Earnings News Updates

Westport Fuel Systems Inc. on Nov. 9 reported a net loss and higher revenue for the third quarter, as the recently merged company announced that it continues to review the business and operations to determine additional synergies and efficiencies.

Swift Transportation reversed course after reporting third-quarter earnings were up 4.7% year-over-year to $38 million on Oct. 24, lowering the number to $24 million, or a 34% decline lower than a year ago.

Less-than-truckload companies re- ported mixed results in the third- quarter as the carriers battle lower tonnage and shipments compared with a year ago.

YRC Worldwide Inc. and Universal Logistics Holdings Inc. reported weaker third-quarter profits in a continuation of the freight industry trend that has led to lower earnings at most companies.

Two truckload carriers suffered significant declines in profits for the third quarter as compared to one year ago as the sector struggles to turn around a tepid market.

Norfolk Southern Corp. became the only U.S. railroad to report higher third quarter earnings, improving net income 2% to $460 million, or $1.55 per share, as cost reductions of 10% outpaced a decline in revenue.

Trailer manufacturer Wabash National Corp. reported year-over-year net income rose and revenue fell in the third quarter.

The third-quarter earnings season began with truckload carriers struggling to match year-over-year results, headlined by Covenant Transportation Group’s profits plummeting 62%.

Volvo Group reported third-quarter earnings and sales fell amid excessive Class 8 inventory in North America as orders and sales both dropped by more than 30%, compared with a very strong market in 2015.