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Moderating new truck production and trade-ins have avoided layoffs and a greater glut of used trucks on dealers' lots, Dennis Slagle says.
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Truckload linehaul rates in June were nearly the same as the month before, but they are still below levels from a year ago, while there seems to be no end to the recent drop in rates for intermodal shipments.
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Asset-light trucking and related services provider Landstar System reported a 20% second quarter decline in earnings due to lower revenue and a big insurance claim.
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Temperature-controlled carrier Marten Transport reported an increase in its second quarter earnings. Although it's another small gain, it did beat analysts' expectations.
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Freight shipments and expenditures edged up in June after three months of lackluster performance, hitting their highest levels of the year, according to the Cass Freight Index – but it remains unclear if this is part of a larger trend.
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American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index dropped by 1.5% in June, following a nearly 3% gain in May.
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The Swedish parent to truck brands Volvo, Mack and others reported its second quarter profit slid from a year ago due to lower sales in many parts of the world and has downwardly revised its expectations in North America.
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Trucking and intermodal giant J.B. Hunt Transport Services reported its second quarter profit increased just slightly, falling short of Wall Street expectations.
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A jump in retail sales and industrial output are just two of several economic indicators released Friday showing the economy is performing at least somewhat better, but there are still some lingering concerns.
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A U.S. Transportation Department measure of the amount of freight carried by the nation's for-hire transportation industry rose 0.2% in May from April, the second consecutive monthly gain, and is just 1.5% below the all-time high level hit in December 2014.
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