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Profits Decline at Most LTLs As Surcharges Lag Fuel Hikes
Most public less-than-truckload companies’ second-quarter profits fell
as fleets were pounded by record diesel prices and flagging economic
demand, but some executives said they thought the overall pricing
environment had improved, or at least stabilized.
Matt Silver, CEO of Cargado, discusses how AI, data and smarter platforms are reshaping cross-border shipping.
GAO Claims Many Truckers Skirt DOT Health Regulations
WASHINGTON — The Government Accountability Office said last week that hundreds of thousands of truck drivers with potentially serious medical conditions are being allowed to drive heavy vehicles, citing loopholes and weaknesses in the federal government’s program to certify drivers.
July 28, 2008Rush Enterprises’ 2Q Earnings Fall
Truck dealership Rush Enterprises’ first-quarter net income fell to $6.1 million, or 16 cents a share, down from $13 million, or 34 cents, a year ago.
July 24, 2008Hub Group Reports Higher 2Q Earnings
Third-party logistics company and freight broker Hub Group’s second-quarter net income rose to $15 million, or 40 cents a share, from $13.8 million, or 35 cents, a year ago.
July 24, 2008Union Pacific’s 2Q Profit Jumps 19%
Union Pacific Corp. said Thursday its second-quarter profit rose 19%, on higher demand for agricultural transportation.
July 24, 2008Vitran Reports Lower 2Q Income
Vitran Corp. said Wednesday its second-quarter profit fell 16% to $4.6 million, or 34 cents a share, from $5.5 million, or 41 cents, a year earlier.
July 23, 2008Ryder Reports Mixed 2Q Earnings
Ryder System Wednesday reported a second-quarter profit of $62.9 million, or $1.10 per share, compared with $65.1 million, or $1.07 per share, a year ago.
July 23, 2008Knight Reports Lower 2Q Earnings
Truckload carrier Knight Transportation’s second-quarter profit fell to $12.7 million, or 15 cents a share, from $18.2 million, or 21 cents, a year ago.
July 24, 2008Canada’s Two Largest Railroads Report Lower Income
Canada’s two biggest freight railroads reported downturns in their second-quarter profits, Bloomberg reported.
July 22, 2008Caterpillar’s 2Q Income Jumps on International Demand
Heavy equipment and diesel engine maker Caterpillar Inc. said Tuesday its second-quarter profit rose 34%, led by international demand.
July 22, 2008