Covenant Logistics Group reported adjusted earnings per share of $1.07 for the fourth quarter Tuesday after the market closed, a 22% year-over-year (y/y) decline. Covenant’s total revenue in the quarter declined 7.4% y/y to $273.9 million, with the carrier citing weaker freight conditions in the truckload market despite strategic planning that yielded positive results, said…
Volvo Trucks North America’s first new over-the-road VNL in seven years features a more powerful electrical system to help power eventual autonomous driving while aerodynamics and powertrain improvements boost fuel efficiency by up to 10%. The truck comes in four configurations led by flagship VNL 860 sleeper cab. Two other sleeper configurations and a day…
Efforts to build an international container terminal at the Port of New Orleans capable of handling ultralarge container vessels got a boost Monday from the federal government. The port announced it was awarded an additional $226.2 million grant to assist in constructing the $1.8 billion Louisiana International Terminal (LIT), a project that aims to position…
China Cargo Airlines has postponed until April plans to launch scheduled freighter service to Miami, which will make it the first Chinese carrier to operate between the city and mainland China. Worldwide Flight Services had announced in December that the all-cargo airline would begin three weekly flights this month, utilizing Boeing 777s, from its base…
Truck maker Paccar Inc. reported record fourth-quarter revenue and net profits, racing past analyst estimates and posting its 85th consecutive year of reporting net profit. The Bellevue, Washington-based parent of Kenworth, Peterbilt and DAF Trucks reported record consolidated revenues of $9.08 billion and record net income of $1.42 billion, or $2.70 per fully diluted share,…