Norfolk Southern Profits Up 12%, Beat Analyst Estimates
Norfolk Southern Corp. announced that profits increased 12% in the first quarter as a result of strong rebounds in coal and intermodal business compared with early 2016.
Old Dominion Profits Up 9.1%, Beat Analyst Estimates
Old Dominion Freight Line Inc. reported profits rose 9.1% in the first quarter, a positive start for the major less-than-truckload companies scheduled to report earnings by May 5.
Swift Suffers in First Quarter as Profits Plunge 84%
Swift Transportation reported profits plunged 84% in the first quarter compared with 2016 as truckload carriers suffered from continued excess capacity and lower contract prices than they had hoped for this year.
Profits at Ryder Fall 32%, Miss Analyst Estimates by 2¢
Ryder System Inc. reported profits fell 32% in the first quarter compared with 2016 after a drop in demand to rent trucks and an overall weak used truck sales market continued into 2017.
March Tonnage Up 0.7%
American Trucking Associations’ tonnage index rose 0.7% last month compared with March 2016, one of several figures pointing to a better market than a year ago but not as good as this February.
Truckload Profits Lackluster as Quarterly Reports Begin
Marten Transport Ltd. posted a slight increase in quarterly profits, among the few major truckload carriers recently reporting results to record a gain as the earnings season gets underway.
Profits Up at CSX, Decline at CP in 1Q; Harrison Pushes for Rail Consolidation
Rail freight companies began the earnings season with mixed results as profits rose 1.7% at CSX Corp. but plunged 20% at Canadian Pacific Railway Ltd. in the first quarter compared with the same period a year ago.
Heartland Profits Drop 2.3% but Beat Analyst Forecasts
Heartland Express Inc. reported profits fell 2.3% after a sharp decline in revenue due to the soft freight environment and poor weather in the western United States.
Kansas City Southern Profits Up Despite Mexican Peso Depreciation
Kansas City Southern reported profits rose 36% in the first quarter, although the gains were lowered to a 12% increase after applying the exchange rate between the Mexican peso and the U.S. dollar.
Truck Tonnage Hurt by Late Winter Storms in March
Truck tonnage rose 0.7% last month compared with March 2016, although the American Trucking Associations’ chief economist said that late winter storms hurt the index compared with this past February.