Company Earnings

The trucking industry’s issues with driver availability along with customers’ commitment to sustainability are factors that could support growth for intermodal beyond 2021 and 2022, executives said during Hub Group’s earnings call on Thursday.

Wall Street investors liked what they saw in the company’s earnings, pushing the stock up by more than 8%.

“Our logistics segment has been thriving and growing, including contract logistics and port services, with the largest contributor being brokerage,” says Schneider CEO.

Market alliances that seek to convert truck traffic east and west of the Mississippi River could be a way for Canadian Pacific to grow its network, executives said during the second-quarter 2021 earnings call Wednesday.

As Wabash National streamlines its business, the trailer manufacturer will convert reefer capacity to add 10,000 dry vans in 2023.

The numbers that the company is getting on its used tractor and truck sales is outpacing the assumptions in last year’s big inventory writedown

The company posts solid numbers for its transport and logistics units as the logistics business prepares for trading on Monday as a spun-off entity.

Supply chain congestion is more about issues with throughput among various stakeholders and less about Norfolk Southern’s ability to handle volumes, executives said during NS’ second-quarter 2021 earnings call Wednesday.

CP’s second-quarter 2021 revenue totaled $1.64 billion in U.S. dollars.

Management has raised full-year revenue guidance to $3.45 billion-$3.55 billion.

Truckload carriers’ “spillover” freight ties up LTL capacity during unprecedented times, Old Dominion executives said.

The key profitability metric comes in 550 basis points below the company’s 2020 results.

A 24% increase in operating revenue contributed to record second-quarter net income of $819 million for Norfolk Southern.

E-commerce platform Shopify posted 57% growth in revenue in the second quarter as online shopping remained strong.

Robinson CEO Bob Biesterfeld said the truckload market will stay hot through 2021.

Despite all-time-high container production, demand continues to outpace supply and new box prices keep rising.

Peterbilt, Kenworth and DAF Trucks are sold out globally for 2021 as the global semiconductor shortage leaves 6,500 trucks awaiting parts.

TFI International’s hard line on unprofitable UPS Freight legacy business is helping accelerate the LTL carrier’s turnaround – and it’s just getting started

Pollution credit sales are less of a factor as vehicle profitability at Tesla shifts to overdrive in Q2.

TFI International beats analysts in the second quarter as its U.S. LTL division left its days as UPS Freight in the dust.

With two significant acquisitions in the last year, the major force in factoring embarks on a new path.

Cargo was the good news for Air Canada in the second quarter as the company still struggles out of a pandemic hole.

Supply chain disruptions for international intermodal are likely to last through the end of the year, Union Pacific President and CEO Lance Fritz said during the second-quarter earnings call on Thursday.

USX’s CEO Fuller says Variant division is near the ‘inflection point’ for the new initiative having a bigger impact on profitability.

Covenant Logistics Group beat second-quarter earnings expectations and said the second half of the year is likely to produce stronger results.

CSX wants to come up with long-lasting strategies to hire talent so that it can ensure that it can grow capacity in the future, said CSX President and CEO Jim Foote during the company’s second-quarter 2021 earnings call on Wednesday.

Union Pacific’s second-quarter 2021 net income grew 59% from a year ago to $1.8 billion amid a 30% gain in operating revenue.

Covenant Logistics Group reported a better-than-expected second quarter as freight demand remains elevated and capacity is in short supply. The company said the favorable conditions have carried into the third quarter.

Canadian trucking and logistics firm Mullen Group reported strong growth in the second quarter from a combination of a robust freight market and acquisitions.

Freight broker Landstar System sees continued strength in consumer spending push freight demand higher during the second quarter. The company posted its best quarterly results ever Wednesday after the market close.

The report is for a company that is about to undergo yet another change, with HubTran now in the fold.

The sale of property rights of CSX-owned line segments in Virginia more than doubled CSX’s net earnings for the second quarter of 2021 compared with a year ago. Net profit was $1.17 billion in the second quarter.

Daimler Truck sold more vehicles in Q2 than the previous quarter but warned that supply shortages threaten second-half financials.

