Werner Enterprises

Owner-operators seek one-year suspension of heavy vehicle tax

Small-business truckers are countering a tax proposal by their big-business counterparts with one of their own: Suspend the heavy vehicle use tax (HVUT) — a better way to provide relief to the industry than suspending the federal excise tax (FET), they contend.

In a Thursday letter to congressional leaders, the Owner-Operator Independent Drivers Association (OOIDA) argued that a one-year suspension of the HVUT — an annual fee that costs about $550 per truck — would help every trucking business,...

https://s29755.pcdn.co/news/owner-operators-seek-one-year-suspension-of-heavy-vehicle-tax

Schneider eyes deployment of growing cash balance

Schneider truck on highway

On its second-quarter earnings call with analysts, members of truckload (TL) carrier Schneider National’s (NYSE: SNDR) management team said they expect TL volumes to be higher year-over-year in the third quarter.

Prior to the market open on Thursday, the Green Bay, Wisconsin-based company reported second-quarter 2020 adjusted earnings per share (EPS) of 26 cents, 7 cents better than consensus but 8 cents lower year-over-year.

Currently, the carrier is seeing daily freight tenders exceed available...

https://s29755.pcdn.co/news/schneider-discusses-deployment-of-growing-cash-balance

Werner model stands up during downturn

Werner truck on highway

“Encouraging conversations with customers” was one of the highlights from Werner Enterprises’ (NASDAQ: WERN) earnings call with analysts Wednesday evening. Werner President and CEO Derek Leathers said demand is strong throughout the country, particularly in the West, as truck supply is tight.

The company reported adjusted earnings per share (EPS) of 62 cents for the second quarter, significantly better than the 40-cents-per-share consensus estimate.

The Omaha, Nebraska-based truckload (TL)...

https://s29755.pcdn.co/news/werner-model-stands-up-during-downturn

Werner Q2 continues truckload earnings beats

Werner truck on highway

Werner Enterprises (NASDAQ: WERN) reported adjusted earnings per share of 62 cents for the second quarter, significantly better than the 40-cents-per-share consensus estimate and only a penny light of last year’s result.

The result excluded 4 cents per share in incremental depreciation expense associated with a change in the lifespan of trucks that will be sold this year and a smaller amount in accrued insurance and claims expense for a prior accident.

The transportation and logistics provider...

https://s29755.pcdn.co/news/werner-enterprises-second-quarter-earnings

Gerdin family to sell portion of Heartland Express stock

Heartland Express truck on road

Heartland Express (NASDAQ: HTLD) announced a secondary stock offering by the Gerdin family trust in a press release after the market close Tuesday.

The offering is for the public sale of 3,260,870 shares of the company’s common stock and up to a total of 3.75 million shares if the underwriter exercises its 15% option, approximately $80.7 million in total based on Tuesday’s closing price of $21.52. The Gerdin family will own at least 32.3 million shares, 39.7% or roughly $700 million, of the...

https://www.freightwaves.com/news/gerdin-family-to-sell-portion-of-heartland-express-stock

Ryder chooses Trucker Tools technology for its brokerage division

Ryder to use Trucker Tools in brokerage

Ryder System (NYSE: R) is adding the technology platform from Trucker Tools to its brokerage division to help support carrier engagement and digital process automation.

“This engagement fully aligns with our strategy of engaging innovative, forward-thinking technology partners that can further enhance our service offerings,” said Dave Belter, vice president and general manager of global transportation management solutions for Ryder. “Trucker Tools delivers improved freight transparency and...

https://s29755.pcdn.co/news/ryder-chooses-trucker-tools-technology-for-its-brokerage-division

The Daily Dash: More states consider electric-truck mandates; stay safe and ignore HOS; why electric?

Freightliner eCascadia

The Daily Dash is a quick look at what is happening today in the freight ecosystem. In this edition, California is mandating electric-truck sales, and some other states may follow suit. Plus, drivers facing life-or-death situations shouldn’t worry about hours-of-service violations and why are investors so interested in electric-truck makers? 

As California goes, so goes the nation

When California announced the world’s first electric-truck sales mandate, it garnered headlines and its fair share of...

https://s29755.pcdn.co/news/the-daily-dash-more-states-consider-electric-truck-mandates-stay-safe-and-ignore-hos-why-electric

Merrill Lynch boosts Knight Swift, J.B. Hunt and ArcBest

The transportation team at Bank of America Merrill Lynch (BOAML) is bullish on trucking stocks, raising the price objectives on a handful of them by several dollars per share.

The team led by Ken Hoexter based its increase in price objective (PO) on “the inflecting demand and spot rate environment.” It did not increase its buy/neutral/sell recommendation on any stocks. 

Getting an upward kick from the BOAML team was Knight-Swift (PO now $49, was $46, stock closed earlier this week  at $43.05);...

https://s29755.pcdn.co/news/merrill-lynch-boosts-knight-swift-j-b-hunt-and-arcbest

Werner Enterprises expands final-mile service into Canada

Truckload carrier Werner Enterprises (NASDAQ: WERN) is expanding its final-mile service into Canada, aiming to get a larger slice of the exploding e-commerce market.

“Our experience in Canada for more than 20 years, combined with our delivery capability, will help many of our e-commerce customers serve new and existing customers in the Canadian market,” Craig Stoffel, vice president of global logistics and final mile for Werner Enterprises, said in a release.

Werner Final Mile logistics solutions...

https://s29755.pcdn.co/news/werner-enterprises-expands-final-mile-service-into-canada

Regulators give relief to Werner during ELD transition

Federal regulators are helping Werner Enterprises (NASDAQ: WERN) transition from Omnitracs to Platform Science electronic logging devices (ELDs) by temporarily exempting the carrier from certain data requirements as it makes the switch.

The exemption, issued by the Federal Motor Carrier Safety Administration (FMCSA) on July 6, acknowledges “incompatibility issues” between Omnitracs and Platform Science, and will therefore allow the company to leave blank five required data fields in the...

https://s29755.pcdn.co/news/regulators-give-relief-to-werner-during-eld-transition

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