Earnings News Updates

Echo Global Logistics reported a jump in second-quarter earnings year-over-year, primarily tied to stronger truckload volume and transactional revenue.

Weaker energy-related freight shipments led two more North American railroads to report lower second-quarter earnings, including a decline of 6% at Norfolk Southern Corp. and 3% at Canadian National Railway.

Multistate truck dealership Rush Enterprises Inc. said net income was cut nearly in half and revenue slipped in the second quarter as large fleet customers “severely” reduced demand for new trucks.

Volvo Group reported earnings and net sales fell in the second quarter and six-month periods, citing the slowdown in the North American truck market as a key factor that led to a plunge in orders.

Landstar System Inc. net income tumbled 20%, hurt by a combination of weaker trucking results and accident costs, while Marten Transport Ltd. earnings rose 2.1%, helped by dedicated and intermodal results as well as gains on equipment sales.

Higher profit from dedicated truckload business helped J.B. Hunt Transport Services Inc. to eke out a 1.5% second-quarter net income increase to $105.1 million, or 92 cents per share, but weaker than expected intermodal unit performance and other factors led the company to lower its 2016 earnings expectations.

A series of weak second-quarter earnings reports in the weeks ahead should document evidence that truck freight markets have suffered this year amid excess capacity and overstocked inventory, analysts believe.