LTL yields Archives - Page 9 of 9 - Maritime Shipping News

Yellow logs February tonnage decline; LTL recovery appears intact

8 March 2021

Industrial data suggests LTL tonnage dip in February a blip

Less-than-truckload provider Yellow Corp. (NASDAQ: YELL), formerly YRC Worldwide, announced Monday tonnage fell 5.5% year-over-year in February following a 2.5% increase in January. Revenue per hundredweight, or yield, was up 6.3% in February, significantly higher than the 1.8% increase in January.

The Overland Park, Kansas-based carrier’s tonnage reversal was largely due to severe winter storms, which impacted operations at 215 of the company’s 327 freight terminals. A press release said...

https://s29755.pcdn.co/news/yellow-logs-february-tonnage-decline-ltl-recovery-appears-intact

Winter weather takes bite out of Saia’s February tonnage

3 March 2021

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

LTLs continue to issue general rate increases

15 February 2021

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

Saia looking to expand terminal count and margins

8 February 2021

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

ArcBest looking for ‘good momentum’ to carry into Q1

2 February 2021

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

Interest in LTL industry gains momentum

20 January 2021

UBS' Wadewitz sees favorable outlook for LTL carriers

The less-than-truckload carriers got another bull in their camp on Tuesday when UBS (NYSE: UBS) freight transportation analyst Tom Wadewitz initiated coverage on the sector with a favorable outlook.

In a report to clients, Wadewitz launched coverage of Old Dominion Freight Line (NASDAQ: ODFL) and XPO Logistics (NYSE: XPO) with “buy” ratings and Saia (NASDAQ: SAIA) with a “neutral” rating. He pointed to rebounding industrial activity as supportive of his forecast for tonnage growth of 5% in 2021...

https://www.freightwaves.com/news/interest-in-ltl-industry-gains-momentum

Q&A: Deutsche Bank’s Mehrotra still bullish on trucking in 2021

4 January 2021

Several analysts believe the current trucking boom has legs to run further. Amit Mehrotra, Deutsche Bank’s (NYSE: DB) managing director and head of transportation and shipping research, is firmly in the bulls’ camp. In fact, in his almost 20 years of analyzing companies and industries, his outlook report for 2021 is the most bullish one he’s written.

During an interview with FreightWaves, Mehrotra laid out his rationale on trucking in 2021 and beyond. His positive thesis centers on continued...

https://s29755.pcdn.co/news/qa-deutsche-banks-amit-mehrotra-still-bulled-up-on-trucking

2021 trucking outlook comes into focus

18 December 2020

Analysts call their shots for trucking in 2021

Several analysts have published transportation outlook reports for 2021 that are calling for continued strength in the trucking markets. Some are expecting the favorable truckload fundamentals that were in place in the back half of 2020 to continue unchanged though 2021. However, others believe the TL trade has grown long in the tooth and are pivoting to a more meaningful industrial recovery, which supports an improving freight environment for less-than-truckload carriers and the railroads.

Poten...

https://s29755.pcdn.co/news/2021-trucking-outlook-comes-into-focus

ArcBest continues streak of positive LTL updates

8 December 2020

ArcBest sees double-digit LTL tonnage increase in Q4

Key metrics for logistics provider ArcBest Corp. (NASDAQ: ARCB) showed that less-than-truckload demand improved again in November. The company’s Tuesday filing with the SEC noted that the positive trends previously reported in October remained in place during November.

The Fort Smith, Arkansas-based company reported a 9% year-over-year increase in November revenue in its asset-based division as tonnage increased 8% and revenue per hundredweight, or yield, was up 1%. Tonnage in the company’s LTL...

https://www.freightwaves.com/news/arcbest-continues-streak-of-positive-ltl-updates

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