Customers’ push to manage inventories will support rail volumes in the second half of the year, even though potential headwinds in the form of wildfires, supply chain congestion and COVID-19 loom.

Knight-Swift Transportation beat second-quarter estimates and raised its full-year guidance to include the favorable operating environment in addition to accretion from recent acquisitions. However, the improved outlook includes the expectation for continued cost headwinds around labor.

United Airlines’ cargo division is one of the company’s biggest assets right now, with big returns again in the second quarter.

Higher revenues propelled CN’s adjusted net income for the second quarter to grow by 16.5% to CA$1.06 billion.

Volvo makes no mention of the UAW strikes but smaller sibling Mack Trucks delivers more units in Q2 as the industry recovers from year-ago pandemic shutdowns.

Kuehne + Nagel is one of the largest third-party logistics providers in the world and it got larger in the second quarter.

J.B. Hunt Transport Services beat second-quarter expectations Monday. However, the back half of 2021 will depend on how well the railroads and shippers can improve their operations.

J.B. Hunt Transport Services reported better-than-expected second-quarter results Monday as the company saw double-digit revenue growth in all divisions when compared to the year-ago period, which contained widespread lockdowns from COVID protocols.

Prologis’ second-quarter results exceeded analysts’ expectations, and guidance moved higher as property rents are increasing at a record pace.

Heartland Express records its best consolidated operating ratio since its last acquisition was fully integrated.

Logistics real estate investment trust Prologis announced Monday that demand for space remains robust and that operations are the healthiest in its 38-year history. The company modestly beat expectations for the second quarter and raised its outlook for the rest of 2021.

Despite headwinds, KCS thinks it can still achieve double-digit revenue growth for 2021.

The $700 million fee to terminate a merger agreement with Canadian Pacific dented KCS’ second-quarter net income. But revenues were up 37% year-over-year.

Truckload’s operating ratio was better but OR deteriorated for dedicated.

Delta Air Lines is seeing strong domestic travel demand, but cargo also helped the company move beyond breakeven in the second quarter.

P.A.M. Transportation benefited from a tight truckload market in the second quarter to post record revenue and operating income.

Railcar manufacturer Greenbrier sees near-term support for new railcars, as well as longer-term support as companies focus on decarbonizing their operations.

The company reports strong fiscal 2021 fourth-quarter results, but warns that a persistent labor shortage will drive up costs and impede productivity.

XPO Logistics provided updated expectations for the second quarter and issued 2022 guidance for soon-to-be stand-alone logistics company GXO.

Autonomous trucking software startup TuSimple’s public offering helps boost Navistar Q2 earnings while a trucking recovery leads to added production.

The large year-over-year revenue increases recorded by less-than-truckload carriers in the second quarter continued with Yellow on Monday after the close. However, the carrier’s operating metrics lagged some of its competitors as it continues to execute a companywide overhaul.

Less-than-truckload carrier Old Dominion reported further acceleration in tonnage and yields in the first two months of the second quarter on Thursday.

Less-than-truckload carriers ArcBest and Saia report continued strength in demand through the first two months of the second quarter.

Truck broker Landstar System raises its second-quarter guidance as shipments and pricing outpace its initial outlook.

Allowances for potential future write-offs also showed improvement in the bank’s second quarter.

ZIM is the liner most exposed to upside from America’s import binge. It’s taking full advantage of the situation.

The company’s pickup and delivery revenue jumps; about 95% of sales were fulfilled from stores

Rising rail traffic and lower numbers of railcars in storage should benefit FreightCar America, as should anticipated market demand to replace an aging railcar fleet, executives said during Monday’s first-quarter earnings call.

The retail giant clobbers its first-quarter fiscal 2022 estimates, while its chairman says the company is more optimistic about 2021 than it was at the start of the year.

Also on the podcast, KeyBank’s Fowler talks about what blowout Q1 earnings said about the state of trucking.

FreightWaves looks at five themes that ran throughout the earnings discussions of the Class I railroads.

DoorDash reported a 198% increase in Q1 revenue compared to Q1 2020, and a 219% increase in orders, although it still posted a negative 34-cent EPS.

