Truckload Profits Rise Despite Driver Issues

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any truckload carriers said profits pushed higher during the second quarter despite a lingering inability to find and retain drivers that prohibited fleet expansion in spite of high demand for freight-hauling services.

Of the 13 publicly traded carriers that posted earnings for the three months ended June 30, most reported strong gains and some said the high demand for their services allowed them to increase freight rates. Analysts and fleets said the current market trends should continue through this year, allowing carriers to trim less profitable lanes and customers.

“Freight demand and pricing continued to strengthen in the second quarter as truckload industry capacity struggled to keep up with an improving freight economy,” said Clarence Werner, chairman and chief executive officer of Werner Enterprises, in the company’s earnings statement.

For the full story, see the Aug. 9 print edition of Transport Topics. Subscribe today.