Truckload Profits Drop as Freight Supply Shrinks
Profits fell at five of the largest truckload carriers in the past quarter as the nation’s soft economy cut freight volumes, raising uncertainty about whether conditions would improve enough to boost results later in the year.
April 23, 2007Heavy-Duty Engine Manufacturers Allow Biodiesel Use Without Voiding Warranties
Class 8 Truck Sales Plunge in March
The collapse in heavy-duty U.S. truck sales accelerated in March, dropping nearly 38% from the same month in 2006.
April 23, 2007Caterpillar’s Earnings Dip; Revenue Gains
Heavy equipment and diesel engine manufacturer Caterpillar Inc. said Friday that its first-quarter net income dipped 3% to $816 million, from a record $840 million a year ago.
April 20, 2007Saia Reports Higher 1Q Profit
Saia Inc. reported Friday that its first-quarter net income rose to $3 million or 21 cents a share, from $2.4 million or 16 cents a year ago.
April 20, 2007U.S. Xpress Takes 1Q Loss
Truckload carrier U.S. Xpress Enterprises said late Thursday that it lost $2.6 million or 17 cents per share in the first quarter, compared with earning $730,000 or 5 cents a year ago.
April 20, 2007Hub Group’s Earnings Rise
Third-party logistics company and freight broker Hub Group said late Thursday its first-quarter profit rose 25% to $11.4 million or 29 cents a share, from $9.1 million or 22 cents a share a year ago.
April 20, 2007Swift’s First-Quarter Earnings Tumble
Swift Transportation Co.’s first-quarter profit fell 74% because of a pending buyout, bad weather, higher fuel costs and lower demand.
April 19, 2007Heartland’s 1Q Income Rises
Truckload carrier Heartland Express said Thursday its first-quarter profit rose 14% to $22.6 million or 23 cents a share, from $19.7 million or 20 cents a year ago.
April 19, 2007Philadelphia Factory Index Unchanged
Manufacturing levels in the Philadelphia were flat in April from last month, the Federal Reserve Bank of Philadelphia said.
April 19, 2007