quarter with revenue per load...

https://www.freightwaves.com/news/landstar-raises-q2-outlook-volumes-pricing-outperform

Cummins raises financial guidance on blazing trucking demand

Engine maker Cummins Inc. (NYSE: CMI) expects full-year 2021 sales to rise as much as 24% following consensus-crushing Q1 revenue and profits.

First-quarter revenues of $6.1 billion rose 22% over $5 billion the same quarter in 2020. Q1 net income was $603 million, or $4.07 per fully diluted share, compared to $511 million, or $3.41. Earnings before interest, taxes, depreciation and amortization (EBITDA) was 16.1% of sales.

Analysts expected per-share earnings of $3.47 and revenue of $5.35...

https://s29755.pcdn.co/news/cummins-raises-financial-guidance-on-blazing-trucking-demand

Forward Air sees more ‘double-doubles’ as company returns to form

"Boom times" in the freight market, says Forward CEO

On a call with analysts Friday, management from Forward Air (NASDAQ: FWRD) laid out some margin targets after posting a first-quarter earnings beat and issuing guidance well ahead of expectations.

Thursday after the close, the Greeneville, Tennessee-based asset-light trucking and logistics company reported net income from continuing operations of 60 cents per share, which was 3 cents ahead of consensus and 19 cents better year-over-year.

Continuing operations exclude the high-frequency pool...

https://www.freightwaves.com/news/forward-air-sees-more-double-doubles-as-company-returns-to-form

Forward Air issues strong second-quarter outlook

Forward Air posts beat-and-raise quarter

Forward Air (NASDAQ: FWRD) reported net income from continuing operations of 60 cents per share Thursday after the market close, 3 cents ahead of the consensus estimate and 19 cents better than the first quarter of 2020.

Continuing operations exclude the high-frequency pool distribution segment, which was sold in February.

The Greeneville, Tennessee-based asset-light trucking and logistics company reported revenue of $362 million, an 18.5% year-over-year increase as well as a first-quarter...

https://s29755.pcdn.co/news/forward-air-issues-strong-second-quarter-outlook

DSV Panalpina buys Agility’s logistics unit for $4.1B

DSV Panalpina now a top 3 forwarder by revenue

DSV Panalpina (DSV.C.DX) announced Tuesday it will acquire the logistics arm of Kuwait-based Agility Public Warehousing (AGLT.KW) for $4.1 billion (1.23 billion KWD). The deal will make it the third-largest freight forwarder globally.

Agility’s stand-alone Global Integrated Logistics (GIL) unit is expected to be acquired in an all-stock transaction during the third quarter. DSV plans to issue 19.3 million shares, approximately 8% of its outstanding stock, to fund the deal. The transaction places...

https://s29755.pcdn.co/news/dsv-panalpina-buys-agilitys-logistics-unit-for-41b

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