LTL yields

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

Market shook, LTL carrier Old Dominion isn’t

Less-than-truckload carrier Old Dominion Freight Line said it will continue making growth-oriented investments in its network ahead of demand. However, as uncertainty around trade policy is weighing on volumes and prolonging an already protracted freight downturn, the company decided to reel in its capex budget for 2025.

Its outlook for a favorable pricing backdrop remains intact, management told analysts on a quarterly earnings call Wednesday.

The company noted a reacceleration in its business...

https://www.freightwaves.com/news/market-shook-ltl-carrier-old-dominion-isnt

First look: Old Dominion Q1 earnings

Old Dominion Freight Line beat first-quarter expectations Wednesday before the market opened. The Thomasville, North Carolina-based less-than-truckload carrier reported earnings per share of $1.19, 5 cents higher than the consensus estimate but 15 cents lower year over year.  

The y/y decline was attributed to “ongoing softness in the domestic economy.”

“While we were encouraged to see signs of improving demand during the first quarter, there continues to be uncertainty with the economy,” Old...

https://www.freightwaves.com/news/first-look-old-dominion-q1-earnings

FedEx prepping LTL unit ahead of spinoff

FedEx continues to pretty up the nation’s largest less-than-truckload business, FedEx Freight, ahead of a 2026 spinoff. However, a lackluster industrial complex continued to present a headwind during its recent fiscal quarter ended Feb. 28.

Revenue at FedEx Freight declined 5.3% year over year to $2.09 billion as tonnage fell 7.6% and revenue per hundredweight, or yield, increased just 2.2%. The tonnage decline was the combination of a 4.7% decline in shipments and a 3.1% decline in weight per...

https://www.freightwaves.com/news/fedex-prepping-ltl-unit-ahead-of-spinoff

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