Latest news with #Freight
Yahoo
a day ago
- Business
- Yahoo
Freight shipment declines extend to 30 months, Cass says
Freight volumes fell faster in July while expenditures stepped slightly higher on a year-over-year comparison. Choppiness in demand created by an uncertain trade landscape continues to overhang the industry, according to a Thursday report from Cass Information Systems. Shipments on the multimodal index slid 1.8% from June (down 1.7% seasonally adjusted) and were down 6.9% y/y. This was the largest y/y decline in the dataset since January. Volumes have fallen sequentially in three straight months. 'Tariffs hit shipments harder in the most recent data, as paybacks began from demand pull-forwards earlier in the year, though goods prices are still relatively steady,' the report said. The index is expected to be down 8% y/y in August, assuming normal season trends. However, the report said a recent rise in imports may mute some of the expected decline. July 2025y/y2-yearm/mm/m (SA)ShipmentsExpendituresTL Linehaul Index Cass' freight expenditures index, which measures total freight spend including fuel, declined 1.5% from June (0.6% lower seasonally adjusted) but was up 0.4% y/y. (Retail diesel fuel prices were up 5% sequentially but 1% lower y/y.) The expenditures dataset was positive (y/y) for a fourth straight month in July following over two years of declines. On a two-year-stacked comparison, the declines narrowed again in the month to 5.8%. Netting the decline in shipments from the increase in expenditures shows actual freight rates were up nearly 8% y/y in July. A mix shift to truckload from less-than-truckload again drove the change to the inferred rate index, the report said. Cass' TL linehaul index, which tracks rates excluding fuel and accessorial surcharges, dipped 0.6% sequentially but was 2.4% higher y/y. The dataset has been up on a y/y comparison in every month this year. This was the largest y/y gain since September 2022. The index is 'on track for a small increase in 2025.' 'As the economy is likely to absorb the effects of tariffs over the next several months, our freight demand outlook remains cautious,' the report said. 'But the silver lining of lower [commercial] vehicle production and lost manufacturing jobs is that tighter capacity will likely drive freight back to the for-hire market next year.' Data used in the indexes comes from freight bills paid by Cass (NASDAQ: CASS), a provider of payment management solutions. Cass processes $36 billion in freight payables annually on behalf of customers. More FreightWaves articles by Todd Maiden: Landstar says $3.4M jury verdict, other charges to weigh on Q3 Forward Air posts Q2 EBITDA beat; investors waiting to see if company will be sold GXO encouraged by pre-peak season activity, well positioned for 2026 The post Freight shipment declines extend to 30 months, Cass says appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
06-08-2025
- Business
- Globe and Mail
Canadian Pacific Stock Declines 0.8% Since Q2 Earnings Release
Canadian Pacific Kansas City Limited CP reported unimpressive second-quarter 2025 results, wherein both earnings and revenues missed the Zacks Consensus Estimate. The company's shares have declined 0.8% since the second-quarter 2025 earnings release. The quarterly earnings (excluding 15 cents from non-recurring items) of 81 cents per share missed the Zacks Consensus Estimate by 1.2%. The bottom line improved 5.2% on a year-over-year basis. Operating revenues of $2.67 billion lagged the Zacks Consensus Estimate by 4.3%. However, the top line improved 1.5% on a year-over-year basis. In the reported quarter, total Freight revenues per revenue ton miles decreased 4% year over year. Total Freight revenues per carload declined 3% year over year. On a reported basis, operating income increased 6%. Total operating expenses grew 0.9% year over year. The reported operating ratio (operating expenses as a percentage of revenues) fell 110 basis points to 63.7% from 64.8% in the year-ago quarter. CP's Segmental Highlights Freight revenues, accounting for 98.1% of the top line, increased 2.7%. CP's Freight segment contains Grain (up 12%), Coal (up 8%), Potash (down 7%), Energy, chemicals and plastics (up 2%), Metals, minerals and consumer products (down 20%), Automotive (down 28%) and Intermodal (up 9%). Meanwhile, Fertilizers and Sulphur, and Forest products fell 5% and 8%, respectively. Other revenues increased 1.3% year over year in the second quarter of 2025. CP's Liquidity CP exited the second quarter with cash and cash equivalents of C$799 million compared with C$739 million at the end of the December-end quarter of 2024. Long-term debt amounted to C$21.23 billion compared with C$19.8 billion at the end of the fourth quarter of 2024. CP's Outlook Despite the ongoing tariff and trade policy uncertainty, Canadian Pacific Kansas City now expects 2025 core adjusted combined diluted earnings per share to grow in the 10-14% range from the 2024 actuals to C$4.25 per share. The company continues to expect 2025 RTMs to increase in the mid-single digits from the 2024 actuals. Management expects capital expenditures to be C$2.9 billion for the full year. The core adjusted effective tax rate for 2025 is expected to be 24.5%. Currently, CP carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Q2 Performances of Other Transportation Companies Delta Air Lines DAL reported second-quarter 2025 earnings (excluding $1.17 per share from non-recurring items) of $2.10 per share, which beat the Zacks Consensus Estimate of $2.04. However, earnings decreased 11% on a year-over-year basis due to high labor costs. Revenues in the June-end quarter were $16.65 billion, beating the Zacks Consensus Estimate of $16.2 billion and decreasing marginally on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) increased 1% year over year to $15.5 billion. J.B. Hunt Transport Services, Inc. JBHT reported second-quarter 2025 earnings of $1.31 per share, which missed the Zacks Consensus Estimate of $1.34 and declined 0.8% year over year. Total operating revenues of $2.93 billion lagged the Zacks Consensus