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Monthly orders data has trended below prior-year results since the start of the year. President Trump’s focus on tariffs has created uncertainty for both OEMs and truck buyers.

Victims included three pilots on board when the crash happened during takeoff at UPS Worldport, the company’s global aviation hub located at Muhammad Ali International Airport.

“What you’re seeing right now clearly is something of a relief rally when people have been pretty negative on the prospects for both FedEx and UPS,” said Ari Rosa, an analyst at Citigroup.

The Tennessee-based ground transportation and logistics services provider posted a net loss of $23.8 million, or negative 52 cents a diluted share, for the three months ending Sept. 30.

The casualties are believed to include Captain Richard Wartenberg, First Officer Lee Truitt and International Relief Officer Captain Dana Diamond, UPS said in a statement. 

Werner Enterprises saw its third-quarter bottom line swing from a year-ago profit to a loss as one-time expenses took a toll on its three-month results.

Data provided to Transport Topics shows an acceleration in carrier capacity exits, and observers see a number of macroeconomic dominoes starting to fall into place.

The carrier reported Q3 revenue totaling $1.05 billion, compared with $1.06 billion in the prior-year period. However, operating expenses jumped 7% to $993.5 million from $928.1 million.

"This comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes,” Challenger, Gray & Christmas said in the report.

The death toll from a UPS Inc. cargo plane crash rose to 12 as investigators began looking into what caused the fiery Nov. 4 accident near the company’s global hub in Kentucky.