Company Earnings

Daimler AG revealed difficult first-quarter results, removing mystery from next week’s earnings report, which shows all segments struggling, including its truck manufacturing business.

The western U.S. railroad can deploy additional cost reduction measures, but how much cost savings it can realize from those measures will depend on how much rail volumes fall in the second quarter.

Landstar has seen volume declines accelerate in recent weeks and management believes that a recovery is unlikely until the automotive and building products segments resume activity.

Other metrics helped the LTL carrier post a new record.

Rush Enterprises, the largest seller of new and used trucks in the country, posted solid first quarter results but is concerned about coronavirus-related carnage to come.

Transportation invoice volumes fall 7.5% for payment services provider Cass Information Systems.

Heavy-duty truck maker AB Volvo saw business seize up in mid-March but exited the quarter with lower but still positive sales and profits.

Despite lower revenues, the western U.S. railroad saw its first-quarter net income increase as the company trimmed quarterly expenses by 10%.

Jason Bates will fill the vacant CFO role at Daseke after three years in the same role at USA Truck.

o hedge against rail volume uncertainty in the second quarter, CSX aims to control costs.

Canadian transportation and logistics company says it laid off or furloughed 1,000 employees as it posts first-quarter results.

Margins widened again in April, but revenue per day is down 12%.

Landstar System calls attention to its variable cost model as first quarter falls short of expectations. No guidance issued for second quarter.

CSX’s (NASDAQ: CSX) first-quarter net profit fell 7.7% amid lower revenues and a record operating ratio. First-quarter 2020 net income was $770 million, or $1 a share, compared with $834 […]

Knight-Swift’s better than expected quarter yields to further uncertainty as the year progresses.

Precision scheduled railroading and its workforce will help CP get through anticipated challenges in the second quarter, company executives said.

Canada’s largest transportation company reveals cutbacks as it reports a 16% jump in profits during the first quarter.

Manhattan Associates first quarter was well ahead of expectations. Management lowered guidance, but believes that this downturn will be shorter in duration.

The railway’s first-quarter net income slipped on higher income tax expenses. But total revenue rose nearly 16% in the first quarter of 2020 while operating expenses were roughly flat-to-higher.

Prologis reports solid first quarter, but reels in guidance on COVID-19 headwinds. An uptick in demand is not likely until a vaccine is discovered.

Heartland Express’ better than expected result was diminished by the lack of gains on equipment sales.

PACCAR Inc. posted decent first quarter earnings despite shuttering its plants in late March because of the coronavirus pandemic. While truck orders cooled, parts sales set a record as the truck maker tries to build on 81 consecutive profitable years.

Loan quality deteriorated slightly, but TriumphPay is growing fast.

The railroad will be keeping tabs on operational costs as a way to hedge against the economic uncertainty brought about by the COVID-19 pandemic.

With the belt tightened at YRC, a covenant waiver and benefits contribution deferral are still required.

Cross-border movements of chemicals and petroleum products, as well as intermodal shipments, helped propel revenue higher.

Other segments at the truckload carrier had weaker performances.

Diminished railcar demand and COVID-19 headwinds force railcar maker to halt production and trim staff.

P.A.M. Transportation finds success calling on its “friends in the industry” as it scrambles to replace lost automotive OEM business.

The J.B. Hunt first-quarter conference call provided a mixed bag of anecdotes. While concerns mount over economic disruption, the company has some offsets.

J.B. Hunt’s first quarter results, while slightly below consensus, were likely not as bad as feared. The company’s outlook provided on its earnings call will be the takeaway.

Cass data plummets further, erasing any chance of second-quarter year-over-year growth in shipments and freight costs, according to report.

Prologis’ update highlights strength of the logistics real estate market entering pandemic. Some clients are asking for rent relief.

The global logistics giant said its Q1 profits among its five business divisions suffered from the coronavirus upheaval.

Morgan Stanley survey shows coronavirus disruption is accelerating for carriers, shippers and brokers, but the height of the disruption may be closer than some may think.

Activist investor Barna Capital seeks to swap out YRC Worldwide board members and make non-executive level changes in management.

While transportation industry participants have an abundance of questions loaded for management teams this earnings season, answers on the future will be tough to provide.

Even with a better-than-expected fiscal second quarter, Greenbrier invokes several measures to protect its workers and the “viability of the enterprise.”

FedEx provides a rather dim near-term outlook on operations and announces cost savings and balance sheet actions to preserve liquidity.

Tyson Foods plans to pay drivers and essential personnel $60 million in “thank you” bonuses for service during the pandemic.

After a surge in freight over the past few weeks, UBS transportation analyst Tom Wadewitz is predicting a rough two months.

Roadrunner Transportation Systems announces the sale of another business unit, this time unloading Stagecoach Cartage and Distribution.

Hub Group joins other transportation companies in accessing revolving credit to improve liquidity.

ArcBest battens the hatches on coronavirus concerns. The company draws down available credit and implements business continuity plan.

Roadrunner seeks voluntary delisting from the NYSE as it continues its reorganization and focuses on asset-light offerings.

Clear benefits in its truckload and dedicated divisions, but challenges in brokerage.

Truck component supplier Meritor idles plants and cuts base salaries up to 50% to save the ship from rough seas.

P.A.M. Transportation says it has temporarily laid off approximately 75 employees as auto plant closures increase.

J.B. Hunt announces $500 one-time bonus for drivers and field staff serving during COVID-19 pandemic.

