TL rates

Wolfe Research conference focuses on a truckload restart

unidentified truck on highway

Trucking executives were on hand on May 19 to discuss freight markets at the 13th Annual Wolfe Research Global Transportation & Industrials Conference. The panel format covered topics like demand, pricing and a potential restart.

Overview of freight trends

U.S. Xpress’ (NYSE: USX) President and CEO Eric Fuller said the company continues to see consistent volumes as the bulk of the carrier’s freight comes from grocery, discount retail and home improvement stores. In the company’s first quarter...

https://s29755.pcdn.co/news/wolfe-research-conference-focuses-on-a-truckload-restart

‘Worst’ market in 47 years as restructuring at Covenant continues

Covenant truck on highway

Covenant Transportation Group (NASDAQ: CVTI) sees progress on its strategic plan, which is centered on replacing poorly performing freight, shuttering terminals and trimming its asset-based fleet.  

The Chattanooga, Tennessee-based truckload (TL) carrier reported a first quarter adjusted net loss of $1.7 million, $0.09 per share, a penny ahead of the consensus estimate.

Part of Covenant’s organizational refocus is to better allocate capital to higher margin offerings like contract logistics and...

https://s29755.pcdn.co/news/worst-market-in-47-years-as-restructuring-at-covenant-continues

USA Truck sees green shoots amid uncertainty; shares surge

USA Truck

On its earnings conference call with analysts, truckload (TL) carrier USA Truck’s (NASDAQ: USAK) management team said that they are hearing positive feedback from customers regarding a resumption in activity.

They said that more than 80% of the company’s revenue comes from customers that have been deemed “essential” and that those customers are still shipping freight at pre-COVID-19 levels. Further, some nationwide retailers are starting up large inventory pushes and the company is hearing some...

https://s29755.pcdn.co/news/usa-truck-first-quarter-call

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