guidance withdrawn

Covenant pushes forward with strategic plan as freight market stabilizes

Covenant truck on highway

Covenant Transportation Group (NASDAQ: CVTI) sees mixed results in the first quarter of 2020, but said April was breakeven and May has shown stabilization in volumes and price.

The Chattanooga, Tennessee-based truckload (TL) carrier reported an adjusted net loss of $1.7 million, or 9 cents a share — a penny ahead of the consensus estimate.

“Our first quarter was marked by three big themes: internal energy around our strategic plan, our response to COVID-19 and a declining used equipment market,”...

https://www.freightwaves.com/news/covenant-pushes-forward-with-strategic-plan-as-freight-market-stabilizes

Pandemic pantry stocking helps Walmart’s fiscal first quarter

Walmart truck on highway

Walmart, Inc. (NYSE: WMT) saw the impact of pandemic-mandated stay-at-home orders as its comparison sales surged 10% year-over-year to nearly $136 billion in the company’s fiscal first quarter 2021, which ended April 30.

The nation’s largest retailer reported adjusted earnings per share (EPS) of $1.18, $0.09 ahead of the consensus estimate according to Seeking Alpha.

Key Performance Indicators – Walmart

Transactions declined 5.6% year-over-year, but tickets increased 16.5% on average. Walmart said...

https://www.freightwaves.com/news/pandemic-pantry-stocking-helps-walmarts-fiscal-first-quarter

‘Lots of unknowns’ facing flatbed market, says Daseke

On its earnings call with analysts and investors, management from Daseke Inc. (NASDAQ: DSKE), the nation’s largest flatbed carrier, said that they see “lots of unknowns” when it comes to a rebound in demand. They said that their wind energy and infrastructure customers are doing well and noted that their clients in the automotive industry are expected to come back online soon.

“Volumes held up well” during the first 11 weeks of the first quarter, yielding to pandemic-related demand erosion in...

https://www.freightwaves.com/news/lots-of-unknowns-facing-flatbed-market-says-daseke

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