Trucking stocks are doing about as miserably as broader stock market
Most companies are right near the 25% decline in the market since February 1.
Most companies are right near the 25% decline in the market since February 1.
Tonnage headwinds and better yields are the story so far in 2020. Old Dominion Freight Line reports modest revenue decline.
Many freight and logistics providers have reported weak earnings in the past few weeks. Due to the current operating environment, these totals were expected and investors have begun buying into the second half recovery story.
ArcBest posts down q4 results and January didn’t look much better
Most key metrics were lower for the LTL carrier/brokerage company.
As peak retail season approaches, the battle for retail compliance only intensifies.
ArcBest posts weak third quarter numbers for asset and non-asset units
Old Dominion, ArcBest report sluggish monthly
Safety, labor advocates register early opposition to rule changes.
ArcBest posted flat to down second quarter results as a weak LTL macro environment and too much truckload capacity hit its two main units.
A great deal of focus has been placed on the seasonal weakness in TL volumes, but LTL volume weakness is equaling concerning.
The three stocks get an upgrade not just on Cowen’s optimistic view of the market, but by how much their prices have been hit.
Weak demand on the asset light side weighs down results.
Women In Trucking Association (WIT) named Judy R. McReynolds, chairman, president and chief executive officer of ArcBest, the winner of the fifth annual Women In Trucking Association’s Distinguished Woman in Logistics Award (DWLA).
Shippers are buying far more than LTL these days, McReynolds says.
The company laid out its strategy in an SEC filing in the third quarter, and the fact that it is succeeding was evident in the numbers.
Even the Port’s director agrees something needs to be done; East Coast port notches new record; ATA crows about California victory.
ArcBest posted excellent operating results for the third quarter, but executives failed to clarify the company’s pension liabilities, which were the subject of a controversial short seller report last month.
Some of the stocks that were getting hammered at midday recovered on the back of the broader market rebound by the close. One exception: Ryder.
There’s no particular pattern in seeing which stocks have declined significantly more than the drop in the overall S&P 500 index.
FreightWaves spoke to ArcBest officers about Off Wall Street’s research report, which they said raised concerns about off-balance sheet liabilities related to pensions.
ArcBest Corporation (NASDAQ: ARCB) recently finalized a new 5-year contract with the International Brotherhood of Teamsters. The new contract brought “major gains” for members, including vacation restoration, wage increases and health benefit preservation.
The company turned a first quarter 2017 loss into a profit this year.
Tax reform lifts earnings projections for two, but Old Dominion gets praise for operations