truckload freight

Bad news at Marten: Profits miss expectations, truckload OR plummets

Truckload carrier Marten Transport added to this week’s trucking earnings calamity, coming in short of consensus on first-quarter earnings per share and revenue, and suffering a 570-basis-point decline in its operating ratio.

Marten (NASDAQ: MRTN) posted GAAP earnings per share of 12 cents, which SeekingAlpha said was 2 cents less than the consensus forecast. That is a miss of about 14.3% compared to the consensus of 14 cents per share.

Revenue of $249.67 million was short of consensus by $14.2...

https://www.freightwaves.com/news/bad-news-at-marten-profits-miss-expectations-truckload-or-plummets

Truckload carriers’ forecasts cut heading into Q1 prints

Analysts are cutting earnings estimates for truckload companies heading into first-quarter reports. Acknowledging decent demand, analysts cited an overhang of truck capacity, which is constraining pricing and margins, as the reason for the latest round of revisions.

“We exit 1Q much like we entered it for truckload-related transports — feeling okay about volumes but bad about pricing and expecting downward EPS revisions for businesses that live on this annual pricing cycle,” Susquehanna...

https://www.freightwaves.com/news/truckload-carriers-forecasts-cut-heading-into-q1-prints

State of Freight: Reasons to be bullish on second half of 2024

FreightWaves’ State of Freight webinar for March offered a bit of optimism that the freight market could improve at some point later this year.

Craig Fuller, FreightWaves CEO and founder, and Zach Strickland, director of freight market intelligence, said while they don’t see any clear signs of a significant boost in the overall freight industry, there are signals that the market is moving in the right direction.

Here are five takeaways from the webinar:

2024 could be ‘more of a normal year’ for...

https://www.freightwaves.com/news/state-of-freight-reasons-to-be-bullish-on-second-half-of-2024

Carriers installing solar panels to reduce costs, extend battery life

Rising costs on nearly every line of a carrier’s income statement have compressed truckload margins, forcing fleets to come up with ways to protect profits. The use of solar energy to power tractor cabs is one such solution. The improvement in solar panel technology in the past couple of years has led to increased adoption from carriers.

The flexible panels weigh less than 20 pounds and have an adhesive allowing them to be attached to the roof of a truck, where they capture the sun’s energy. The...

https://www.freightwaves.com/news/carriers-installing-solar-panels-to-reduce-costs-extend-battery-life

Landstar adds 2 new sales roles to the C-suite

Freight broker Landstar System said Monday it has added two new members to its executive team. The roles were filled from within.

Matt Dannegger is now the company’s chief field sales officer, which will oversee the recruitment and management of independent sales agents. Landstar works with more than 1,000 agents currently. Dannegger was most recently senior executive vice president of agent field sales. He has been with the company for 16 years.

Jim Applegate is now Landstar’s (NASDAQ: LSTR)...

https://www.freightwaves.com/news/landstar-adds-2-new-sales-roles-to-the-c-suite

Dispute over ESG policies leads to a director departure at Werner

In a rare instance of internal board of directors disagreements jumping into public view, a director at Werner Enterprises has resigned, citing in part the truckload carrier’s “unquestioned dedication to ESG [environmental, social and governance] considerations as a primary strategy.”

Vikram Mansharamani’s resignation came before he faced the likelihood of not being be reelected to a second three-year term.

In a letter dated Feb. 27 and revealed publicly in a Werner (NASDAQ: WERN) Securities and...

https://www.freightwaves.com/news/dispute-over-esg-policies-leads-to-a-director-departure-at-werner

Shelley Simpson named CEO at J.B. Hunt in long-expected move

In a long-awaited move, Shelley Simpson has been elevated to CEO at J.B. Hunt. 

Simpson is currently the president of the trucking and intermodal provider. She has been with the company for almost 30 years and has been president since 2022.

Simpson will assume her new role July 1. She will remain president as well.

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]],...

https://www.freightwaves.com/news/shelley-simpson-named-ceo-at-j-b-hunt-in-long-expected-move

Deadline nears for filings as Werner seeks review of nuclear verdict

Deadlines are looming for all briefs to be filed with the Texas Supreme Court as it decides whether to review the enormous verdict against Werner Enterprises growing out of a 2014 fatal wreck. With interest, the sum now stands above $100 million.

A primary brief was filed in October by attorneys for the Blake family, which suffered one death, one catastrophic brain injury and other injuries in the Dec. 30, 2014, West Texas crash.

On Feb. 15, attorneys for Werner (NASDAQ: WERN) filed a brief for...

https://www.freightwaves.com/news/deadline-nears-for-filings-as-werner-seeks-review-of-nuclear-verdict

Freight markets still bottoming out, Cass data shows

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-4’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-4’); });

Freight shipments and expenditures continued to fall in January, according to data compiled in the...

https://www.freightwaves.com/news/freight-markets-still-bottoming-out-cass-data-shows

UPS to cut 12,000 jobs, may sell Coyote brokerage unit

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

UPS Inc. said Tuesday that it will explore strategic alternatives for its struggling truckload...

https://www.freightwaves.com/news/ups-to-cut-12000-jobs-may-sell-coyote-brokerage-unit

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.