Canadian trucking and logistics firm Titanium Transportation Group reported record first-quarter revenue as its U.S. brokerage business and newly expanded trucking fleet fired up the growth engine.

Danaos will stockpile cash from the current boom and spend it on new ships when environmental regs are clearer.

Third-party logistics provider Radiant Logistics handily beat quarterly expectations Monday. Management has returned its focus to share buybacks and M&A.

Formerly containerized cargoes are being loaded onto bulkers. Box-ship orders are keeping future bulker growth in check.

Flatbed truckload provider Daseke reported first-quarter adjusted earnings better than expected. However, with a more than 5x run-up in share price over the past year, a decent quarterly report without a guidance raise sent the stock lower on Friday.

Cold storage facility operator Americold said food manufacturers are “failing to meet the needs of retailers” as COVID-related production shutdowns have drawn down food stocks. The impacts from lower inventories and throughput were seen in the company’s first-quarter report.

An improving economy and a $170 million investment in Bitcoin drove payment provider Square’s revenue up 266% and profits up 79%.

Tanker execs explain lack of distress sales and scrapping this time around, and why new orders will be more curtailed.

A market recovery is underway for railcar lessors and equipment manufacturers, but the market also has a ways to go before it bounces back completely, according to industry observations.

Wayfair said its active customer base grew 57.1% in the past year, and those customers are ordering more items, leading to a nearly 50% increase in Q1 revenue.

Anticipated growth for intermodal will help to support Hub Group’s investments for that sector in 2021.

Less-than-truckload carrier Yellow Corp. reported a sizable first-quarter loss Wednesday as weather, increased purchased transportation expense and a lack of gains on real estate sales weighed on the period.

The earnings call revealed that Uber, like so many others, is working to fill out its driver ranks.

First-quarter revenue results were aligned with FLEETCOR’s expectations, but at $609 million, they fell 8% short of first-quarter 2020 results.

The across-the-board gains exceeded expectations and reflect increasing end-market strength, Trimble CEO says.

The German company posts record first-quarter profits and substantially raises full-year earnings and cash flow targets.

Maersk reveals more details on its shift toward long-term contracts at the expense of spot exposure.

Cargojet wants a bigger slice of the U.S. e-commerce and heavy air cargo market. It’s looking for an investment opportunity and has identified new trends in e-commerce that will keep volumes high in North America.

The first-ever deal with Apple is part of $4 billion in logistics contracts for XPO since the year began.

Lyft reported a narrower loss in its Q1 earnings as riders began returning to the platform.

Engine maker Cummins absorbed $105 million in freight costs to get microchips needed for engines during the trucking boom.

Despite a tough comparison with a year ago, Meritor saw sales and earnings increase in its Q2 fiscal quarter.

ArcBest points to the current “robust demand” environment as supportive of raising equipment spending in 2022.

In the prepared statement released with earnings, CEO Musser says the current market has no precedents.

Logistics provider ArcBest Corp. posted first-quarter results well ahead of analysts’ expectations Tuesday.

Diesel sales at the company showed a slight decline from the fourth quarter but were significantly higher than Q1 2020.

Company boosts its full-year EBITDA range, and discloses 11-year, $1.8 billion logistics contract with unidentified customer.

Executives with parent company Berkshire Hathaway expect BNSF to take steps to protect the railroad’s franchise as the merger between Kansas City Southern and one of the Canadian railways makes its way through regulatory review.

Chinese container production still trails torrid demand. Ever Given accident was ‘icing on the cake’ — making box shortfall worse.

Universal Logistics Holdings reported $415.2 million in operating revenue during the first quarter.

Forward Air provided some clarity on longer-term margin expectations during a Friday conference call with analysts. The company beat first-quarter expectations and its new guidance came in much better than expected.

Olsavsky says the one-day delivery service needs to get on top of burgeoning demand and warehouse space shortages.

Forward Air reported first-quarter earnings results and issued second-quarter guidance that were both ahead of expectations.

Provider of fuel payment processing for fleets reported 5% revenue decline in first quarter

The truckload carrier’s OR went from in excess of 100% to 95.8%.