LTL yields

LTL general rate increases buck pricing concerns for industry

Less-than-truckload carrier Old Dominion Freight Line announced Monday a 4.9% general rate increase across multiple tariff codes effective Dec. 2. The GRI announcement follows similar price actions from other carriers in recent weeks, tamping down concerns that the industry is losing its ability to pass through rate increases two years into an industrial recession.

Carriers typically implement GRIs to general tariff codes annually. The stated percentage increase is an expected average of changes...

https://www.freightwaves.com/news/ltl-general-rate-increases-buck-pricing-concerns-for-industry

LTL, brokerage woes weigh on ArcBest’s Q3

Weak demand coupled with cost pressure weighed on ArcBest’s third quarter. The company has mitigated some of the earnings pressure through internal initiatives in recent quarters but really needs a more cooperative freight market to push numbers higher.

ArcBest (NASDAQ: ARCB) reported third-quarter adjusted earnings per share of $1.64, 21 cents below the consensus estimate and 67 cents lower year over year.

The adjusted EPS result excluded expenses tied to past acquisitions and ongoing technology...

https://www.freightwaves.com/news/ltl-brokerage-woes-weigh-on-arcbests-q3

ArcBest Q3 earnings: First look

Continued belt tightening wasn’t enough to offset a “challenging freight environment” during the third quarter, ArcBest said in a Friday news release.

ArcBest (NASDAQ: ARCB) reported third-quarter adjusted earnings per share of $1.64, 21 cents below the consensus estimate and 67 cents lower year over year. Consolidated revenue of $1.06 billion was 5.8% lower y/y.

ArcBest’s asset-based segment, which includes results from its less-than-truckload subsidiary ABF Freight, reported revenue of $709.7...

https://www.freightwaves.com/news/arcbest-q3-earnings-first-look

XPO’s shares surge on strong Q3, favorable outlook

XPO returned another solid quarter as it readies its network to take advantage of both the next market upturn and longer-term growth opportunities.

The less-than-truckload carrier reported third-quarter adjusted earnings per share of $1.02, 11 cents better than the consensus estimate and 14 cents higher year over year. Consolidated revenue increased 3.7% to $2.05 billion. It outpaced peers by logging 200 basis points of margin improvement in its LTL segment.  

Shares of XPO (NYSE: XPO) were up...

https://www.freightwaves.com/news/xpos-shares-surge-on-strong-q3-favorable-outlook

Saia comfortable with near-term noise amid terminal expansion

Less-than-truckload carrier Saia said it’s not too concerned with lumpy financial performances from quarter to quarter as it builds out a national network through terminal acquisitions. It’s more focused on the long-term capabilities of the business and the returns that can be generated now that it services all 48 contiguous states.

Saia (NASDAQ: SAIA) missed third-quarter expectations Friday, reporting earnings per share of $3.46. The result was 7 cents below the consensus estimate and 21 cents...

https://www.freightwaves.com/news/saia-comfortable-with-near-term-noise-amid-terminal-expansion

Saia Q3 earnings: First look

Less-than-truckload carrier Saia missed analysts’ third-quarter expectations on Friday, reporting earnings per share of $3.46. That was 7 cents light of consensus and 21 cents lower year over year.

Saia’s (NASDAQ: SAIA) revenue increased 8.6% y/y to $842 million. Revenue was up 6.9% y/y on a per-day basis. The per-day revenue increase was driven by a 7.7% increase in tonnage per day, partially offset by a 0.9% decline in revenue per hundredweight, or yield. Excluding fuel, yield was 1.7% higher.

T...

https://www.freightwaves.com/news/saia-q3-earnings-first-look

Old Dominion points to October as ‘a sign of hope’

Old Dominion Freight Line saw continued demand weakness during the third quarter but signaled October could be the last of the big year-over-year declines for this cycle.

The less-than-truckload carrier reported $1.47 billion in revenue, a 3% y/y decline. Earnings per share of $1.43 were 1 cent ahead of the consensus estimate but 11 cents worse than the 2023 third quarter.

The company said y/y declines in operating metrics have accelerated so far in October. Revenue per day will likely be down...

https://www.freightwaves.com/news/old-dominion-points-to-october-as-a-sign-of-hope

Old Dominion Q3 first look: EPS beats but ‘ongoing softness’ weighs on volumes

Old Dominion Freight Line’s third-quarter results were slightly ahead of analysts’ expectations, but many of its operating metrics continued to “reflect ongoing softness in the domestic economy.” The comparisons to the prior-year period, which benefited from Yellow Corp.’s (OTC: YELLQ) shutdown, were also tougher.

The Thomasville, North Carolina-based less-than-truckload carrier reported earnings per share of $1.43, which was one cent ahead of the consensus estimate but 11 cents lower year over...

https://www.freightwaves.com/news/old-dominion-q3-first-look-eps-beats-but-ongoing-softness-weighs-on-metrics

LTL carriers see softer volume trends in August

A pair of less-than-truckload carriers reported weaker volumes in August but said they continue to see favorable yield results.

XPO (NYSE: XPO) saw volumes slide during a “soft” August but reiterated its margin guidance, which is predicated on favorable yield trends.

The carrier reported a 4.6% year-over-year decline in tonnage during August, the combination of a 4.5% decline in shipments and a 0.1% dip in weight per shipment. It previously reported no change for the same volume metrics in July....

https://www.freightwaves.com/news/ltl-carriers-see-softer-volume-trends-in-august

Economic headwinds, light shipments weigh on ArcBest in August

Lower shipment weights and the loss of some project freight won in the early days of Yellow Corp.’s wind-down a year ago weighed on metrics at ArcBest’s asset-based unit in August.

The company’s asset-based segment, which includes results from less-than-truckload carrier ABF Freight, saw tonnage fall 10% year over year in August, following a 12.5% decline in July, according to a Tuesday evening filing with the Securities and Exchange Commission. The August decline was the combination of a 1% dip...

https://www.freightwaves.com/news/economic-headwinds-light-shipments-weigh-on-arcbest-in-august

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