truckload pricing
Investor conference highlights bullish truckload market; intermodal demand returns
Tight capacity and rising demand have carriers encouraged about the future. This dynamic was echoed by several transportation providers appearing virtually at Cowen’s 13th annual Global Transportation & Sustainable Mobility Conference on Wednesday.
Carriers struggle to keep up with rising demandSchneider National’s (NYSE: SNDR) Chief Financial Officer Steve Bruffett said if the company’s current load tenders fell by 10% to 15%, it would still have more freight than it could handle on a daily...
Knight-Swift posts 2Q beat, reinstates guidance above pre-COVID level
The streak of truckload (TL) carriers outperforming second quarter earnings estimates continues with the nation’s largest carrier, Knight-Swift Transportation Holdings Inc. (NYSE: KNX) reporting adjusted earnings per share of $0.57, well ahead of the consensus estimate of $0.35.
The company excluded $10 million, $0.06 per share, in incremental cost associated with operating during the pandemic. Knight-Swift reported earnings per share of $0.47 on an unadjusted basis, a penny higher...
https://s29755.pcdn.co/news/knight-swift-posts-2q-beat-reinstates-guidance-above-pre-covid-level
‘Uncertainty’ clouds second-half visibility for J.B. Hunt
Management from J.B. Hunt Transport Services (NASDAQ: JBHT) had a “cautious tone” on the company’s second-quarter earnings conference call with analysts when discussing expectations for the remainder of the year. The lack of an update on future freight demand largely stems from uncertainty on the part of its shipper client base. Accelerating frequency in COVID-19 cases and the fear of another wave of the virus has limited visibility into the third quarter and beyond.
The Lowell, Arkansas-based...
https://s29755.pcdn.co/news/uncertainty-clouds-second-half-visibility-for-j-b-hunt
Worst truckload linehaul data in 15 years may mark the bottom
Payment management solutions provider Cass Information Systems’ (NASDAQ: CASS) freight index fell mightily in April as expected. The shipments component of the index dropped 22.7% year-over-year with the expenditures component off 18.2% as the U.S. economy felt the brunt of a full month’s worth of lockdowns.
The report’s author, Stifel Financial (NYSE: SF) equity research analyst David Ross, said April marks the bottom. “May should be better, as the U.S. economy slowly begins to reopen and some...
https://s29755.pcdn.co/news/worst-truckload-linehaul-data-in-15-years-may-mark-a-bottom
Investor conference highlights trucking headwinds, tailwinds as economic restart looms
The outlook from management teams of several truckload (TL) and transportation companies participating virtually in the Bank of America Transportation and Industrials Conference this week hasn’t changed dramatically from their earnings reports a couple of weeks ago. However, sentiment is improving slightly as more of the economy is poised to come back online.
Thoughts on the overall market
John Kuhlow, interim CFO at J.B. Hunt Transport Services (NASDAQ: JBHT), said some “uncertainty remains,”...
USA Truck posts quarterly loss; debt leverage rises
Van Buren, Arkansas-based truckload (TL) carrier USA Truck Inc. (NASDAQ: USAK) reported an adjusted first-quarter 2020 net loss of $2.2 million, or 26 cents per share, 10 cents better than the consensus estimate. The carrier reported adjusted net losses of $4.5 million in the fourth quarter and $1.1 million during the third.
The company’s trucking division posted an adjusted operating loss of $1.3 million with a 101.5% operating ratio, 430 basis points worse year-over-year. Revenue was basically...
https://s29755.pcdn.co/news/usa-truck-posts-quarterly-loss-debt-leverage-rises