Less than Truckload (LTL)

XPO sees runway to higher margins even if downcycle lingers

Less-than-truckload carrier XPO has improved margins through the downturn while the rest of the industry has struggled. The Greenwich, Connecticut-based LTL carrier said Wednesday it isn’t backing off its outlook for further improvement this year even as a trade war threatens to extend a downcycle already long in the tooth.

XPO (NYSE: XPO) reported adjusted earnings per share of 73 cents for the first quarter, 8 cents better than the consensus estimate but 8 cents lower year over year. (The...

https://www.freightwaves.com/news/xpo-sees-runway-to-higher-margins-even-if-downcycle-lingers

First look: XPO beats first-quarter earnings expectations

Less-than-truckload carrier XPO beat first-quarter expectations on Wednesday ahead of the market open.

XPO (NYSE: XPO) reported adjusted earnings per share of 73 cents, which was 8 cents better than the consensus estimate but 8 cents lower year over year. The adjusted EPS number excluded transaction and restructuring costs.

“Our plan is driving results, with a long runway for margin expansion, supported by superior service and high-return investments in our network,” said CEO Mario Harik in a...

https://www.freightwaves.com/news/first-look-xpo-beats-first-quarter-earnings-expectations

ArcBest says LTL pricing not under attack

Less-than-truckload transportation provider ArcBest pushed back on concerns that an extended industrial downturn and the redeployment of bankrupt Yellow Corp.’s terminals has created too much capacity, which is pressuring yields.

Management from the company described the market as “very rational” on a Tuesday call with equity analysts.

“When we look at the opportunities that we have, nothing has changed,” said ArcBest Chairman and CEO Judy McReynolds on the call. She said the company is still...

https://www.freightwaves.com/news/arcbest-says-ltl-pricing-not-under-attack

First look: ArcBest reports tough Q1

Transportation and logistics provider ArcBest reported a modest earnings miss for the first quarter on Tuesday before the market opened.

ArcBest (NASDAQ: ARCB) reported adjusted earnings per share of 51 cents, 1 cent light of the consensus estimate but 83 cents lower year over year. The consensus EPS number came down 30 cents in the 90 days leading up to the Tuesday report as analysts cut forecasts due to soft demand trends in March.

The adjusted result excluded 38 cents in one-offs like costs...

https://www.freightwaves.com/news/first-look-arcbest-reports-tough-q1

Saia’s shares sag 30% as tariffs tank demand, exacerbate growing pains

Tariffs and other market forces pulled the rug out from under Saia in the first quarter. 

The company’s rapid growth following Yellow Corp.’s 2023 collapse has been met by a customer base that is now spooked by the prospect of a protracted trade war. Incremental costs from carrying 25% to 30% excess capacity in anticipation of a market turn collided with subseasonal demand in March, producing results much worse than investors had feared.

Saia (NASDAQ: SAIA) reported first-quarter earnings per...

https://www.freightwaves.com/news/saias-shares-sag-30-as-tariffs-tank-demand-exacerbate-growing-pains

Saia badly misses Q1 mark, shares off 24% pre-market

Less-than-truckload carrier Saia said it didn’t get the March lift in demand it normally sees as customers pulled back in response to trade uncertainty.

Johns Creek, Georgia-based Saia (NASDAQ: SAIA) reported first-quarter earnings per share of $1.86 before the market opened on Friday. The result was well light of the $2.76 consensus estimate and the $3.38 the carrier posted in the year-ago period.

Further, the consensus number came down 31 cents in the 90 days ahead of the print as analysts...

https://www.freightwaves.com/news/saia-badly-misses-q1-mark-shares-off-24-pre-market

TFI’s Bedard upbeat on revamped US LTL operations even as numbers sink

(For a recap of TFI International’s core financial reporting from Wednesday, see this First look article.)

It may come as a surprise that TFI International CEO Alain Bedard was reasonably cheerful Thursday about 2025’s first quarter.

TFI had posted weak quarterly earnings a day earlier, there was a slide in the company’s stock price – about 40% in a year and just a little less than that over the past three months – and previous quarterly earnings calls have been laments about performance...

https://www.freightwaves.com/news/tfis-bedard-upbeat-on-revamped-us-ltl-operations-even-as-numbers-sink

Knight-Swift grappling with tariff-spooked customers in bid season

Knight-Swift Transportation lowered its second-quarter outlook on Wednesday and decided against issuing third-quarter guidance as “customers are grappling with a fluid trade policy situation,” resulting in delayed decision making for some while others “manage inventories more tightly.”

The Phoenix-based transportation and logistics provider beat first-quarter expectations, reporting adjusted earnings per share of 28 cents, 4 cents better than the consensus estimate and 16 cents higher year over...

https://www.freightwaves.com/news/knight-swift-grappling-with-tariff-spooked-customers-in-bid-season

Knight-Swift blames trade uncertainty for reduced Q2 outlook, no Q3 guide

Knight-Swift Transportation said changes in trade policy are weighing on customer decision making. The Phoenix-based multimodal transportation provider beat expectations for the first quarter, according to an earnings report sent out Wednesday after the market closed, but reeled in its second-quarter guidance and didn’t provide a third-quarter outlook.

Knight-Swift (NYSE: KNX) reported adjusted earnings per share of 28 cents for the first quarter. The result came in below management’s guidance...

https://www.freightwaves.com/news/knight-swift-blames-trade-uncertainty-for-reduced-q2-outlook-no-q3-guide

First look: Another disappointing LTL quarter at TFI International

The stock of TFI International took a significant downturn in post-close trading Wednesday after earnings that once again can only be described as disappointing.

At approximately 5:30 p.m., TFI International stock was down about 2% to $76.85. It had been down by more immediately after the close. TFI stock had weakened by the end of the regular trading day, falling 0.19% at the close to $78.43. It is down about 42% in the past three months.

According to SeekingAlpha, non-GAAP earnings of 76 cents...

https://www.freightwaves.com/news/first-look-another-disappointing-ltl-quarter-at-tfi-international

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