Truckload Archives - Page 36 of 77 - Maritime Shipping News

SmartHop hires Uber alum Liu, opens New York, Colombia offices

22 April 2021

Following a $12 million funding round announced in February, SmartHop is moving forward quickly with new hires and expansion of its services.

The company, which uses artificial intelligence to deliver smart load recommendations, full-service back-office support and fintech products for small trucking companies, announced the appointment of Amy Liu as chief of staff. Liu is the first employee in the company’s new New York City office.

SmartHop also announced the opening of an office in Bogota,...

https://s29755.pcdn.co/news/smarthop-hires-uber-alum-liu-opens-new-york-colombia-offices

P.A.M. Transportation sees turnaround in Q1

22 April 2021

P.A.M. Transportation sees fundamentals improve in March

P.A.M. Transportation Services (NASDAQ: PTSI) reported net income of $11.9 million during the first quarter of 2021 compared to a loss of $1.3 million in the year-ago quarter.

The Tontitown, Arkansas-based carrier’s consolidated revenue increased 15% year-over-year to $149 million as its logistics division saw revenue more than double in the period.

The company doesn’t provide operating metrics — loads, revenue per load or gross margin — for its logistics segment but the operating ratio improved...

https://s29755.pcdn.co/news/pam-transportation-sees-turnaround-in-q1

Landstar’s watershed Q1 likely to yield to more records in 2021

22 April 2021

Huge beat-and-raise quarter from Landstar

Freight broker Landstar System (NASDAQ: LSTR) announced record earnings per share of $2.01 after the market closed Wednesday. The result was well ahead of the $1.63 consensus estimate and nearly double the year-ago quarter.

The Jacksonville, Florida-based company reported a revenue increase of 39% year-over-year to $1.29 billion. Gross profit climbed 32% to $189 million, “an all-time quarterly record.” The press release called out the prior-year quarter as not being an easy comparison due to...

https://s29755.pcdn.co/news/landstars-watershed-q1-likely-to-yield-to-more-records-in-2021

GP Transco hikes pay in ‘major’ way for company drivers

21 April 2021

Trucking company GP Transco announced Wednesday a “major base pay increase” for w-2 drivers. Solo company drivers will see 60 cents per mile in base pay, roughly 66 cents per mile in total when including accessorial pay for layovers and extra stops. Team drivers will earn a base rate of 75 cents per mile, nearly 80 cents all in.

Solo drivers who opt out of using driver-facing cameras will earn a base rate of 58 cents per mile as well as accessorial pay.

The increase in base pay, roughly 5 cents...

https://www.freightwaves.com/news/gp-transco-hikes-pay-in-major-way-for-company-drivers

Heartland Express to raise driver pay again; slight miss in Q1

21 April 2021

Heartland Express (NASDAQ: HTLD) pointed to winter storms as having a negative impact on revenue during the first quarter on Wednesday.

The North Liberty, Iowa-based carrier reported earnings per share of 17 cents, a penny light of consensus but a penny higher year-over-year. Revenue, excluding fuel surcharges, was down 8% to $136 million.

“The first two months of the quarter delivered strong freight demand but were restricted by significant weather shutdowns in the month of February,” stated...

https://www.freightwaves.com/news/heartland-express-to-raise-driver-pay-again-slight-miss-in-q1

Headline beat for Knight-Swift; 2021 to see mid-teen jump in contract rates

21 April 2021

Trucking market to remain tight throughout 2021, according to management

The nation’s largest truckload carrier, Knight-Swift Transportation (NYSE: KNX), posted a better-than-expected first quarter Wednesday. The Phoenix-based company reported adjusted earnings per share of 83 cents, 13 cents ahead of consensus and 39 cents better than the year-ago quarter.

The quarter benefited from a reversal of almost $23 million in other income when compared to the prior year. “The year-over-year improvement was primarily driven by gains recognized within our portfolio of...

https://www.freightwaves.com/news/headline-beat-for-knight-swift-2021-to-see-mid-teen-jump-in-contract-rates

Shipments up, freight spend way up — Cass reports

16 April 2021

Freight expenditures surged with another step higher in volumes, according to March data released by Cass Information Systems (NASDAQ: CASS) on Friday. The Cass Freight Index posted cycle highs with the expenditures’ subindex displaying a new record.

The proxy for freight payments was 27.5% higher year-over-year and 7.9% higher than February. This was the third all-time high recorded in the dataset over the past four months. The report said that the increase in the overall index was equally...

https://www.freightwaves.com/news/shipments-up-freight-spend-way-up-cass-reports

Marten hit hard by weather, but bottom line is improved

16 April 2021

Marten Transport (NASDAQ: MRTN) kicked off the truckload earnings season with a report that showed modest gains in revenue compared to the first quarter of last year, but a significant increase in operating and net income.

In a phone interview with FreightWaves, Tim Kohl, president, and Jim Hinnendael, executive vice president and chief financial officer, said the company had been hit hard by the snow and ice of the Texas/southeast U.S. storm of mid-February.

“We got hit more than anybody else...

https://s29755.pcdn.co/news/marten-hit-hard-by-weather-but-bottom-line-is-improved

J.B. Hunt lays out new margin targets for all segments

16 April 2021

J.B. Hunt Transport Services (NASDAQ: JBHT) updated operating income margin targets for each of its five divisions during its first-quarter earnings call Thursday evening.

The company slightly lowered its intermodal margin target to a range of 10%-12% from the prior range of 11%-13%. The dedicated segment’s margin target was raised by 100 basis points on each end to 12%-14%. Targets were reiterated in brokerage (4%-6%) and final mile (4%-8%). The margin target for the truck division was lowered...

https://s29755.pcdn.co/news/jb-hunt-lays-out-new-division-margin-targets

J.B. Hunt Q1 beats expectations

15 April 2021

J.B. Hunt Transport Services (NASDAQ: JBHT) reported first-quarter earnings of $1.37 per share Thursday after the market close, 19 cents ahead of the consensus estimate and 39 cents better year-over-year.

Revenue increased 15% year-over-year to $2.62 billion in the quarter with each division recording growth.

Intermodal volumes were down 3% year-over-year in the quarter, in part due to severe winter storms in February that negatively impacted roughly 25,000 load opportunities. Revenue per load...

https://www.freightwaves.com/news/jb-hunt-q1-beats-expectations

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