TL pricing

USA Truck’s management team upbeat on earnings recovery

USA Truck truck on highway

Management from truckload (TL) carrier USA Truck (NASDAQ: USAK) didn’t back down Tuesday from the assertion that recent investments in a regionalized freight model as well as technology could produce significantly higher earnings.

Management said during its earnings conference call with investors that it believes there is roughly 500 basis points of potential operating ratio (OR) improvement in the TL division if rates were to climb back to year-ago levels. This would produce an OR, operating...

https://www.freightwaves.com/news/usa-trucks-management-team-upbeat-on-earnings-recovery

USA Truck’s adjusted Q2 loss modestly better than expected

USA Truck rig in transit on highway

Truckload (TL) carrier USA Truck (NASDAQ: USAK) reported a second-quarter 2020 adjusted net loss of $513,000, or 6 cents per share, compared to analysts’ forecasts for a 9-cent-per-share loss.

Consolidated revenue declined 7.4% year-over-year to $124 million, down only 3% excluding fuel surcharge revenue.

“The second quarter of 2020 was unlike any quarter we have seen in transportation, producing unprecedented day to day and week to week swings in freight and pricing due to the COVID-19...

https://s29755.pcdn.co/news/usa-trucks-adjusted-q2-loss-modestly-better-than-expected

Knight-Swift 2Q beat; guidance reinstated and raised

Swift truck on highway

Knight-Swift Transportation Holdings Inc. (NYSE: KNX) keeps the better-than-expected earnings theme rolling forward. The Phoenix-based truckload (TL) carrier reported second quarter adjusted earnings per share of $0.57, easily beating analysts’ forecasts of $0.35.

Similar to other carriers, Knight-Swift saw freight demand rebound off of April’s bottom, “gradually” improving throughout the quarter and into July. “We are encouraged by the continued strength in freight demand in July; however,...

https://s29755.pcdn.co/news/knight-swift-2q-beat;-guidance-reinstated-and-raised

Bigger freight declines in May highlight Cass data surprise

Unidentified truck on highway

The Cass Freight Index saw year-over-year declines widen in May, a result likely worse than many had been expecting.

The shipments component of the index fell 23.6% year-over-year in May, outpacing the 22.7% year-over-year decline reported in April. Freight expenditures dropped 21.2% year-over-year, worse than the 18.2% year-over-year decline reported in the prior month.

Shipments did improve slightly from April – up 1.6% sequentially.

Chart: Cass Freight Index – Shipments; Source: Cass...

https://s29755.pcdn.co/news/bigger-freight-declines-in-may-highlight-cass-data-surprise

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