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Profit for engine maker Cummins fell sharply in the final quarter of last year due to lower global demand, leading it to scale down plans for its new light-duty engines in North America, while Daimler AG saw record profits for 2015,
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Earnings season continues this week and with it are the first numbers from major trucking suppliers, such as Meritor, Eaton and Wabash National, in addition to those from trucking operations ArcBest and C.H. Robinson.
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Load-to-truck ratios on the spot truckload freight market got a bump during the week ending Jan. 30, possibly due to pent-up demand after the previous week’s storms, but that failed to materialize into better freight rates which were also down for the entire month.
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Load-to-truck ratios on the spot truckload market got a bump during the week ending Jan. 30, possibly due to pent-up demand after the previous week’s storms, but that failed to materialize into better freight rates which also came in lower for the entire month.
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UPS Inc. reported its profit skyrocketed in the fourth quarter of the year, totaling $1.33 billion compared to $453 million a year earlier as the company also beat an earnings forecast. USA Truck and Ryder also saw higher profits.
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While activity in the nation’s manufacturing improved in January from the month before, according to reports on Monday, there is disagreement as to whether this sector is expanding or shrinking.
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Overall U.S. economic activity eased back on the gas considerably in the final quarter of last year while it expanded in 2015 at the same pace as the year before.
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The value of trans-border freight movements between the U.S. and its neighbors took a steep decline, according to new U.S. Transportation Department numbers, while Canada regained its historical rank as top North America trade partner after falling behind Mexico.
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The asset-light trucking and logistics provider Landstar Thursday reported a decline in its fourth quarter profit, but it was higher than expected, and the company also improved its annual performance.
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New orders for long-lasting durable goods plunged in December while shipments also fell, according to an advance report on Thursday from the U.S. Commerce Department, following a decision by the Federal Reserve to not raise a key interest rate.
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