Latest news with #ToddMaiden
Yahoo
15-07-2025
- Business
- Yahoo
First Look: J.B. Hunt Q2 earnings
J.B. Hunt Transport Services' second-quarter result was largely in line with analysts' expectations. The Lowell, Arkansas-based multimodal transportation provider reported earnings per share of $1.31 for the period after the market closed on Tuesday, which was 1 cent below the year-ago result. Consolidated revenue of $2.93 billion was in line with consensus and flat year over year. Operating income dipped 4% y/y to $197 million. The company's flagship intermodal unit reported a 2% y/y increase in revenue to $1.44 billion as a 6% increase in loads was partially offset by a 3% decline in revenue per load. A mix shift to the Eastern network weighed on the yield metric given the shorter length of haul. The unit's operating ratio (inverse of operating margin) deteriorated 40 basis points y/y to 93.3%. Dedicated revenue dipped less than 1% y/y to $847 million as a 3% decline in average trucks in service was largely offset by a 3% increase in revenue per truck per week (up 5% excluding fuel surcharges). The unit's OR was 30 bps worse y/y at 88.9%. A $3.6 million operating loss in the company's brokerage segment widened slightly from the first quarter, but was nearly $10 million lower y/y. Brokered loads declined 9% y/y but revenue per load was up 6%. J.B. Hunt (NASDAQ: JBHT) will host a call at 5 p.m. EDT on Tuesday to discuss second-quarter results. More FreightWaves articles by Todd Maiden: LTL pricing index to hit record high in Q3 June produces mixed freight trends, recovery remains 'elusive' Carrier Logistics automates LTL shipment data entry The post First Look: J.B. Hunt Q2 earnings 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
Yahoo
15-07-2025
- Business
- Yahoo
Yellow Corp. to sell 4 terminals for $6.9M
Defunct Yellow Corp. has entered a request with a federal bankruptcy court in Delaware to sell four terminals for $6.85 million, according to a Monday filing. The purchase agreements for the owned properties include a 38-door terminal near Long Island, New York valued at $4 million, a 39-door service center near Omaha, Nebraska ($2 million), a 20-door facility near Atlantic City, New Jersey ($600,000), and a 15-door location in Alexandria, Louisiana ($250,000). The buyers appear to include various real estate and other investor groups. Proceeds from the sales will settle claims against the estate, including employee claims for PTO, sick time and amounts sought under the Worker Adjustment and Retraining Notification Act. The bankrupt less-than-truckload carrier has liquidated more than 210 terminals for nearly $2.4 billion since filing for bankruptcy in 2023. More FreightWaves articles by Todd Maiden: LTL pricing index to hit record high in Q3 June produces mixed freight trends, recovery remains 'elusive' Carrier Logistics automates LTL shipment data entry The post Yellow Corp. to sell 4 terminals for $6.9M 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
Yahoo
15-07-2025
- Business
- Yahoo
LTL pricing index to hit record high in Q3
A sagging industrial economy and global trade uncertainty continue to constrain less-than-truckload demand, but carriers are still pushing through rate increases. The LTL rate-per-pound component of the TD Cowen/AFS Freight Index is expected to reach a record high during the third quarter, a quarterly report showed on Tuesday. Third-party logistics company AFS Logistics and financial services firm TD Cowen are forecasting their LTL rate index to climb to a level that is 65.9% higher than a January 2018 baseline. That would be 170 basis points above the second quarter reading and 130 bps above the prior peak set during the freight boom that concluded in 2022. If the forecast holds, the index would be up on a year-over-year comparison for a seventh straight quarter. 'The continued resilience of the rate-per-pound index shows the effect of carrier pricing discipline, and the upcoming NMFC [National Motor Freight Classification] transition to a density framework should equip carriers with another method to tightly manage freight classification and pricing,' said Aaron LaGanke, vice president of freight services at AFS, in the report. (Changes to the National Motor Freight Traffic Association's classification system will take effect on Saturday.) Cost per LTL shipment fell 2.9% y/y in the second quarter but weight per shipment was off 5.1% y/y, 'indicating that carriers are holding firm on pricing and emphasizing revenue management strategies,' the report said. Sequentially, cost per shipment was down 1.6% but weight per shipment (down 1.8% from the first quarter) and fuel surcharges (down 1.3%) were headwinds, which were offset by a 3.6% increase in length of haul. The report is in line with second-quarter updates in early June that showed LTL carriers continued to realize y/y yield increases in April and May. Truckload data from the index, however, continued to show depressed trends. The TL rate-per-mile component of the TD Cowen/AFS index is expected to decline 40 bps sequentially in the third quarter to just 5.6% above the 2018 baseline. That would mark 10 straight quarters of trough-like conditions for the pricing dataset after peaking at 25.7% in the first quarter of 2022. Truckload linehaul cost per shipment was up 1.7% sequentially in the second quarter, but the increase was driven by a 1.8% uptick in miles per shipment. 'Ongoing trade and tariff uncertainty is hampering the truckload market's recovery from the freight recession that started three years ago,' the report concluded. The LTL earnings season kicks off on July 25 when Saia (NASDAQ: SAIA) reports second-quarter results before the market opens. AFS Logistics is a non-asset-based 3PL providing audit and cost management services, managed transportation, and freight brokerage. It has visibility into more than $39 billion in annual freight spend. More FreightWaves articles by Todd Maiden: June produces mixed freight trends, recovery remains 'elusive' Carrier Logistics automates LTL shipment data entry ArcBest touts results from EV semi pilot The post LTL pricing index to hit record high in Q3 appeared first on FreightWaves.
