LTL pricing

Winter weather takes bite out of Saia’s February tonnage

Winter weather hits LTL tonnage in February

Less-than-truckload carrier Saia (NASDAQ: SAIA) reported a reversal in trends during February as severe winter storms forced closures across the carrier’s network of terminals. February tonnage fell 2.3% year-over-year after climbing 5.4% in January.

At the peak of the storms, Saia had as many as 70 of its facilities fully or partially offline, in some cases for several days. The carrier has a strong presence in Texas, 20 terminals, which bore the brunt of the storms as some areas of the state...

https://www.freightwaves.com/news/winter-weather-takes-bite-out-of-saias-february-tonnage

Weather slows Old Dominion’s hot start to year

Severe winter weather only impacts one week of Old Dominion's first quarter

Less-than-truckload carrier Old Dominion Freight Line (NASDAQ: ODFL) announced Tuesday that severe winter weather slowed its operations for one week during February. For the month, revenue per day increased 9.2% year-over-year as tonnage climbed 5.9% and revenue per hundredweight, or yield, increased by roughly 3%.

Winter storms during February were a detractor to Old Dominion’s hot start to the year. In January, daily revenue increased 14.6% year-over-year with tonnage climbing 11.9%.

“Old...

https://www.freightwaves.com/news/weather-slows-old-dominions-hot-start-to-year

Weather upends ArcBest’s quick start to 2021

ArcBest's first quarter hinges on March

Logistics provider ArcBest Corp. (NASDAQ: ARCB) announced in its annual 10-k filing with the Securities and Exchange Commission that severe winter weather has impacted first-quarter results.

The company’s asset-based segment, which includes less-than-truckload operations, saw a strong start to 2021, with January revenue per day increasing 10.7% year-over-year as tonnage moved 6.6% higher. However, winter storms during February resulted in a reversal in tonnage trends.

Quarter-to-date through late...

https://s29755.pcdn.co/news/february-weather-reverses-arcbests-strong-january-tonnage-growth

LTLs continue to issue general rate increases

GRIs supportive of firming LTL market

Less-than-truckload carrier Old Dominion Freight Line (NASDAQ: ODFL) announced a 4.9% general rate increase Monday for freight carried under various general tariff codes. The increase will be effective March 1.

The rate bump follows similar announcements from LTL carriers in recent weeks. The majority of the increases are in the 5% to 6% range, likely indicative of tightening LTL capacity and a rate-disciplined environment.

Saia’s (NASDAQ: SAIA) 5.9% rate increase began on Jan. 18 and logistics...

https://s29755.pcdn.co/news/ltls-continue-to-issue-general-rates-increases

Forward Air doubles down amid heightened interest from activists

Management says LTL margins can get back to 15%

Following scrutiny from an activist investor group, which includes the company’s founder and former CFO, management at asset-light trucking and logistics company Forward Air (NASDAQ: FWRD) doubled down on its approach to the business during its fourth-quarter call with analysts Friday.

The investor group led by Ancora Advisors issued an open letter to shareholders Wednesday, voicing discontent with the current direction of the company and announcing its decision to nominate four candidates for...

https://www.freightwaves.com/news/forward-air-doubles-down-amid-heightened-interest-from-activists

Saia Q4 easily outpaces forecasts

Saia eyes terminal expansion

Less-than-truckload carrier Saia (NASDAQ: SAIA) reported fourth-quarter earnings per share of $1.51 Monday, 21 cents ahead of consensus and more than 85% higher year-over-year. The period benefited from a sub-20% corporate tax rate, a roughly 7 cent per share benefit assuming the third-quarter rate, which was related to stock-based compensation.  

Revenue grew 8% year-over-year as tonnage increased 6% and revenue per hundredweight, or yield, increased more than 1%. The company posted an 89.4%...

https://www.freightwaves.com/news/saia-q4-easily-outpaces-forecasts

Saia looking to expand terminal count and margins

Terminal door count to grow by more than 4% in 2021

Less-than-truckload carrier Saia (NASDAQ: SAIA) looks to expand its terminal network in 2021 and take yields and margins higher.

The Johns Creek, Georgia-based carrier reported fourth-quarter earnings per share of $1.51 on Monday, outpacing the consensus estimate of $1.30 and last year’s result of 81 cents. The fourth-quarter result benefited by 9 cents due to a lower tax rate.

Terminal expansion plans

Saia plans to open at least one terminal during the first quarter and management is hopeful that...

https://www.freightwaves.com/news/saia-looking-to-expand-terminal-count-and-margins

YRC Worldwide officially Yellow again; Q4 misses mark

Q4 misses expectations

Less-than-truckload provider Yellow Corp., formerly YRC Worldwide (NASDAQ: YRCW), made it official Thursday after the market close. The company will operate under the Yellow banner again. Yellow will begin trading on the NASDAQ under the ticker “YELL” on Monday.

The Overland Park, Kansas-based company reported a net loss of 37 cents per share, worse than the consensus call for a 24-cent per share loss but 9 cents better than the prior-year result.

Yellow is the holding company for LTL brands...

https://www.freightwaves.com/news/yrc-worldwide-officially-yellow-again-q4-misses-mark

ArcBest looking for ‘good momentum’ to carry into Q1

TFI acquisition of UPS Freight likely a 'good thing'

Logistics provider ArcBest Corp. (NASDAQ: ARCB) is hopeful for continued improvement in industrial activity as the new year progresses.

On Tuesday, the Fort Smith, Arkansas-based company reported fourth-quarter adjusted earnings per share of 97 cents, 5 cents ahead of consensus and 41 cents ahead of the 2019 fourth quarter. The period benefited from a lower tax rate.

Tonnage trends seeing lift from industrial sector

On the fourth-quarter earnings call, Chairman, President and CEO Judy McReynolds...

https://www.freightwaves.com/news/arcbest-looking-for-good-momentum-to-carry-into-q1

ArcBest Q4 beats forecasts

LTL tonnage up double-digits in Q4

Logistics provider ArcBest Corp. (NASDAQ: ARCB) reported Tuesday fourth-quarter adjusted earnings per share of 97 cents, 5 cents ahead of consensus and 41 cents ahead of the 2019 period.

The asset-based segment, which includes less-than-truckload operations, reported an 8% year-over-year increase in revenue as tonnage increased by a similar amount with revenue per hundredweight, or yield, moving slightly higher.

LTL tonnage was up double-digit percentages, with weight per shipment increasing...

https://www.freightwaves.com/news/arcbest-q4-beats-forecasts

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