LTL intraquarter updates

XPO’s November shipment increase needed to fill 28 new terminals

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Less-than-truckload carrier XPO reported shipments were up again in November but that lower shipment...

https://www.freightwaves.com/news/xpos-november-shipment-increase-needed-to-fill-28-new-terminals

Yellow’s big tonnage declines part of network restructuring

Two YRC trucks on the highway

A third-quarter update from less-than-truckload carrier Yellow Corp. was reflective of the network restructuring the company has undertaken. Through the first two months of the third quarter tonnage was down by mid-teen percentages year over year (y/y), which significantly outpaced mixed results from peers.

Yellow (NASDAQ: YELL) is currently executing a network overhaul in which it has consolidated all of its separately run LTL brands onto the same tech platform. It is also rationalizing some...

https://www.freightwaves.com/news/yellows-tonnage-declines-part-of-network-restructuring

Success of Forward Air’s freight upgrade extends beyond easy comps

A Forward Air trailer being pulled by an independent contractor

Asset-light less-than-truckload provider Forward Air said Monday that its decision to swap out “inefficient freight” over the past year continues to deliver the returns it had hoped. The company reported a 16% year-over-year (y/y) increase in revenue per shipment for the first two months of the third quarter, a sizable increase considering the easy comps have faded.

Many LTL carriers used a very strong trucking market to replace lower-margin customer accounts. However, there likely isn’t another...

https://www.freightwaves.com/news/forward-airs-freight-upgrade-extends-beyond-easy-comps

ArcBest update shows signs of moderation; Saia EPS estimates cut

ABF Freight truck on highway

More signs of deceleration in the less-than-truckload space were evident Thursday when ArcBest provided a third-quarter update and one analyst cut expectations for Saia following its lackluster report on Wednesday.

Revenue for the industry continues to move higher year over year (y/y) as pricing remains firm. However, volumes have moderated, signaling that even one of the best performing modes over the last several quarters may be feeling the impacts of slowing macroeconomic trends.

ArcBest’s (NAS...

https://www.freightwaves.com/news/arcbest-update-shows-signs-of-moderation-saia-eps-estimates-cut

LTL stocks sag on weaker-than-expected Q3 updates

Old Dominion and Saia trailers at a warehouse

A couple of less-than-truckload carriers reported moderating trends Wednesday. Third-quarter updates from both Old Dominion Freight Line and Saia Inc. showed that the robust year-over-year (y/y) growth rates recorded over the last few quarters are continuing to slow.

Old Dominion (NASDAQ: ODFL) reported revenue was up 14.5% y/y in August, a growth rate that was 390 basis points (bps) lower than it recorded in July. Tonnage during the month was down 0.9% y/y following a 1.4% decline in July....

https://www.freightwaves.com/news/ltl-stocks-sag-on-weaker-than-expected-q3-updates

Yellow’s Q2 volumes fall again amid network overhaul

Trailers parked at a Yellow terminal

Volume declines continued for less-than-truckload carrier Yellow Corp. in May. After the market closed Thursday, the company reported a 17.2% year-over-year decline in tonnage during the month, which followed a similar drop in April. The declines are part of a plan to cull unwanted freight from the network and drive yields and margins higher.  

On Yellow’s (NASDAQ: YELL) first-quarter earnings call, management said the tonnage declines had peaked in February, which saw a 27% year-over-year drop....

https://www.freightwaves.com/news/yellows-q2-volumes-fall-again-amid-network-overhaul

Old Dominion update points to strong Q2

Old Dominion rig headed to Indianapolis

Old Dominion Freight Line announced Monday that revenue increased 26% year-over-year on a per-day basis in May. The carrier previously disclosed a 29.1% increase for the month of April. The report continues a string of positive second-quarter updates from less-than-truckload carriers.

Tonnage was up 2.3% in May at Old Dominion (NASDAQ: ODFL), following a 6.4% rise in April but higher yields drove the bulk of the revenue jump. Through the first two months of the quarter, revenue per hundredweight...

https://www.freightwaves.com/news/old-dominion-update-points-to-strong-q2

ArcBest, Saia report positive Q2 trends through May

A green ABF Freight tractor pulling two silver ABF Freight trailers

Less-than-truckload carriers continued to see positive growth trends in the second quarter, according to intraquarter updates from ArcBest and Saia on Thursday.

Transportation and logistics provider ArcBest (NASDAQ: ARCB) reported that total billed revenue per day increased 38% year-over-year in May. The company’s asset-based division, which includes LTL, reported a 24% increase in daily revenue as tonnage increased 6% and revenue per hundredweight, or yield, jumped 17%. The company previously...

https://www.freightwaves.com/news/arcbest-saia-report-positive-q2-trends-through-may

Yellow’s February tonnage drop sours streak of positive LTL updates

Yellow sees tonnage drop, yields surge to start 2022

Less-than-truckload carrier Yellow Corp. reported Wednesday that tonnage fell 27.4% year-over-year in February, following a 15.9% drop in January.

The declines, part of Yellow’s yield enhancement initiatives, were far worse than the improving comps announced by other carriers. In recent days, several publicly traded carriers reported a surge in year-over-year tonnage growth rates in February when compared to January. Severe winter storms during February 2021 created an easy comp for the recent...

https://www.freightwaves.com/news/yellows-february-tonnage-drop-sours-streak-of-positive-ltl-updates

ArcBest sees record Q4 fundamentals carry into Q1

2022 off to a strong start for LTL carriers

Transportation and logistics provider ArcBest reported Friday that the robust revenue growth trends in place for several quarters now have continued through February.

The company’s asset-based division, which includes LTL, reported a 24% year-over-year jump in revenue during the recent month, following a previously disclosed 22.4% increase in January. The year-over-year comparisons were similar to those booked during the 2021 fourth quarter, which was a record earnings period for the carrier.

The...

https://www.freightwaves.com/news/arcbest-sees-record-q4-fundamentals-carry-into-q1

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