C.H. Robinson’s Q1 was weak; April’s freight market was no better

First-quarter results for C.H. Robinson were a sea of down arrows, as had been expected at the giant brokerage company. Declines in key benchmarks were well into the double digits at C.H. Robinson (NASDAQ: CHRW). Gross profits were down 24.7%. Income from operations declined 53.4%. Diluted earnings per share dropped 53.2% and adjusted EPS declined…

Tanker shipping stocks sink despite talk of looming rate boom

Listed tanker owners are raking in profits and doling out hefty dividends. The tanker orderbook, despite a flurry of recent contracts, is virtually barren through 2025. Yet tanker share prices have been drifting lower since early March. They dropped again on Wednesday. Tanker stocks have a “boy who cried wolf” reputation thanks to all the…

Wabash realizes Q1 fruits of reorganization and long-term deals

Trailer maker Wabash beat earnings estimates in the first quarter, pointing to a successful reorganization of the company four years in the making and long-term customer deals that lock in future revenue. “Customer portfolio reshaping [is] a significant redesign of our organization, and reporting structure [is] a new customer-centric go-to-market approach,” CEO Brent Yeagy told…

Norfolk Southern eyes service improvements in back half of 2023

Norfolk Southern officials are hoping for service improvements in the second half of 2023 following a first half marred by a number of prominent train derailments, most notably the February derailment in East Palestine, Ohio, of rail cars carrying vinyl chloride. “We are going to learn from this accident to become a safer company,” NS…

Daimler Truck reports strong Q1 earnings estimate

Daimler Truck looks like it will follow competitors Volvo Group and Paccar Inc. in handily beating estimates for its first-quarter financial performance. The German truck maker released preliminary results Monday that exceeded the consensus of analysts who cover the market-leading manufacturer. Specifically: Daimler Truck Group had adjusted earnings before interest and taxes of 1.16 billion…