2017 Essential Financial and Operating Information for the 100 largest Private Carriers in North America
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Takeaway: Embracing Innovation

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Map: Where They Are

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The History of Anheuser Busch

Check out this timeline on the history of Anheuser Busch.
Rankings
Rank This Yearsort descending Rank Last Year Company Tractors Trucks Pickups/ Cargo Vans Trailers Annual Sales
1 1 PepsiCo Inc. 11,225 3,605 17,100 18,468 $62.8 billion
2 2 Sysco Corp. 8,534 1,042 606 10,947 $50.4 billion
3 3 Wal-Mart Stores 6,398 199 - 63,723 $485.9 billion
4 4 Coca-Cola Co. 5,487 1,354 - 7,137 $41.8 billion
5 6 U.S. Foods 5,270 387 - 6,562 $22.9 billion
6 8 Reyes Holdings 4,329 792 734 5,309 $24.0 billion
7 5 Halliburton Co. 4,243 881 - 8,152 $15.9 billion
8 9 Agrium Inc. 4,239 2,271 7,638 6,721 $13.7 billion
9 10 McLane Co. 3,816 322 12 5,611 -
10 11 C & J Energy Services 3,196 766 - 3,767 $1.0 billion
11 7 Schlumberger Limited 3,137 1,314 - 4,720 $27.8 billion
12 12 Performance Food Group 2,801 143 - 3,618 $16.0 billion
13 16 Tyson Foods 2,380 56 1,274 6,499 $37.0 billion
14 13 Dr Pepper Snapple Group 2,331 86 538 2,749 $6.4 billion
15 14 Baker Hughes Inc. 2,282 1,791 - 2,847 $9.8 billion
16 15 Dean Foods Co. 2,073 2,645 749 5,454 $7.7 billion
17 19 American Air Liquide Holdings 1,822 4,064 - 2,948 $22.0 billion
18 24 CHS Inc. 1,781 1,928 - 2,416 $30.3 billion
19 18 Gordon Food Service 1,714 36 - 2,375 -
20 20 Basic Energy Services 1,620 386 - 1,819 $0.5 billion
21 17 Femsa Logistica 1,500 1,100 - 2,100 $0.8 billion
22 21 Kroger Co. 1,489 35 - 5,490 $115.0 billion
23 22 Albertsons 1,453 850 75 6,203 -
24 23 United Rentals Inc 1,420 2,204 - 1,484 $5.8 billion
25 25 Clean Harbors Inc. 1,394 4,202 - 3,533 $2.8 billion
26 27 DOT Foods 1,325 4 18 2,065 -
27 26 Gibson Energy Inc. 1,300 - - 2,800 $4.6 billion
28 28 Calfrac Well Services 1,270 568 - 2,097 $0.7 billion
29 30 Weatherford International 1,136 605 - 3,520 -
30 39 Sunbelt Rentals 1,105 2,022 - 1,332 $3.6 billion
31 55 Quikrete Companies 1,103 58 - 1,475 -
32 31 Praxair Inc. 1,097 1,687 - 3,534 $10.5 billion
33 33 Pilot Flying J Inc. 1,084 28 - 1,388 -
34 34 Darling Ingredients 1,066 769 274 4,121 $3.4 billion
35 40 CEMEX USA 1,031 3,970 - 1,761 $3.7 billion
36 29 Helena Chemical Co. 1,004 2,507 - 2,575 -
37 38 Ben E. Keith Co. 963 46 - 1,195 -
38 42 Veritiv Corp. 933 71 209 1,447 $8.3 billion
39 35 Builders FirstSource Inc. 928 2,303 - 1,618 $6.4 billion
40 37 Key Energy Services 917 291 - 914 $0.4 billion
41 48 Core-Mark Holding Co. 866 119 - 1,301 $14.5 billion
42 35 Plains All American Pipeline 820 - - 1,875 $20.0 billion
43 47 United Natural Foods 812 7 - 1,044 $8.5 billion
