American Tire to Eye $1 Billion Refinancing Post Bankruptcy
Bankers for American Tire Distributors Inc. are sounding out investors on a junk bond sale that would help the company refinance its debt more than two years after exiting bankruptcy, according to people with knowledge of the matter.
February 8, 2021Daimler Restructuring ‘Dream Come True,’ Martin Daum Says
The head of Daimler’s global truck operation believes the upcoming restructuring into a separate company positions it to accelerate growth in terms of both innovation and financial opportunity.
February 8, 2021CEO Hawkins Says Yellow Well-Positioned as Economy Improves
With hundreds of new tractors and trailers already purchased and more on the way, the company formerly known as YRC Worldwide is poised to be highly competitive in the LTL freight sector, according to its CEO.
February 5, 2021Universal Logistics Reports $16.2 Million Profit for Q4 2020
Universal Logistics Holdings Inc. on Feb, 4 reported its highest fourth-quarter earnings on record. The asset-light transportation and logistics company posted net income of $16.2 million, or 60 cents per diluted share,
February 5, 2021Ford to Cut Back F-150 Production Due to Chip Shortage
CHARLOTTE, N.C. — Ford Motor Co. said Feb. 4 that it will cut shifts at two of its U.S. manufacturing plants next week, due to the worldwide chip shortage that also has impacted other automakers.
February 5, 2021Cummins Posts Higher Q4 Earnings, Revenue
Cummins Inc. reported higher earnings and revenue in the fourth quarter amid gains in both its engines and components business segments in China and India.
February 4, 2021Old Dominion Posts Q4 Gains in Earnings, Revenue
Old Dominion Freight Line reported gains in fourth-quarter profit and revenue and, despite the COVID-19 pandemic, finished 2020 with a rise in net income.
February 4, 2021Class 8 Orders in January Clear 40,000
North American Class 8 orders kicked off the year by reaching 42,200 in January, up 146% from a year earlier when they were 17,204, ACT Research reported, citing truck makers’ initial data.
February 4, 2021Peterbilt Introduces Redesigned Model 579 Flagship
Peterbilt Motors Co. has unveiled a restyled version of its Model 579 flagship on-highway truck that offers a 7% fuel economy improvement compared with the truck it replaces, which was launched in 2012.
February 4, 2021Wabash National Posts Lower Q4 Earnings
Wabash National Corp. reported lower net income and revenue in the fourth quarter as new trailer shipments fell.
February 4, 2021