TL pricing

For-hire trucking sees ‘green shoot’ in August

A Wednesday report from ACT Research showed the trucking cycle may be “approaching [a] turning point.” All five components of ACT’s For-Hire Trucking Index showed improvement from a carrier’s perspective during August, with volumes logging a large turnaround.

ACT’s volume index jumped 12.3 percentage points to 54.4 on a seasonally adjusted basis from July to August.

A reading above 50 indicates growth while one below 50 implies contraction. The report was quick to caution that the measure is one...

https://www.freightwaves.com/news/for-hire-trucking-sees-green-shoot-in-august

Knight-Swift reels in 2023 outlook after poor Q2

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Knight-Swift Transportation significantly lowered its 2023 full-year outlook Thursday, citing the...

https://www.freightwaves.com/news/knight-swift-reels-in-2023-outlook-after-poor-q2

Carriers punt on rest of 2022, hopeful for market normalization in ’23

Large carriers have given up on any material improvement in freight demand for the rest of the year. However, some are beginning to call for normal seasonality in 2023 with market tightening as soon as the middle of the year.

No surprise, there is no peak season

Appearing at Baird’s annual global industrial conference in Chicago, management from J.B. Hunt (NASDAQ: JBHT) said an inventory correction is continuing to play out throughout its customer book. An extant overhang of merchandise was...

https://www.freightwaves.com/news/carriers-punt-on-rest-of-2022-hopeful-for-market-normalization-in-23

Landstar’s Q2 misses mark; revenue per load steadies

A Landstar trailer being pulled by a red tractor

Freight broker Landstar System has seen pricing moderate since the spot market’s decline early in the second quarter. Revenue per mile for dry van loads hauled by its business capacity owners (BCOs) fell 6% sequentially in both April and May but has held steady since. The metric excludes fuel surcharges and is only off 13% from the February high.  

Landstar (NASDAQ: LSTR) reported second-quarter earnings per share of $3.05 Wednesday after the market closed, 20 cents below the consensus estimate...

https://www.freightwaves.com/news/landstars-q2-misses-mark-revenue-per-load-steadies

Knight-Swift positioned to perform in H2; LTL provides spark in Q2

A Knight Transportation sleeper van on the highway

Knight-Swift Transportation announced better-than-expected second-quarter results Wednesday after the market closed. The company saw revenue and margin improvement in each of its operating segments, with the less-than-truckload unit providing the biggest upside surprise.

Knight-Swift (NYSE: KNX) reported adjusted earnings per share of $1.41, 6 cents ahead of the consensus estimate and 43 cents higher year over year. The result included a 16-cent-per-share mark-to-market adjustment tied to an...

https://www.freightwaves.com/news/knight-swift-positioned-to-perform-in-h2-ltl-provides-spark-in-q2

Transportation capacity up, price hikes slow in April

White tractor, silver trailer on highway in rain storm

Activity across the supply chain grew at a healthy clip during April but the pace of growth slowed to the lowest level recorded since January 2021, according to a monthly survey released Tuesday. A decline in transportation metrics, notably an increase in transportation capacity, were the catalysts.

The Logistics Managers’ Index (LMI), a measure of supply chain conditions, registered a reading of 69.7 in April, down 6.5 percentage points from March’s record. The index remained above its all-time...

https://www.freightwaves.com/news/transportation-capacity-up-price-hikes-slow-in-april

Schneider sees ‘healthy’ contract freight market

White Schneider tractor driving through heavy rain

Schneider beat first-quarter expectations Thursday and raised its full-year outlook citing favorable contractual rate negotiations, which account for the bulk of its revenue.

The company posted adjusted earnings per share of 57 cents, which was 3 cents ahead of the consensus estimate and 26 cents higher year-over-year. It also raised its full-year EPS outlook to a range of $2.55 to $2.70 (from $2.35 to $2.55), compared to the consensus estimate of $2.53 at the time of the print.

“When we look at...

https://www.freightwaves.com/news/schneider-earnings-q1-2022

Werner beats Q4 estimates, points to organic growth opportunities

Fourth-quarter adjusted EPS of $1.13 bests consensus estimate of 97 cents

Werner Enterprises said on a call with analysts Thursday it plans to grow revenue by 10% on average over the next five years. The bulk of that is expected to be achieved through organic growth initiatives versus acquisitions.  

Werner (NASDAQ: WERN) reported adjusted earnings per share of $1.13 Thursday after the market closed. The result was ahead of the consensus estimate of 97 cents and the year-ago result of 89 cents.

The number included 24 cents per share in gains from equipment sales, a...

https://www.freightwaves.com/news/werner-beats-q4-estimates-points-to-organic-growth-opportunities

Schneider raises margin targets; Q4 ahead of expectations

2022 picks up where 2021 left off

Schneider raised margin targets for its truckload and intermodal segments and issued full-year 2022 guidance ahead of expectations Thursday. The company reported adjusted earnings per share of 76 cents for the fourth quarter, 11 cents better than the consensus estimate and 73% higher year-over-year.

The longer-term operating margin target for the company’s TL segment was raised to a range of 12% to 16% (up from 11% to 13%). The top end of the intermodal margin range was raised 200 basis points...

https://www.freightwaves.com/news/schneider-raises-margin-targets-q4-ahead-of-expectations

J.B. Hunt blows past Q4 expectations

Intermodal segment margins improve as pricing steps higher

J.B. Hunt Transport Services handily beat fourth-quarter estimates Tuesday after the market closed, posting earnings per share of $2.28, well ahead of the $2.02 consensus estimate.

The Lowell, Arkansas-based company reported year-over-year revenue growth across all of its segments, 28% higher on a consolidated basis at $3.5 billion, with increased freight rates outpacing incremental costs associated with operating in an overwhelmed supply chain. J.B. Hunt (NASDAQ: JBHT) posted a 90.8% operating...

https://www.freightwaves.com/news/jb-hunt-blows-past-q4-expectations

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