Welcome to the WHAT THE TRUCK?!? Newsletter. In this issue, load board fraud rises, freight recession, dangerous states for truckers and kids crawling under trains. Freight recession and the MSM Twitter Deterioration — Produce season is a bust, the ports continue to slump, and a new batch of earnings reports reveals just how dire the…
As a Peterbilt dealer, Rush Enterprises helped its own business and the Paccar brand with blowout sales of truck parts in the first quarter. The nation’s largest commercial truck dealership network reported first-quarter revenues of $1.91 billion compared to $1.56 billion a year ago. Net income of $90.5 million fell slightly below $92.5 million a…
During the busiest Q1 earnings week (42% of the S&P 500 market capitalization is reporting this week according to Goldman Sachs), several companies involved in the box market, which is among the best leading/coincident economic indicators depending on how one defines leading, have reported downbeat results and cut guidance. The consistent theme has been intensifying…
Management from Schneider National lowered its outlook for 2023 when it reported first-quarter results on Thursday. The quarter came in better than expected but the truckload carrier said a more material freight recovery won’t likely occur until later in the year. Schneider (NYSE: SNDR) reported first-quarter adjusted earnings per share of 55 cents, 10 cents…
American Airlines saw first-quarter cargo revenue fall 37.8% year over year to $223 million primarily due to lower yield and lower demand, the company reported on Thursday. The company’s cargo revenue was only $5 million more than in 2019, a weak year for cargo and benchmark for a normal business environment following the pandemic. Nearly…