Heartland Express Inc., C.H. Robinson Worldwide Inc., Ryder System Inc. and Eaton Corp. reported increased fourth-quarter earnings as trucking-related business across the industry benefited from an improving economy and growing demand.
Heartland's net income increased 36% to $21.5 million, or 25 cents per share, from $15.8 million, or 18 cents.
Revenue at the company, ranked No. 33 on the Transport Topics Top 100 list of for-hire carriers in the United States and Canada, climbed 11% to $203 million.
“Operating results for the quarter and the year were favorably impacted by declining fuel prices, a strong demand for truckload freight services and a favorable pricing environment,” Heartland’s statement said.
The company plans to add 1,500 new trucks this year.
C.H. Robinson, which is No. 6 on TT’s Logistics 50, increased net income 21.5% to $112.9 million, or 77 cents per share, from $93 million, or 62 cents.
Revenue rose 6.5% to $3.36 billion. Net revenue, or the amount after transport costs are paid, rose 14% to $474.3 million. That included 15% higher net revenue in the truckload brokerage sector, helped by 3% more freight and revenue per mile that climbed 12%.
Ocean, air intermodal and less-than-truckload brokerage results also improved.
Ryder said earnings, excluding pension costs, rose 18% to $84.9 million because of strong performance at its Fleet Management Solutions unit.
The fleet management unit, which includes full-service lease, rental and used-vehicle sales, posted 25% higher pre-tax profit of $122.5 million, and margins reached a six-year high.
The Supply Chain Solutions unit, No. 11 on the Top 100 raised pre-tax profit less than $1 million to $33.7 million.
Including pension and other one-time costs, Ryder’s net income fell 82% to $11.7 million, or 21 cents per share, from $65.9 million, or $1.22. Revenue rose 2% to $1.66 billion.
“We have entered 2015 well-positioned for growth,” CEO Robert Sanchez said. “We continue to benefit from improving economic conditions in North America.”
Ryder also set a 2015 earnings forecast goal of as much as 15% more per share above the full-year 2014 results, excluding pension costs.
Component maker Eaton reported its fourth-quarter earnings rose as sales improved in its vehicle segment.
Net income was $581 million, or $1.23 per share, up from $479 million, or $1, a year ago. Revenue rose to $5.6 billion from $5.5 billion.
The vehicle segment’s fourth-quarter operating profit jumped 28% to $163 million, while sales rose 4% to $965 million. The company said its 8% sales growth was offset by a 4% negative from foreign-exchange rates.
