TL demand

Cass TL linehaul index up y/y for first time in 2 years

January data from Cass Information Systems showed truckload linehaul rates turned positive on a year-over-year comparison for the first time in two years. However, shipments remained soft.

The TL linehaul index, which tracks rates without fuel and accessorial surcharges, posted a 0.8% y/y increase for the month. This was the first positive y/y change since December 2022. The index also increased 0.6% from December, the fifth consecutive sequential increase.

Winter storms in January were more...

https://www.freightwaves.com/news/cass-tl-linehaul-index-up-y-y-for-first-time-in-2-years

First look: Schneider Q4 earnings

Schneider National’s fourth quarter came in as expected, as did its initial earnings outlook for 2025. During the recent quarter, the company saw year-over-year earnings improvement across all segments for the first time since the 2022 second quarter.

Fourth-quarter adjusted earnings per share of 20 cents was in line with the consensus estimate and 4 cents higher y/y. The number excluded costs from prior acquisitions, including the Dec. 2 purchase of dedicated carrier Cowan Systems.

Schneider (NYS...

https://www.freightwaves.com/news/first-look-schneider-q4-earnings

Landstar Q4 earnings: First Look

Freight broker Landstar System missed fourth-quarter expectations Wednesday after the market closed.

The Jacksonville, Florida-based company reported earnings per share of $1.31, which fell short of the $1.34 consensus estimate. Management’s guidance range was $1.25 to $1.45.

Revenue of $1.21 billion was up 0.4% year over year and slightly ahead of the $1.2 billion consensus estimate (in line with management’s forecast of $1.15 billion to $1.25 billion).

Total loads hauled by truck fell 3.4% y/y...

https://www.freightwaves.com/news/landstar-q4-earnings-first-look

Losses at Heartland Express continue to mount

Truckload carrier Heartland Express reported a third-quarter net loss on Tuesday as it continues “to be hampered by a challenging freight environment.”

A $9.3 million net loss (12 cents per share) marked a fifth consecutive quarter in the red for the North Liberty, Iowa-based company when excluding one-time gains from real estate sales. Analysts were calling for just a 1-cent loss.

Lower gains on the sale of used equipment were a 1-cent headwind (assuming a normalized tax rate) versus the...

https://www.freightwaves.com/news/losses-at-heartland-express-continue-to-mount

Cass reports ‘freight slowdown’ in March

Cass sees market cool in March

Freight shipments advanced in March but at a slower pace, according to data released Wednesday from Cass Information Systems. Freight expenditures, however, continued upward at a blistering pace.

The volumes subset of the Cass Freight Index increased just 0.6% year-over-year in March, 300 basis points slower than the growth rate logged a month ago. The dataset was also 1% lower than February when seasonally adjusted.

“While a few points of softness in Q1 were due to omicron-related absenteeism,...

https://www.freightwaves.com/news/cass-reports-freight-slowdown-in-march

‘Improved’ inventories still lagging sales growth; tailwind for trucking

Retail inventories still challenged

The nation’s largest retailers are painting a more constructive picture on inventories. On a sequential comparison, merchandise levels have continued to recover from the widespread stockouts seen in the early days of the pandemic. But record demand throughout the summer, fall and holiday buying season have inventories still in need of significant replenishment, which is a favorable catalyst for trucking demand.

A look at the retail sector’s recent earnings reports showed that sales outpaced...

https://s29755.pcdn.co/news/improved-inventories-still-lagging-sales-growth;-tailwind-for-trucking

2021 trucking outlook comes into focus

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

Trucking heads see extended runway for demand

Werner truck on highway

Management from some of the nation’s largest truckload (TL) carriers are having a tough time distinguishing between peak season and the new normal in a COVID world.

Commenting at the Stephens Annual Investment Conference this week, Werner Enterprises (NASDAQ: WERN) CEO Derek Leathers said peak season ramped sooner than normal this year, starting from a much higher volume base. He noted retailers were “pulling forward everything they could get their hands on” earlier this year, which has created...

https://s29755.pcdn.co/news/trucking-heads-see-extended-runway-for-demand

Schneider CEO says only ‘third inning’ of trucking cycle

Schneider National truck on highway

Schneider National (NYSE: SNDR) is planning for the robust freight environment to carry well into next year.

CEO and President Mark Rourke said the industry appears to still be in the early stages of the current trucking cycle, “maybe the third inning,” during an appearance at Baird’s 2020 Global Industrial Conference this week.

The Green Bay, Wisconsin-based transportation and logistics company’s chief said none of its customers feel good about inventory levels, which gives him confidence that...

https://s29755.pcdn.co/news/schneider-ceo-says-only-third-inning-of-trucking-cycle