Business

YRC Worldwide Inc. reported that earnings rose 4% in the second quarter due to the decline in expenses outpacing the drop in revenue for the company’s two less-than-truckload divisions.

Universal Logistics Holdings Inc. second-quarter earnings fell 32%, and Heartland Express Inc. net income slipped 30%, consistent with weaker results reported by almost every other truckload carrier.

The co-chairman of the state’s powerful budget-writing committee called on Gov. Scott Walker this week to consider finding ways to raise revenue for the state’s transportation budget, which will suffer from a $939 million shortfall in the next biennium, according to the latest estimates.

The value of commodities moved by truck among the United States, Canada and Mexico increased 1.3% to $59.3 billion in May, the Department of Transportation announced.

On the heels of the release of our 2016 TT Top 100 For-Hire Carrier rankings, our July LiveOnWeb program focused on regulatory issues and the potential for disruption in the industry. Watch the replay of the July 27 program.

Old Dominion Freight Line posted weaker earnings in the second quarter with profits falling 5% year-over-year after decreases in less-than-truckload tonnage, pounds per shipment and fuel surcharges.

Wabash National Corp. reported its net income rose in the second quarter and six-month periods as margins and operating efficiencies improved; however, revenues in both periods declined.

Consumer confidence the week ended July 24 held at the lowest level since mid-June with little change in Americans’ attitudes about the economy, personal finances and the buying climate, according to the weekly Bloomberg Consumer Comfort Index released July 28.

The number of Americans who filed for unemployment benefits in the week ended July 23 rose from a three-month low, consistent with the Federal Reserve’s view of a stronger job market.