truckload carriers

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

Landstar quantifies suspected fraud event, delays Q1 report

Freight broker Landstar System announced it has delayed reporting first-quarter results as it further investigates suspected supply chain fraud that was uncovered during the last week of March. It said the event is not expected to exceed $15 million of net income before accounting for professional fees and potential insurance recoveries.

On April 2, the Jacksonville, Florida-based company cut its earnings-per-share guidance for the quarter to a range of 90 to 95 cents from $1.05 to $1.25, citing...

https://www.freightwaves.com/news/landstar-quantifies-suspected-fraud-event-delays-q1-report

TL carrier Pamt books another loss in Q1

Pamt Corp., formerly Pam Transportation Services, saw another loss in the first quarter.

The Tontitown, Arkansas-based truckload carrier reported a net loss of $8.1 million, or 37 cents per share.

The result was negatively impacted compared to the year-ago quarter by lower non-operating income – primarily a decline in the market value of its equity securities portfolio (a 5-cent headwind) – and higher interest expense (a 4-cent headwind). Those items were offset by $3 million in gains on...

https://www.freightwaves.com/news/tl-carrier-pamt-books-another-loss-in-q1

Knight-Swift grappling with tariff-spooked customers in bid season

Knight-Swift Transportation lowered its second-quarter outlook on Wednesday and decided against issuing third-quarter guidance as “customers are grappling with a fluid trade policy situation,” resulting in delayed decision making for some while others “manage inventories more tightly.”

The Phoenix-based transportation and logistics provider beat first-quarter expectations, reporting adjusted earnings per share of 28 cents, 4 cents better than the consensus estimate and 16 cents higher year over...

https://www.freightwaves.com/news/knight-swift-grappling-with-tariff-spooked-customers-in-bid-season

Knight-Swift blames trade uncertainty for reduced Q2 outlook, no Q3 guide

Knight-Swift Transportation said changes in trade policy are weighing on customer decision making. The Phoenix-based multimodal transportation provider beat expectations for the first quarter, according to an earnings report sent out Wednesday after the market closed, but reeled in its second-quarter guidance and didn’t provide a third-quarter outlook.

Knight-Swift (NYSE: KNX) reported adjusted earnings per share of 28 cents for the first quarter. The result came in below management’s guidance...

https://www.freightwaves.com/news/knight-swift-blames-trade-uncertainty-for-reduced-q2-outlook-no-q3-guide

LTL rates projected to keep rising y/y in Q2, TL rates to stay ‘at the bottom’

Amid soft demand and trade uncertainty, less-than-truckload pricing remained resilient during the first quarter while truckload rates stayed depressed. The trends are expected to continue through the second quarter, a Tuesday report from 3PL AFS Logistics and financial services firm TD Cowen showed.

The LTL rate-per-pound component of the TD Cowen/AFS Freight Index stood 63.8% higher in the 2025 first quarter than its January 2018 baseline. That was a 280-basis-point increase year over year and...

https://www.freightwaves.com/news/ltl-rates-projected-to-keep-rising-y-y-in-q2-tl-rates-to-stay-at-the-bottom

Truckload earnings estimates cut as Q1 draws to a close

Susquehanna Financial Group cut estimates for trucking and logistics companies heading into the first-quarter earnings season. Uncertainty around tariffs and retailers building inventories in response has turned “macroenthusiasm into pessimism,” analyst Bascome Majors told clients in a Wednesday report.

“We’re cautious into spring as the truckload cycle likely gets worse before it gets better,” Majors said, noting that “pending tariffs have caused a broad ‘wait & see’ approach for retail and...

https://www.freightwaves.com/news/truckload-earnings-estimates-cut-as-q1-draws-to-a-close

Kenan Advantage Group acquiring MC Tank Transport

Kenan Advantage Group (KAG) is acquiring liquid bulk hauler MC Tank Transport (MCT), according to an internal MCT memo to drivers on Tuesday. The latest acquisition for KAG will also provide it with a platform to provide International Organization for Standardization (ISO) tank services.

The deal will also include MCT subsidiaries MC Leasing, KI Leasing and Liquid Solutions Tank Leasing.

West Chester, Ohio-based MCT operates out of 11 terminals throughout the Midwest, South and East as well at...

https://www.freightwaves.com/news/kenan-advantage-group-acquiring-mc-tank-transport

February freight trends mixed, outlook ‘fraught with uncertainty’

February data from Cass Information Systems showed a claw back of what was lost to weather in January, but uncertainty overhangs an already sluggish freight market.

Freight volumes snapped back in February, up 10.5% from January, but remained pressured compared to last year, down 5.5% year over year. Normal seasonality, a recovery from harsh weather in January and shippers importing goods ahead of tariffs were cited as catalysts behind the latest sequential change.

February shipments increased...

https://www.freightwaves.com/news/february-freight-trends-mixed-outlook-fraught-with-uncertainty

Kenan Advantage Group acquires Alabama-based dry bulk hauler

Kenan Advantage Group (KAG) announced Thursday it has acquired dry bulk hauler Evergreen Transport.

Mobile, Alabama-based Evergreen Transport specializes in the transportation of dry bulk commodities like ash, cement, lime and sand in addition to food-grade commodities. It operates a fleet of 158 tractors and 338 trailers out of four terminals across Alabama.

The 37-year-old carrier also provides dump trailer, flatbed and container services. Evergreen’s roughly 100 drivers and 45 operations...

https://www.freightwaves.com/news/kenan-advantage-group-acquires-alabama-based-dry-bulk-hauler

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