News Briefs - Aug. 6
The Latest Headlines:
- EGL Reports Higher 2Q Profits
- Old Dominion Offers Guidance on 3Q
- Rail Intermodal Traffic Remains Strong
- NHTSA Seeks Comment on Report
- Old Dominion Offers Guidance on 3Q
EGL Reports Higher 2Q Profits
EGL Eagle Global Logistics, a Houston-based firm that arranges freight shipments, said Friday its net income for the second quarter was $12.7 million or 27 cents per share, compared with $6.5 million or 14 cents a year eariler.Net revenues increased 12% to $209 million, the company said, reflecting a 19% increase in air freight revenues. EGL also said North America ground shipment volumes rose 18% from a year ago.
EGL said it expects to earn in the range of 27 cents to 29 cents in the third quarter. Transport Topics
Old Dominion Offers Guidance on 3Q
Less-than-truckload carrier Old Dominion Freight Line Inc. said Friday it expected to earn 48 cents to 50 cents in the third quarter, compared with 38 cents a year eariler.Analysts surveyed by Thomson First Call expect 2004 third-quarter earnings of 50 cents a share, Dow Jones reported.
The company also said in a statement it expected to earn $1.55 to $1.59 for the full fiscal year, compared with $1.15 for 2003.
Old Dominion is ranked No. 27 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Rail Intermodal Traffic Remains Strong
The Association of American Railroads said Thursday the number of intermodal loadings on U.S. railroads totaled 847,317 trailers or containers in July, up 7.5% from the same week a year earlier.Railroading, like commercial trucking, is considered an important economic indicator. Intermodal traffic, which tends to be merchandise rather than bulk commodities, is more directly competitive with trucking and more reflective of the state of the economy.
For the week ended July 31, intermodal volume rose 11.9% to a record 221,249 trailers and containers. The previous record was set only a week ago, AAR said.
Through the first seven months of the year, intermodal volume totaled 6.2 million trailers or containers, up 9.3% from last year, AAR said. Transport Topics
NHTSA Seeks Comment on Report
The National Highway Traffic Safety Administration said last week it was seeking public comment on a report covering the agency’s high-priority upgrade of America’s traffic safety data collection systems.The report, titled “Initiatives to Address Improving Traffic Safety Data Plan,” was prepared by NHTSA staff along with state and county officials.
t proposes plans to reduce death and injuries on the country’s highways, the NHTSA statement said. Transport Topics
