truckload carriers

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

Knight-Swift crushes Q3 expectations; all segments’ revenue, margins up

Knight-Swift's big Q3 to be followed by a step higher in Q4

Knight-Swift Transportation posted a big third-quarter result Wednesday before the market opened, beating analysts’ forecasts handily and raising its full-year 2021 guidance.

The stock was up 5.8% by midday on the news compared to the S&P 500, which was up 0.4%.

Adjusted earnings per share of $1.30 significantly outpaced consensus of $1.07, the year-ago period of 79 cents and the second quarter’s 98 cents. Of note, increased gains on equipment sales contributed to the outperformance.

Table:...

https://www.freightwaves.com/news/knight-swift-crushes-q3-expectations-all-segments-revenue-margins-up

Marten brokerage unit’s strong performance contrasts with sluggish truckload results

Marten Transport reported improved earnings for the third quarter but most of it came from an unusual place: its brokerage division. 

In a quarter in which truckload carriers Heartland Express (NASDAQ: HTLD) and P.A.M. Transport (NASDAQ: PTSI) both reported operating ratios less than 80%, the truckload OR at Marten (NASDAQ: MRTN) improved just slightly, to 88.3% from 88.7% in the third quarter of 2020. Its dedicated division did significantly worse, declining to 89.6% from 85.9% a year ago. 

And...

https://www.freightwaves.com/news/marten-brokerage-units-strong-performance-contrasts-with-sluggish-truckload-results

Supply chain hurdles not high enough to thwart J.B. Hunt’s Q3 beat

J.B. Hunt says extended peak season will boost Q1 results

Labor was the main talking point of J.B. Hunt Transport Services’ third-quarter earnings call with analysts Friday. Management from the Lowell, Arkansas-based transportation company said many of the nation’s supply chain obstacles are rooted in a shortage of workers.  

“The thing that has been the most difficult for us to get eyes on is customer warehouse labor,” said J.B. Hunt (NASDAQ: JBHT) intermodal head Darren Field. “That’s where there is a significant bottleneck — our customers’ ability...

https://www.freightwaves.com/news/supply-chain-hurdles-not-high-enough-to-thwart-j-b-hunts-q3-beat

J.B. Hunt rolls past Q3 expectations

Supply chain challenges continue to constrain freight volumes

J.B. Hunt Transport Services handily beat third-quarter estimates Friday, posting earnings per share of $1.88, 11 cents ahead of consensus expectations. Earnings per share were 27 cents higher than the second quarter and 70 cents better than the year-ago quarter.

Supply chains headwinds and network congestion on the railroads limited J.B. Hunt’s (NASDAQ: JBHT) intermodal volume growth. Loads were off 6% year-over-year but a 24% increase in revenue per load pushed the top line 17% higher in the...

https://www.freightwaves.com/news/jb-hunt-rolls-past-q3-expectations

P.A.M. Transportation: ‘Navigating the disruptions’ leads to a big Q3

PAM rides hot freight market to new records in Q3

P.A.M. Transportation Services reported Thursday after the market close that its third-quarter earnings more than tripled year-over-year. The Tontitown, Arkansas-based truckload carrier posted earnings per share of $1.87, compared to 52 cents per share in the same quarter of 2020, a period hindered by an industrial customer base that was still digging out from COVID-related shutdowns.

“We have had another record quarter for revenue and operating statistics at PAM. I am excited to see the work...

https://www.freightwaves.com/news/pam-transportation-navigating-the-disruptions-leads-to-a-big-q3

‘Unprecedented’ freight demand, labor challenges next year, Heartland Express says

Labor headwinds persist throughout the supply chain

Truckload carrier Heartland Express recorded its best operating ratio Thursday since it began acquiring other carriers in 2013. The third-quarter result was a 75% adjusted OR, 650 basis points better year-over-year and 470 bps better than the second quarter.

The North Liberty, Iowa-based carrier expects the current freight market to continue moving forward.

“Freight demand has continued to be strong and has reached unprecedented levels throughout the third quarter of 2021 and we expect these...

https://www.freightwaves.com/news/unprecedented-freight-demand-labor-challenges-next-year-heartland-express-says

September Cass data underscores stalled shipments; expenditures surge

Supply chain easing could begin in fourth quarter, Cass says

September data from Cass Information Systems showed shipments fell victim to supply chain and capacity constraints while expenditures, a proxy for pricing, surged forward.

The shipments component of the Cass Freight Index (NASDAQ: CASS) slid 4.9% seasonally adjusted from August, according to the Wednesday report. The dataset was 0.6% higher than September 2020, which marked 12 straight months of year-over-year gains.

Some of the deceleration in freight volumes was pinned on Hurricane Ida and a...

https://www.freightwaves.com/news/september-cass-data-underscores-stalled-shipments-expenditures-surge

Cortes named to run Walmart’s US transportation business

Walmart Inc. has named Fernando Cortes, the chief supply chain officer at Keurig Dr. Pepper Inc., to head its U.S. transportation business, its chief supply chain officer, Joe Metzger, said late Tuesday.

Cortes, who spent 18 years at the Plano, Texas-based consumer packaged goods company (NASDAQ:KDP), will report to Metzger, according to Metzger’s LinkedIn post announcing the decision. Cortes’ official title at Walmart is senior vice president-transportation. 

In May, Walmart selected Metzger to...

https://www.freightwaves.com/news/cortes-named-to-run-walmarts-us-transportation-business

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