Analyst Lowers 2Q Outlook
An analyst with Stifel, Nicolaus & Co. lowered the second-quarter and full-year earnings estimates on 13 freight companies — including 12 trucking companies — citing continued softness in the transportation market, the Associated Press reported.
Trucking analyst John Larkin wrote in a note to investors that second-quarter demand for freight transportation in the second quarter has not improved much compared from the first quarter, AP reported.
Larkin cited weak and inconsistent freight volumes in the second quarter. American Trucking Associations’ most recent truck tonnage index showed a 2.7% decline in April from a year ago.
Railroads have seen carload losses of 3.8% and intermodal load declines of 3% compared to last year, AP said.
