truckload carriers

April sees mixed freight trends on path to recovery

April was a mixed bag, with freight rates moving higher year over year but volumes staying pressured, according to monthly data from Cass Information Systems. Both datasets did see improvement from March but the outlook remains murky.

Cass’ shipments index increased 0.4% in April from March (0.3% higher seasonally adjusted) but was off 3.6% y/y. The y/y decline was the smallest this year. The last positive y/y reading was January 2023.

The shipments index was off 7.5% on a two-year-stacked...

https://www.freightwaves.com/news/april-sees-mixed-freight-trends-on-path-to-recovery

Despite red ink at Heartland, Morgan Stanley report relatively upbeat

With Heartland Express holding no conference call with analysts and recording a series of unprofitable quarters, outside reviews of the truckload carrier’s performance can be infrequent.

But the transportation team at Morgan Stanley led by Ravi Shanker has done so for Heartland’s first quarter. And despite another quarter of both operating and net losses at Heartland, the Wall Street investment firm, in a report released Tuesday, kept its rating of equal weight – EW – on the truckload carrier’s...

https://www.freightwaves.com/news/despite-red-ink-at-heartland-morgan-stanley-report-relatively-upbeat

Pamt Corp. CEO resigns for family reasons amid mounting losses

Pamt Corp., formerly Pam Transportation Services, announced that President and CEO Joe Vitiritto will step down next month for family reasons.

The announcement follows the Tontitown, Arkansas-based company’s first-quarter net loss in which its truckload segment booked a sixth consecutive operating loss – a 110.9% operating ratio (inverse of operating margin).

Roughly one-third of the company’s annual revenue is tied to the automobile industry.

Vitiritto took the helm at Pamt in August 2020 after a...

https://www.freightwaves.com/news/pamt-corp-ceo-resigns-for-family-reasons-amid-mounting-losses

Insurance costs, fraud and cargo theft hit Landstar’s Q1

Freight broker Landstar System’s first quarter was marred by several previously disclosed factors. Unfavorable claims development, increased accident severity, stolen cargo and fraud at a satellite office were the primary culprits.

Landstar (NASDAQ: LSTR) reported first-quarter earnings per share of 85 cents, 47 cents lower year over year. The period included a 31-cent hit from higher insurance and claims expenses and a 10-cent hit, $4.8 million, tied to “a supply chain fraud” at an affiliate.

The...

https://www.freightwaves.com/news/insurance-costs-fraud-and-cargo-theft-hit-landstars-q1

Rising transportation pricing in April outpaced capacity growth

Transportation metrics were mixed in April, according to a monthly survey gauging sentiment among supply chain managers.

The Logistics Managers’ Index – a diffusion index in which a reading above 50 indicates expansion while one below 50 signals contraction – showed capacity, utilization and pricing remained in expansion territory during the month.

Transportation capacity (55.2) ticked higher, up 1.6 percentage points sequentially during the month as utilization (53.3) increased again but at a...

https://www.freightwaves.com/news/rising-transportation-pricing-in-april-outpaced-capacity-growth

Premier Bulk Systems acquires Canada east coast operator

Premier Bulk Systems has acquired fellow bulk liquid hauler Longhorn Transportation for an undisclosed sum.

The deal gives Ontario, Canada-based Premier Bulk Systems a presence in the Maritime Provinces along Canada’s east coast.

New Brunswick, Canada-based Longhorn provides bulk liquid truckload services, hauling petroleum products, asphalt and chemicals. The 21-year-old carrier also provides flatbed and dry van TL transportation.

“The addition of Longhorn into Premier’s operating network is...

https://www.freightwaves.com/news/premier-bulk-systems-acquires-canada-east-coast-operator

Tariffs trim Schneider National’s 2025 growth expectations

Multimodal transportation provider Schneider National said it still expects to see growth and operational improvement across its three businesses this year, just at a more subdued pace given the tariff overhang. So far, the changing trade landscape hasn’t produced any dramatic shifts in customer demand.

Rates across its truckload segment have increased by low- to mid-single-digits this year. However, the carrier is taking less volume from some shippers when the rate isn’t desirable. It now...

https://www.freightwaves.com/news/tariffs-trim-schneider-nationals-2025-growth-expectations

Schneider National’s Q1, outlook not as bad as feared

Schneider National announced first-quarter earnings ahead of analysts’ expectations on Thursday but lowered its outlook for 2025.

Schneider (NYSE: SNDR) reported adjusted earnings per share of 16 cents, 2 cents ahead of the consensus estimate and 5 cents higher year over year. The y/y increase was driven by the December acquisition of Cowan Systems. The adjusted EPS number excluded 1 cent per share in acquisition costs.

Full-year guidance was cut to a range of 75 cents to $1 from the initial...

https://www.freightwaves.com/news/schneider-nationals-q1-outlook-not-as-bad-as-feared

CEO Leathers says Werner ‘acting decisively’ after red-ink quarter

Coming off a quarter with not just a net loss but an operating deficit as well, Werner Enterprises CEO Derek Leathers tackled a performance that he said “clearly did not meet our expectations.”

“We faced several challenges during the quarter, some industry-wise, some specific to Werner, but we are acting decisively to address them,” he said. In post-market trade, Werner (NASDAQ: WERN) stock was down as much as 5%, and it’s down about 25% in the past three months. 

A summary of the company’s key...

https://www.freightwaves.com/news/ceo-leathers-says-werner-acting-decisively-after-red-ink-quarter

First look: Net loss at Werner upends expectations of positive EPS

Werner Enterprises posted an unexpected loss in Q1.

  • Werner posted a net loss of $10.2 million for the quarter. A year ago, it made $6.2 million in the first quarter. Net income in the fourth quarter was $11.6 million. It also posted an operating loss of $5.8 million, compared to an operating income a year earlier of $15.6 million.
  • In comments that accompanied the release of earnings, CEO Derek Leathers said the results were “below our expectations due to elevated insurance costs, extreme...

https://www.freightwaves.com/news/first-look-net-loss-at-werner-upends-expectations-of-positive-eps

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