WK Kellogg to Close Omaha Plant, Downsize in Memphis
WK Kellogg Co. is closing one U.S. cereal plant and downsizing another as part of a plan to consolidate its operations in newer facilities.
FedEx Plans $5 Billion Buyback of Shares
FedEx Corp. plans to buy back $5 billion of its shares as cost-cutting efforts have helped boost the courier’s profits as fiscal third-quarter earnings beat expectations.
March 21, 2024GM’s Net Income Rose 12% in 2023 Despite Costly Strike
DETROIT — General Motors’ net income rose 12% last year despite losing more than $1 billion when many of its plants were shut down by a six-week autoworkers’ strike.
FedEx Misses Earnings Expectation for Fiscal Q2
FedEx Corp. reported it missed analyst expectations for income and revenue when the package delivery giant announced second-quarter fiscal 2024 earnings Dec. 19.
Goodyear Q3 Tire Sales Fall on Commercial Trucking Weakness
Goodyear posted a loss in the third quarter on the back of weak conditions in its truck business, a fire at a Polish factory and an ongoing reorganization, the tire maker said.
GXO Beats Soft Freight Market With Earnings Gains for Q3
GXO Logistics Inc. experienced an increase in third-quarter earnings on revenue growth despite the softer freight environment, the company reported Nov. 7.
Daimler Truck Posts Lower Earnings in Q3
Profits at Daimler Truck Holding AG in the third quarter fell on the back of lower sales due to supply constraints and the absence of a tax benefit that boosted the year-ago period’s results.
RXO Reports Negative Earnings in Soft Q3 Market
RXO reported negative net income and a 14% decline in revenue during the third quarter.
Cummins Profit Soars as Meritor Deal Boosts Revenue
Cummins Inc. posted a 64% year-over-year jump in profits in the third quarter of 2023 as the acquisition of axles and brakes specialist Meritor continued to boost the company’s bottom line.
Nikola Focuses on Hydrogen; Battery-Electric Trucks on Hold
Nikola Corp. is betting on a newly launched hydrogen big rig to regain its footing as the company said it wouldn’t deliver any electric trucks for the rest of the year after recent battery fires.