44 42 Coca-Cola Bottling United 806 424 - 962 -
45 46 Walgreen Co. 791 35 - 2,039 $117.3 billion
46 45 Food Services of America 772 55 - 741 -
47 32 Prairie Farms Dairy 769 1,231 - 2,241 -
48 53 Ashley Furniture Industries 722 7 - 3,526 -
49 49 Univar Inc. 721 83 62 1,579 $8.1 billion
50 88 Anheuser-Busch LLC 714 166 - 799 $13.8 billion
51 52 Kellogg Co. 710 60 - 1,153 $13.0 billion
52 44 Southern Glazer's Wine & Spirits 699 2,044 - 1,105 -
53 66 Love's Travel Stops 684 - 20 732 -
54 57 ABC Supply Co. 676 2,636 252 939 -
55 59 Advanced Drainage Systems 675 0 - 1,200 $1.3 billion
56 83 Swire Coca-Cola USA 664 241 - 800 -
57 41 Ahold Delhaize Group 663 663 - 1,990 $30.9 billion
58 78 Shamrock Foods Co. 661 66 95 1,020 -
59 89 Supervalu Inc. 648 5 - 2,768 $12.5 billion
60 69 Sherwin-Williams Co. 644 1 - 1,623 $15.8 billion
61 54 Shaw Industries Group 643 - - 3,211 -
62 72 Publix Super Markets 642 16 400 3,153 $34.0 billion
63 61 Cudd Energy Services 638 228 - 876 -
64 62 Brenntag North America 636 87 - 1,565 -
65 70 JBS USA Holdings 627 0 - 1,393 $33.9 billion
66 58 Energy Transfer Partners 626 120 - 737 $21.8 billion
67 63 Nuverra Environmental Solutions 623 129 - 656 $0.2 billion
68 68 Golden State Foods 616 38 - 826 $6.0 billion
69 63 Maxim Crane Works 608 - - 985 -
70 60 Lowe's Companies Inc. 607 3,981 - 625 $65.0 billion
71 65 Archer Daniels Midland 602 87 - 1,702 $62.3 billion
72 67 Oldcastle Inc. 601 1,758 - 1,481 -
73 56 Mondelez International 582 288 - 746 $25.9 billion
74 49 Nestle USA 581 3,353 - 1,435 $26.7 billion
75 75 SE Independent Delivery Services 575 219 - 1,600 -
76 79 H.E.B. Grocery Co. 569 5 - 2,843 -
77 77 C & S Wholesale Grocers 567 0 - 1,613 $30.0 billion
78 74 Air Products Inc. 565 94 335 2,000 $7.5 billion
79 73 MDU Resources Group 559 1,731 - 1,713 $4.1 billion
80 80 Bunzl Distribution USA 546 71 43 975 $8.5 billion
80 82 Stericycle Inc. 546 3,699 - 2,090 $3.6 billion
82 81 Foster Farms 545 94 - 1,346 -
83 - Beacon Roofing Supply 538 1,389 - 993 $4.1 billion
84 - Globe Energy Services 529 43 - 529 -
85 51 Linde North America 507 1,425 - 1,988 -
86 - FCA Transport 495 7 - 1,460 -
87 91 Mohawk Industries 488 159 - 2,217 $9.0 billion
88 100 Valley Proteins Inc. 482 125 51 1,101 -
89 84 KeHE Distributors 479 8 - 769 -
90 85 Ace Hardware Corp. 469 1 1 1,455 $4.9 billion
91 87 Pepsi Bottling Ventures 461 144 196 560 -
92 86 Sanderson Farms Inc. 456 6 - 671 $2.8 billion
93 90 The H.T. Hackney Co. 438 170 - 578 -
94 - Bragg Cos. 433 - - 682 -
95 - Dunkin' Brands Group 430 12 - 450 $0.8 billion
96 93 Maines Paper & Food Service 423 66 - 553 $3.5 billion
97 92 BlueLinx Holdings 418 9 - 591 $1.9 billion
98 95 Select Energy Services 407 193 - 1,050 -
99 - Columbia Distributing 402 144 - 515 -
100 97 Herc Rentals 397 748 - 431 $1.6 billion

