Traton SE, the parent company of Navistar International, reported dramatically higher second-quarter sales and profits compared with a year earlier. But economic uncertainty resulted in significantly lower incoming orders. Traton’s adjusted operating profit in the April-June period reached $1.15 billion compared with $438.5 million a year ago. Q2 revenue totaled $12.92 billion compared with $10.47…
WASHINGTON — The training departments of three large truckload companies want to be exempted from federal rules for entry-level driver training because they claim it is causing them to be short of both instructors and drivers. Drivers of the three companies — Heartland Express (NASDAQ: HTLD), Contract Freighters Inc. (CFI) and Millis Transfer (acquired by…
Shipping has long suffered an image problem on Wall Street, fueled by perceptions that some shareholders have been ripped off by self-dealing management. No analyst has focused on the fair treatment of shipping’s common stockholders more than Michael Webber. He has published an annual corporate governance scorecard for shipping since 2016, until 2019 at Wells…
UPS Inc. shippers should brace themselves for double-digit general rate increases (GRI) in 2024 as the transport and logistics behemoth looks to recoup the “astronomical” cost increases from its tentative five-year contract with the Teamsters union, a transport executive said. Tom Nightingale, CEO of AFS Logistics Inc., a non-asset-based provider that negotiates, audits and pays…
With Yellow possibly in its final days if not hours, the timing of earnings calls is perfect for Wall Street analysts to ask trucking executives how their companies could benefit. On Covenant Logistics’ (NASDAQ: CVLG) second-quarter earnings call Thursday, President and COO Paul Bunn acknowledged the opportunity but said the company would not wildly chase…