Yahoo
08-07-2025
- Business
- Yahoo
Yellow Corp. selling 4 terminals for $4M
Various real estate investors have entered agreements to acquire four terminals valued at $3.95 million from Yellow Corp.'s estate, according to a filing with a federal bankruptcy court in Delaware. The defunct less-than-truckload carrier has liquidated more than 200 terminals fetching roughly $2.4 billion since filing for bankruptcy in 2023. The owned properties include a 50-door terminal in Birmingham, Alabama, valued at $1.55 million, a 30-door terminal near Pittsburgh ($1.53 million), a 29-door facility in Columbia, South Carolina ($650,000) and a 12-door terminal in Fairfield, Maine ($225,000). It appears no LTL carrier is involved in the latest asset sales. Proceeds from the property sales will be used to settle claims filed against the estate, including employee claims for PTO, sick time and amounts sought under the Worker Adjustment and Retraining Notification Act. In March, the Teamsters union appealed a prior court ruling freeing Yellow from WARN liability. A recent filing with the court showed the estate held $621 million in cash at the end of May. Yellow has paid more than $165 million in legal and advisory fees since the liquidation began. More FreightWaves articles by Todd Maiden: Cold storage provider Lineage announces expansion in Canada Cass Freight Index: Shipments down, rates up in May Forward Air chairman, 2 directors leave after shareholder vote The post Yellow Corp. selling 4 terminals for $4M appeared first on FreightWaves. Sign in to access your portfolio
Yahoo
13-06-2025
- Business
- Yahoo
Cass Freight Index: Shipments down, rates up in May
According to monthly data from Cass Information Systems, freight shipments declined again in May and underperformed normal seasonal trends. However, carriers successfully advanced pricing initiatives as trade tensions appear to be easing. Cass' multimodal shipments index dipped 0.4% from April to May (down 3.4% seasonally adjusted) and was 4% lower than the same month last year. The dataset has been underwater on a year-over-year comparison for 28 straight months. 'The trade war is having a variety of effects, with pre-tariff consumer spending still supporting freight demand,' the report said. 'The negative consequences of tariff effects are partly reflected in May data, as pre-tariff inventory stocking has started to turn to destocking, and those stocks will start to thin in the coming months.' May 2025y/y2-yearm/mm/m (SA)ShipmentsExpendituresTL Linehaul IndexThis update aligns with commentary from intermodal carrier management teams appearing at an investor conference this week. They noted that, while the freight market hasn't fully returned to normal seasonality, the fallout from tariff-related order volatility has been exaggerated and that the worst-case trade scenarios contemplated earlier in the year now appear unlikely. June shipments are projected to be down 2% y/y if normal seasonal trends hold through the rest of the month, the report said. Cass' freight expenditures dataset, which measures total freight spend including fuel, increased 1.4% sequentially (1.2% higher seasonally adjusted) and 0.8% y/y. (Diesel prices were down 8% y/y and 2% sequentially in May.) This was the second consecutive y/y increase in the expenditures dataset after 26 months of the change in shipments from the change in expenditures shows actual freight rates were approximately 5% higher sequentially (seasonally adjusted) and y/y. The freight mix captured by the index is currently moving toward truckload from less-than-truckload. The inferred rate dataset was down 7% y/y last year. Cass' TL linehaul index, which tracks rates excluding fuel and accessorial surcharges, increased 0.6% y/y (down 0.8% sequentially). This was the fifth consecutive y/y increase in TL linehaul rates. 'The effects of tariffs have yet to be fully felt, and although freight rates have started to rise, it is still not enough to offset cost headwinds broadly,' the report said. 'The trade war is likely to extend the for-hire freight recession further as higher prices reduce goods affordability and consumers' real incomes. With the demand outlook choppy, the rate upturn remains elusive, but the equipment cycle is setting up tighter capacity with Class 8 tractor sales falling below replacement this 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: Forward Air chairman, 2 directors leave after shareholder vote Intermodal carriers getting 'a bit more optimistic' Dynamic pricing, easy comps end 22-month tonnage downturn at ArcBestThe post Cass Freight Index: Shipments down, rates up in May 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