Morgan Stanley upgrades its freight transportation industry view from “cautious” to “in-line.” The firm lowered its earnings expectations for the group.

Limited food options in the new Pennsylvania opening, but better than zero.

TA’s CEO says it’s a sign of supply chain “resilience.”

Citing a deterioration in market conditions, XPO announces that it is no longer looking to spin-off its separate business units.

Canadian bank’s transportation portfolio already had been sagging.

Company suspends fiscal 2020 earnings forecast due to COVID-19 outbreak

Stifel Financial sees an OK first quarter, but the picture gets less clear after that, with risks to second-quarter earnings estimates.

Stifel Financial’s conference call with industry executives forecasts supply chain disruption extending to July or longer.

Virus-related demand headwinds bring fresh declines in February Cass data. Visibility into a potential trucking recovery is further clouded.

Most companies are right near the 25% decline in the market since February 1.

Cross-border trucking and logistics firm isn’t cheering for the pandemic. But for the moment, freight volumes are increasing in Canada and the U.S. even as fears over fallout loom on both sides of the border.

Lightweight electric van maker expects to build 300-400 units this year as transition to production inches forward while costs remain high amid Q4 revenue of just $3,000.

Daseke expects weakness in the industrial markets and oil and gas sectors to persist. Management said the environment was sequentially weaker in the first quarter.

Chief Financial Officer Alan Graf to retire at year-end. Corporate Vice President and Treasurer Mike Lenz to assume the role in September.

XPO announces deal to buy the majority of Kuehne + Nagel’s U.K. contract logistics segment. The deal comes shortly after XPO announced plans to divest units.

Tonnage headwinds and better yields are the story so far in 2020. Old Dominion Freight Line reports modest revenue decline.

Profits grew in the fourth quarter and full-year 2019 at ATSG as its leasing and airline subsidiaries both performed well.

Difficult quarter met expectations as truck maker weighs unsolicited buyout offer from TRATON SE that would assure Big Four manufacturers remain in North American trucking industry.

‘Strong sales’ in February are expected to continue through Easter. Disruptions to the company’s supply chain continue to be monitored.

Final-mile acquisitions continue. CRST adds to its service offering by acquiring NAL Group.

China’s largest ecommerce company, JD.com, not ready to completely quantify coronavirus disruption.

It has been a particularly rough start of the year for tanker stocks despite exceptionally strong results.

FreightCar America’s fourth-quarter results highlight the weakened railcar demand environment.

The unit was acquired from GE Capital in 2015 and has struggled recently.

No evidence yet of coronavirus-induced drop in dry bulk rates. Is it coming?

Schneider National’s new Dallas operating center set to open as the company looks to grow its active fleet.

Lowe’s sees positive sales comps in 14 of 15 regions, but full-year fiscal 2020 guidance disappoints.

ORBCOMM lowers full-year 2020 guidance given recent coronavirus developments.

The Home Depot continues to report record sales growth on the back of a “very strong” consumer.

Higher fuel sales and restoration of the federal tax credit for biodiesel blending boosted the bottom line. However, operating margins continued to be under pressure and the travel center operator borrowed money to cover general expenses.

Lower operating expenses helped buoy BNSF’s quarterly and annual profits despite declines in rail volumes and revenue.

Higher margins from completed vehicles help offset hit from GM strike as Canadian auto manufacturer warns of potential impact of coronavirus.

Americold sees “lots of occupancy opportunities” for cold storage moving forward.

The rail equipment manufacturer and lessor is reducing deliveries of new railcars at the start of 2020, but it’s eyeing an improving market later this year.

Atlas Air had a difficult year in 2019, but has made some tactical decisions to turn around its financial performance.

Heavy-duty transmission maker Allison reported lower sales and profits across its product line with its North America on-highway business the sole exception.

Outlook of world’s largest container line hinges on timing of coronavirus containment.

The rail equipment manufacturer and lessor managed to increase quarterly revenues despite a slump in North American railcar demand.

Headwinds from one-time expenses, geopolitical tensions in Asia and the grounding of Boeing 737 MAX aircraft kept Air Canada from growing profits in line with stock market expectations.

Asian refineries suddenly have too much gasoline, diesel and jet fuel. Buyers in the West are taking the overflow, a plus for product tankers.

Declines in Cass data accelerate but report calls for rates to inflect higher in 2020.

The second half of 2020 is shaping up to be either very good or very bad for dry bulk shipping.

EXPD earnings fell 23% year-over-year; management cited the business cycle and warned about Q1 coronavirus impacts.

Walmart’s fiscal fourth quarter comes in light of expectations as holiday activity was lower than expected.

Old Dominion Freight Line announces a 4.9% general rate increase after reporting market stabilization in January.

Into its second decade of existence, Daseke pumps the brakes on acquisitions and attempts to streamline all that it has bought.

Record fourth quarter revenues were spoiled by $118 million in extra depreciation costs.

Fuel card provider WEX Inc. reports a solid fourth quarter but calls out weakness in the trucking market.

Recent changes in electronic logging device mandates put a hit on the company’s bottom line in 2019 — and probably in 2020.

Rush Enterprises Inc. (NASDAQ: RUSHA), which operates the largest network of commercial vehicle dealerships in North America, on Wednesday reported fourth-quarter revenue of $1.3 billion, compared to revenue of $1.5 […]

Acquisitions and strong less-than-truckload performance help bring record revenue to Mullen Group’s trucking and logistics business and offset declines from its struggling oil services.