Covenant Transportation Group announced profits plunged 58% in the second quarter, even though the truckload carrier surpassed the low expectations of industry analysts.

Fewer shippers moved their freight from truckload to intermodal in the second quarter, but a shift could occur with the December electronic logging mandate, according to two surveys.

Truckload companies continue to struggle in the first quarter, with executives in the industry assigning blame to continued excess capacity, bad weather and a weak used-truck market.

KEY BISCAYNE, Fla. — Truckload carriers struck an optimistic tone that a turnaround in the freight industry will occur in the second half of this year.

Truckload companies posted quarterly results that outperformed the negative predictions from industry analysts, although profits were lower for some.

Recent reports that track freight rates could be showing initial signs of improvement in truckload pricing, which has been under intensified pressure this year.

Truckload fleets that reported fourth-quarter earnings last week largely trailed the year-earlier quarter amid growing weakness in freight markets.

The recent strong growth in rates is slowing as freight demand wanes and capacity loosens, industry statistics show.

Jeff Rogers has been appointed CEO at Universal Truckload Services, concluding a plan begun in June.