Truck capacity

Trucker out-of-service orders hit all-time high

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WASHINGTON — New-entrant out-of-service (OOS) orders issued to carriers will surge to an all-time...

https://www.freightwaves.com/news/trucker-out-of-service-orders-hit-all-time-high

Landstar ‘executing on all cylinders’; strength to carry through H1 ’22

Rates not likely to pull back to 2016, 2017 levels, according to Landstar CEO Jim Gattoni

Freight broker Landstar System sees the current tight trucking market continuing in the fourth quarter and into 2022.

The Jacksonville, Florida-based company released record quarterly results Wednesday after the market closed. Earnings per share of $2.58 was 97 cents higher than the year-ago period, 18 cents higher than the second quarter and ahead of management’s mid-August guidance raise calling for a range of $2.45 to $2.55.

Landstar (NASDAQ: LSTR) issued fourth-quarter guidance for revenue to...

https://www.freightwaves.com/news/landstar-executing-on-all-cylinders-strength-to-carry-through-h1-22

Forward Air’s new comp plan addresses obstacles in congested markets

Forward Air implements another pay enhancement

Forward Air (NASDAQ: FWRD) announced Tuesday a new way to tackle the trucking industry’s capacity headwinds.

The Greeneville, Tennessee-based asset-light trucking and logistics company will now provide additional compensation to team and solo owner-operators depending on the destination of the load. The “destination-based” pay increases for fleet partners in its less-than-truckload and truckload segments are designed to incent capacity providers to carry loads into congested markets that present...

https://www.freightwaves.com/news/forward-airs-new-comp-plan-addresses-obstacles-in-congested-markets

Freight continues to flow in, capacity does not

Robust freight cycle hums along

Expectations around future freight flows continue to grow with each passing week. New records are being posted with no sign of a falloff on the horizon.

Stimulus payments are spurring along already robust consumer spending while the need to replenish inventories lingers. The combination appears likely to keep the upside of the freight cycle on track even as the year-over-year comparisons become more formidable in the back half of the year.

Inbound container forecast raised again

The National...

https://s29755.pcdn.co/news/freight-continues-to-flow-in-capacity-does-not

J.B. Hunt sees elevated demand through at least Q1

JBI rig on highway

Management from J.B. Hunt Transport Services (NASDAQ: JBHT) said a high-demand environment is likely to continue through at least the first quarter of 2021.

In a virtual presentation at Baird’s 2020 Global Industrial Conference on Tuesday, Shelley Simpson, chief commercial officer and president of highway services, described the current freight market as “tight” and “more chaotic” than expected, noting ongoing dislocation in volumes and capacity. The influx of containers to the West Coast has...

https://s29755.pcdn.co/news/jb-hunt-sees-elevated-demand-through-at-least-q1

The Daily Dash: $411 million nuclear verdict; holiday shipping delays

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a Florida jury has awarded an injury victim $411 million in a judgment against a single-truck operation. Plus, a lack of freight capacity has some worrying about holiday shipping delays and Toyota and Hino will bring a Class 8 fuel-cell electric truck to the U.S. next year.

Florida jury makes a statement

A Florida jury has handed down a $411 million judgment against a single-truck motor carrier that...

https://s29755.pcdn.co/news/the-daily-dash-411-million-nuclear-verdict-holiday-shipping-delays

Trucking to see ‘more of the same,’ says Ryder’s Belter (with video)

FreightWaves' JT Engstrom chats transportation outlook with Ryder's Dave Belter

Changes in technology, labor regulations and emissions, as well as a potential driver shortage and rising insurance costs, are just some of the challenges facing the surface transportation industry, according to  Dave Belter, vice president and general manager of transportation management with Ryder System (NYSE: R).

Belter told FreightWaves Chief Strategy Officer JT Engstrom during a virtual fireside chat at The Future of Logistics Real Estate summit Tuesday that there are “a lot of...

https://www.freightwaves.com/news/trucking-to-see-more-of-the-same-says-ryders-belter-with-video

Landstar joins rising tide and raises guidance

Landstar truck on highway

The improved outlook for trucking continues with a guidance raise from Jacksonville, Florida-based freight broker Landstar System Inc. (NASDAQ: LSTR).

In a filing with the U.S. Securities and Exchange Commission, the company announced it was increasing its previously issued third-quarter earnings per share (EPS) guidance to a range of $1.40 to $1.46, well above the company’s prior guidance of $1.11 to $1.17 and the current consensus estimate of $1.14.

The company now expects loads hauled by truck...

https://www.freightwaves.com/news/landstar-joins-the-rising-tide-raises-guidance

Analysts continue to raise the bar for trucking companies

Old Dominion double next to truckload rig on highway

Another equity research analyst has pulled up earnings estimates for trucking companies. Citing recent conversations with management teams from several transportation companies, Deutsche Bank (NYSE: DB) analyst Amit Mehrotra raised his earnings per share (EPS) forecasts for the rest of 2020 and all of 2021 on the carriers he follows.

“The bottom line is we expect Transportation results to be very strong across the board, with likely more to come over the course of the next several quarters,”...

https://s29755.pcdn.co/news/analysts-continue-to-raise-outlooks-for-trucking-companies

Daseke shares up 20%; restructuring progress seen in Q2 report

Builder's Transportation, a Daseke company, flatbed rig on the highway

On its second-quarter earnings call with analysts on Thursday, August 6, management from the nation’s largest flatbed carrier Daseke Inc. (NASDAQ: DSKE) said the business is holding up well even as revenue has been challenged by the pandemic.

Volumes troughed in April, modestly improving sequentially in May and again in June. Management said July has provided more of a “a sideways movement” as demand began to plateau at the end of June. More specifically, management said flatbed capacity demand...

https://www.freightwaves.com/news/daseke-shares-up-20-restructuring-progress-seen-in-q2-report

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