Analysts are cutting earnings estimates for truckload companies heading into first-quarter reports. Acknowledging decent demand, analysts cited an overhang of truck capacity, which is constraining pricing and margins, as the reason for the latest round of revisions. “We exit 1Q much like we entered it for truckload-related transports — feeling okay about volumes but bad…
Ahead of the April 8 total solar eclipse, which will stretch from Texas to Maine, some state transportation departments are advising truckers to consider staying off the roads as traffic is expected to be severely impacted by people traveling to see the astronomical event. Millions of people descended on states with views of the 2017…
On Episode 697 of WHAT THE TRUCK?!?, Dooner is talking to Coyote Container’s William Hall about the company’s Nikola Fuel Cell EV truck. Now that Coyote Container has had the truck in service, how is it performing under real loads and on really challenging roads like Donner Pass? FreightWaves’ Grace Sharkey just got back from…
A California-based drayage company, which shuttered operations in November after its operating authority was involuntarily revoked, recently filed for bankruptcy liquidation. Central California Cartage Co. Inc., headquartered in Goshen, filed its petition in the U.S. Bankruptcy Court for the Eastern District of California on Tuesday. At the time of its closing, the company had 25…
FedEx has parked 17 more freighter aircraft since November and relinquished options to buy seven Boeing 767 cargo jets, part of a multiyear cost initiative that helped the parcel titan to better-than-expected operating profit in the third quarter despite lower revenue. Besides being cautious with aircraft utilization and investments, the Express unit expects to increase…