TL carriers Archives - Page 4 of 4 - Maritime Shipping News

Rate guidance should drive TL estimates higher, Morgan Stanley says

4 October 2021

In a Monday note to clients, Morgan Stanley analyst Ravi Shanker identified three key themes for the third-quarter earnings season, which begins Oct. 15 when J.B. Hunt reports. Hurricane Ida’s impact on the period, 2022 rate expectations and labor issues throughout peak season are the areas that will get the most attention, according to Shanker.

Hurricane unlikely to materially alter Q3 results

The report said only two companies, truckload carrier Werner Enterprises (NASDAQ: WERN) and Union...

https://www.freightwaves.com/news/rate-guidance-should-drive-tl-estimates-higher-morgan-stanley-says

P.A.M. Transportation’s Q2 results show strength in TL market

15 July 2021

P.A.M. Transportation Services (NASDAQ: PTSI) announced second-quarter 2021 net income of $15.3 million after the market close Wednesday. The result reflected a sharp turnaround from the year-ago quarter during which the company recorded an $800,000 loss as the auto manufacturing sector, from which it generates roughly half of its revenue, was shut down due to COVID protocols.

“It was only one year ago that we were scrambling to find replacement freight as many of our largest customers reacted...

https://www.freightwaves.com/news/pam-transportation-q2-results-show-strength-in-tl-market

Knight-Swift deal shows the value in owning an LTL

14 July 2021

For the second time this year, a truckload-centric transportation company has acquired a less-than-truckload carrier.

Canadian TL and logistics outfit TFI International (NYSE: TFII) announced the $800 billion acquisition of UPS Freight (NYSE: UPS) in January. Last week, the biggest TL carrier in the nation, Knight-Swift Transportation, inked a $1.35 billion deal for regional LTL carrier AAA Cooper Transportation.

What’s so intriguing about the LTL space that warrants the significant investment...

https://www.freightwaves.com/news/knight-swift-deal-shows-the-value-in-owning-an-ltl

More carriers up ante on driver pay

13 May 2021

Load opportunities are abundant but drivers remain in short supply, prompting a few more carriers to announce pay enhancements.

Frozen Food Express, the nation’s largest temperature-controlled less-than-truckload carrier, announced its biggest pay increase in company history. Team drivers can now earn a starting salary of $95,000 per year and drivers with experience can earn up to $150,000 annually, or $300,000 per team.

The carrier raised its starting pay rate to a range of 72 cents to $1 per...

https://s29755.pcdn.co/news/more-carriers-up-ante-on-driver-pay

Werner raises rate-per-mile guidance

28 April 2021

Werner's first quarter ahead of expectations

Werner Enterprises (NASDAQ: WERN) reported first-quarter adjusted earnings of 68 cents per share after the close Wednesday, 5 cents ahead of the consensus estimate and 28 cents better than the year-ago quarter.

An increase in the tax rate compared to the 2020 period was a 2-cent-per-share headwind, which was more than offset by lower insurance expense and higher gains on sale. Management estimates that weather was a 7-cent-per-share headwind during the quarter.

The Omaha, Nebraska-based...

https://www.freightwaves.com/news/werner-raises-rate-per-mile-guidance

Trucking’s tailwinds evident in first quarter

27 April 2021

Forward Air announces its largest rate increase for capacity providers

26 March 2021

Pay rates continue to step higher as industry struggles to find incremental capacity

Asset-light trucking and logistics provider Forward Air (NASDAQ: FWRD) announced Friday the largest per-mile rate increase in company history for the independent contractor fleet in its less-than-truckload and truckload divisions.

The company implemented an 11-cent-per-mile increase for team owner-operators and a 5-cent increase for individual owner-operators. The increase is part of the company’s efforts to “grow our business in stride with the businesses of our leased capacity providers that...

https://s29755.pcdn.co/news/forward-air-announces-its-largest-rate-increase-for-capacity-providers

Leonard’s Express acquires East Coast refrigerated carrier

25 March 2021

Leonard’s Express acquires Holman Transportation

Refrigerated truckload carrier Leonard’s Express announced Thursday it had acquired Holman Transportation.

Founded in 1997, Holman Transportation is a family-owned TL carrier located in Caldwell, Idaho, operating 164 trucks with 189 employees. The company transports temperature-controlled goods for the food and grocery, dairy, and frozen food products sectors. Its primary coverage area is the Pacific Northwest but its fleet hauls in 39 states.

“We are excited about this acquisition. It will help...

https://s29755.pcdn.co/news/leonards-express-acquires-east-coast-refrigerated-carrier

+ More