Earnings News Updates

Wal-Mart Stores slashed its earnings forecasts after the worst holiday-shopping season in 40 years squeezed retail profit margins, Bloomberg reported Thursday.

Old Dominion Freight Line said Tuesday it is lowering its profit forecast due to difficult economic conditions.

Diesel engine maker Cummins Inc. lowered its 2008 sales and profit forecast, due to “significant declines” in demand.

Logistics and delivery firm Dynamex Inc. said Thursday its fiscal first-quarter profit fell to $3 million, or 30 cents a share, from $4 million, or 39 cents, a year ago.

Wright Express Corp. earned $72.3 million, or $1.82 a share, in the third quarter, up from $22.3 million, or 55 cents, the previous year.

Publicly traded less-than-truckload carriers generally posted lower earnings in the third quarter, with several fleets warning that freight volumes would get worse as the fourth quarter unfolds.

Daimler AG said Thursday its third-quarter income improved from a year ago and that its truck unit was its only division to show an improvement in earnings, though it cut its full-year earnings forecast by 1 billion euros ($1.3 billion), Bloomberg reported.

Truckload carrier Knight Transportation’s third-quarter profit rose to $16.1 million, or 19 cents a share, from $14.5 million, or 17 cents, a year ago.

Truck dealership Rush Enterprises’ third-quarter net income fell to $8 million, or 21 cents a share, down from $13.1 million, or 34 cents, a year ago.