Most performance measures at Ryder System in the second quarter were down from a year earlier but the company made a significant upward revision in its forecast for the remainder of this year. That was the key driver in the company’s stock performance Wednesday. At approximately 1:30 p.m. EDT, Ryder (NYSE: R) was up $6.21,…
On today’s episode of WHAT THE TRUCK?!? Dooner is getting to the bottom of the evolving situation at Yellow. Ploger Transportation’s Chris Smith and FreightWaves’ Justin Martin get us up to date on what’s going on there on the ground floor. With another union proposal rejected, where does this company have left to go? Surge…
Management from Old Dominion Freight Line noted demand has ticked up in recent days but didn’t attribute the increase to troubles at Yellow Corp. Over the last few days, shipments per day have increased from 47,000 to 50,000, however, management said it’s typical to see volumes step higher at the end of July. The carrier…
A Wednesday note to investors from Stephens, a financial services company, estimates that Yellow may soon breach a key requirement on its cash reserves. Based on a July 10 liquidity disclosure, Stephens estimated that Yellow was burning $4 million in cash each week in the second quarter of 2023. In that same filing, Yellow disclosed…
Uncertainties about consumer behavior and anticipated lower grain volumes are among the headwinds that are giving CN a bearish outlook for the second half of 2023, according to executives’ comments during the Canadian railway’s earnings call to discuss second-quarter 2023 financial results. “We can only forecast based on what our customers are telling us ……