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Truck Talk: Marriage and divorce edition

30 April 2021

This week, we’re looking at the final preparations before Navistar becomes part of TRATON SE and Daimler Truck escapes being lumped in with Mercedes-Benz luxury cars. Also, two views of fuel cells and hydrogen and a not-quite-Oprah-like giveaway.

Wedding gift

Getting married brings big changes. Sometimes one spouse brings college or other debt into a union. Something like that is playing out as Navistar International Corp. (NYSE: NAV) draws closer to its merger with Volkswagen AG’s TRATON SE (8TRA...

https://s29755.pcdn.co/news/truck-talk-marriage-and-divorce-edition

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

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

Old Dominion sees tonnage accelerate from August inflection

3 December 2020

Improvement in less-than-truckload fundamentals was reported for a second day in a row on Thursday. Old Dominion Freight Line’s (NASDAQ: ODFL) November update showed the carrier increased revenue per day by more than 6% for the month.

The report follows a Wednesday update from Saia (NASDAQ: SAIA) in which the carrier reported tonnage increases for the first two months of the fourth quarter of 5.7% and 7.3%, respectively.

Old Dominion reported a 5.2% year-over-year increase in November tonnage...

https://s29755.pcdn.co/news/old-dominion-sees-tonnage-accelerate-from-august-inflection

Saia sees tonnage trends advance in Q4

2 December 2020

Saia continues to see monthly tonnage increase

Less-than-truckload carrier SAIA (NASDAQ: SAIA) announced Wednesday shipment metrics for the first two months of the fourth quarter that included a November tonnage hike of more than 7%.

On a year-over-year comparison, the Johns Creek, Georgia-based carrier reported that October LTL shipments increased 3.3%, with weight per shipment climbing 2.4%. The result was a 5.7% increase in tonnage for the month. November tonnage was up 7.3%, the combination of a 4.4% increase in shipments and a 2.8%...

https://s29755.pcdn.co/news/saia-sees-tonnage-trends-advance-in-q4

Saia adds terminal capacity again; Memphis expansion complete

12 October 2020

Less-than-truckload (LTL) carrier Saia Inc. (NASDAQ: SAIA) announced after the close of trading on Monday that it has opened an expanded cross-dock terminal in Memphis, Tennessee.

The Johns Creek, Georgia-based carrier noted the new 200-door energy-efficient facility will employ almost 300 workers, a level similar to the terminal that it is replacing. The new location has a maintenance shop with eight bays, high-speed fueling capabilities and can “accommodate a significant expansion over time,”...

https://s29755.pcdn.co/news/saia-adds-terminal-capacity-again-memphis-expansion-complete

YRC Q3 update bucks improving industry trends

10 September 2020

The trend of year-over-year tonnage improvement from the less-than-truckload (LTL) carriers in August ends with YRC Worldwide’s (NASDAQ: YRCW) midquarter report. In a press release issued after the market closed on Wednesday, the company reported that tonnage declines actually accelerated during the quarter, down 6.4% in August, following a 4.3% decline in July.

The report was worse than the updates from competitors Old Dominion Freight Line (NASDAQ: ODFL) and SAIA (NASDAQ: SAIA), which reported...

https://s29755.pcdn.co/news/yrc-mid-quarter-update-bucks-improving-industry-trends

ArcBest continues trend of positive mid-quarter reports

9 September 2020

The positive inflection in less-than-truckload (LTL) metrics during August continued with ArcBest Corp. (NASDAQ: ARCB). In a Wednesday filing, the carrier reported that total tonnage per day increased 3.5% compared to August 2019, with LTL tonnage increasing by a high single-digit percentage.

Last week, carriers Old Dominion Freight Line (NASDAQ: ODFL) and Saia (NASDAQ: SAIA) reported modest increases in tonnage on a year-over-year basis for the month, the first since COVID-19 brought large...

https://www.freightwaves.com/news/arcbest-continues-trend-of-positive-mid-quarter-reports

Analysts continue to raise the bar for trucking companies

8 September 2020

Old Dominion double next to truckload rig on highway

Another equity research analyst has pulled up earnings estimates for trucking companies. Citing recent conversations with management teams from several transportation companies, Deutsche Bank (NYSE: DB) analyst Amit Mehrotra raised his earnings per share (EPS) forecasts for the rest of 2020 and all of 2021 on the carriers he follows.

“The bottom line is we expect Transportation results to be very strong across the board, with likely more to come over the course of the next several quarters,”...

https://s29755.pcdn.co/news/analysts-continue-to-raise-outlooks-for-trucking-companies

Less-than-truckload turning positive in August

3 September 2020

A couple of reports from less-than-truckload carriers show trends are beginning to turn positive on a year-over-year comparison.

Old Dominion Freight Line (NASDAQ: ODFL) reported a modest increase in revenue per day for the month of August. The Thomasville, North Carolina-based carrier said in a Thursday press release the metric was up 1.3% compared to August 2019. In its second-quarter filing, the company reported a 2.9% year-over-year revenue decline during July, following an 11.4% drop in...

https://s29755.pcdn.co/news/less-than-truckload-turning-positive-in-august

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