Estimate of $2.94 billion and were flat year over year. JBHT's second-quarter revenue performance witnessed a 6% increase in Intermodal ('JBI') loads, a 13% rise in Truckload ('JBT') loads, a 3% increase in Dedicated Contract Services ('DCS') productivity and a 6% jump in Integrated Capacity Solutions ('ICS') revenue per load. These items were offset by Final Mile Services revenue declining 10%, lower revenue per load in both JBI and JBT, a 9% decrease in ICS load volume and a 3% decline in average trucks in DCS. Total operating revenues, excluding fuel surcharge revenues, increased 1% on a year-over-year basis. United Airlines Holdings, Inc. UAL reported mixed second-quarter 2025 results, wherein the company's earnings beat the Zacks Consensus Estimate, but revenues missed the same. UAL's second-quarter 2025 adjusted earnings per share of $3.87 surpassed the Zacks Consensus Estimate by a penny but declined 6.5% on a year-over-year basis. The reported figure lies within the guided range of $3.25-$4.25. Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.4 billion but increased 1.7% year over year. Passenger revenues (which accounted for 90.8% of the top line) rose 1.1% year over year to $13.8 billion. UAL flights transported 46,186 passengers in the second quarter, up 4.1% year over year. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis Report Canadian Pacific Kansas City Limited (CP): Free Stock Analysis Report
Yahoo
02-08-2025
- Business
- Yahoo
Old Dominion Freight Line notes some progress in Q2 revenue
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Dive Brief: Old Dominion Freight Line's Q2 revenue totaled $1.41 billion, a roughly 6% year-over-year decline though an increase of 2.4% compared to Q1, according to earnings reports. While sequential comparisons are not as useful due to seasonal trends throughout the year, every bit of revenue improvement helps amid a three-year downcycle, EVP and CFO Adam Satterfield said on an earnings call Wednesday. 'We continue to believe that our business model contains meaningful operating leverage, and we remain confident in our ability to improve our operating ratio over the long term,' President and CEO Kevin 'Marty' Freeman said on the call. Dive Insight: Old Dominion's operating ratio in Q2 rose to 74.6%, compared to 71.9% a year ago. When volume decreases, operating costs can rise due to the company's commitment to superior service, Freeman said. Despite the setback with the less efficient OR, the LTL giant is managing costs and protecting service in a very weak environment. The industry is contending with volumes some 15% lower than when demand surged during the COVID-19 pandemic, Satterfield said. 'We don't feel like we need to go out and try to chase bad revenue that doesn't fit in our thinking for the long term,' Satterfield said. Other LTL peers experienced a similar revenue uptick in Q2 sequentially, even as YoY comparisons showed the slower environment. Compared to Q1, for example, ArcBest's $1 billion in revenue was up 5.7%, and TFI International's LTL segment was up 3.6%. ArcBest attributed its YoY revenue decline to a soft rate environment and a higher mix of managed transportation that typically involves smaller, lower-revenue shipments. 'We remain disciplined in our pricing strategy, securing deferred increases averaging 4%, a strong outcome in a market where many shippers are focused on cost savings,' ArcBest CFO Matt Beasley said on an earnings call. Recommended Reading Old Dominion doesn't see Amazon's LTL service as a threat Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
31-07-2025
- Business
- The Hindu
Madhukar Roat new DRM of Palakkad Division of SR
Madhukar Roat took charge as the Divisional Railway Manager of Palakkad Division in Southern Railway (SR) on Thursday, July 31. Earlier he was serving as the Chief Freight Traffic Manager in North Western Railway, Jaipur. Mr. Roat is an officer of IRTS Cadre (Indian Railway Traffic Service) of 1997 batch. He has diverse experience of serving in several pivotal roles across Indian Railways, including postings in the Northeast Frontier Railway, Western Railway, and as a Chief General Manager on deputation with CONCOR, Ahmedabad. While serving in Ahmedabad Division, Shri Madhukar Roat played a major role in initiating and opening Private Freight Terminals (PFTs), significantly enhancing the division's freight handling capacity. He was also instrumental in the implementation and execution of the Indian Railways' pioneering policy on Non-Government Railway (NGR) operations at Kandla Port, a release from Palakkad Division said.
Yahoo
22-07-2025
- Business
- Yahoo
Covenant Logistics (CVLG) Reports Earnings Tomorrow: What To Expect
Freight and logistics provider Covenant Logistics (NASDAQ:CVLG) will be reporting results this Wednesday after market hours. Here's what you need to know. Covenant Logistics missed analysts' revenue expectations by 4.5% last quarter, reporting revenues of $269.4 million, down 3.4% year on year. It was a disappointing quarter for the company, with a miss of analysts' Freight revenue estimates and a significant miss of analysts' adjusted operating income estimates. Is Covenant Logistics a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Covenant Logistics's revenue to grow 1.6% year on year to $292.1 million, slowing from the 4.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.42 per share. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Covenant Logistics has missed Wall Street's revenue estimates five times over the last two years. Looking at Covenant Logistics's peers in the transportation and logistics segment, only FedEx has reported results so far. It beat analysts' revenue estimates by 1.9% and delivered flat year-on-year revenue. The stock was down 3.2% on the results. Read our full analysis of FedEx's earnings results here. There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 5.9% on average over the last month. Covenant Logistics's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $32.67 (compared to the current share price of $23.60). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