Top Food Service Carriers

Rank Company Tractors
1 Sysco Corp. 8,534
2 U.S. Foods 5,270
3 McLane Foodservice 2,160
4 Performance Foodservice 2,047
5 Gordon Food Service 1,714
6 Reinhart Foodservice 1,328
7 DOT Transportation 1,325
8 Ben E. Keith Co. 963
9 The Martin-Brower Co. 781
10 Food Services of America 772
11 Shamrock Foods Co. 661
12 Golden State Foods 616
13 KeHE Distributors 479
14 Maines Paper & Food Service 423
15 PFG Customized 418
16 G & J Transportation Services 339
17 Vistar Transportation 336
18 Blue Line Foodservice Distribution 289
19 Buffalo Rock Co. 284
20 Domino's 273
21 Labatt Food Service 251
22 Perdue Transportation Inc. 210
23 Lipari Foods 200
24 Panera 189
25 Trans Papa Logistics 163
26 QuikTrip Distribution 113
27 Schwan Food Co. 82
28 Blue Bell Creameries 81
29 DPI Specialty Foods 74
30 Utz Quality Foods 51

Top Grocery Carriers

Rank Company Tractors
1 McLane Grocery 1,656
2 Kroger Co. 1,489
3 Albertsons 1,453
4 United Natural Foods 812
5 Ahold Delhaize 663
6 Publix Super Markets 642
7 H.E.B. Grocery Co. 569
8 C & S Wholesale Grocers 567
9 Supervalu Inc. 409
10 SpartanNash 343
11 Bozzuto's Inc. 243
12 Unified Grocers 239
13 Hy-Vee Inc. 223
14 Meijer Inc. 220
15 Wegmans Food Markets 180
16 Save Mart Supermarkets 115
17 Willow Run Foods 114
18 Save-A-Lot Food Stores 108
19 Schnuck Markets 81
20 Golub Corp./Price Chopper 69
21 Smart & Final 68
22 U R M Stores 60
23 Tops Friendly Markets 55
23 The Grocery Supply Co. 55
25 Brookshire Brothers 44
26 Class Produce Group 30
27 Whole Foods Market 23
28 Eastland Food Corp. 13

Top Beverage Carriers

Ranksort descending Company Tractors
1 Pepsi Beverages 8,578
2 Coca-Cola Refreshments 5,487
3 Dr Pepper Snapple Group 2,331
4 Femsa Logistica 1,500
5 Reyes Beverage Group 1,120
6 Coca-Cola Bottling Company United 806
7 Great Lakes Coca-Cola Distribution 795
8 Anheuser-Busch Cos. 714
9 Southern Glazer's Wine & Spirits 699
10 Swire Coca-Cola USA 664
11 Pepsi Bottling Ventures 461
12 Columbia Distributing 402
13 Silver Eagle Distributors 363
14 Coca-Cola Beverages Florida 292
15 Coca-Cola Bottling Co. Consolidated 249
16 Coca-Cola Bottling Co. of Northern New England 213
17 Gulf Distributing 189
18 Coca-Cola Bottling Co. High Country 148
19 Nestle Waters North America 140
20 Clark Beverage Group 129
21 Odom Corp. 98
22 Clare Rose Inc. 97
23 Atlantic Coca-Cola Bottling Co. 93
24 Upstate Niagara Cooperative 91
25 North Florida Sales 88
26 Virginia Eagle Distributing 80
27 Pepsi MidAmerica 77
28 Sacramento Coca-Cola Bottling Co. 75
29 Republic National Distributing Co. 74
30 Pepsi-Cola Bottling Co. of Hickory 71
31 Pepsi Cola Newburgh Bottling Co. 60
32 Pepsi-Cola Bottling Co. of New York 52
33 Brown Bottling Group 47
33 Carolina Beverage Corp. 47
35 Long Beverage 45
36 Anheuser-Busch Distribution of New York 33
36 Pepsi Cola Bottling Co. of Corbin, Ky. 33
38 Quality Beverage 32
38 Pepsi Cola Bottling Co. of New Haven 32
40 Pepsi Cola Bottling Co. (Virginia) 30
41 Anheuser-Busch Sales of Washington 29
42 Birrell Brothers Co. 28
43 Lane Sales 25
44 Anheuser-Busch Sales of Hawaii 24
44 Shore Point Distributing 24
44 Pepsi Cola Bottling Co. (Logansport 24
47 House of Schwan 23
47 Western Wyoming Beverages 23
49 Allen Beverages 22
50 Pepsi Cola Bottling Co. of Mansfield 21
51 Chesterman Co. 20
52 Corwin Beverage Co. 18
52 Pepsi Cola Bottling Co. of Lincoln 18
52 Pepsi Cola Bottling Co. of Rochester 18

Top Petroleum/Chemical Carriers

Rank Company Tractors
1 Halliburton Energy Services 4,243
2 C & J Energy Services 3,196
3 Schlumberger Limited 3,137
4 Baker Hughes Inc. 2,282
5 Basic Energy Service 1,620
6 Gibson Energy 1,300
7 Calfrac Well Services 1,270
8 Weatherford International 1,136
9 Pilot Flying J Inc. 1,084
10 Helena Chemicals 1,004
11 Key Energy Services 917
12 Plains All American Pipeline 820
13 Univar Inc. 721
14 Gemini Motor Transport 684
15 Cudd Energy Services 638
16 Brenntag North America 636
17 Energy Transfer Partners 626
18 Nuverra Environmental Solutions 623
19 MDU Resources Group 559
20 Globe Energy Services 529
21 Select Energy Services 407
22 Sentinel Transportation 352
23 Patterson UTI 341
24 Eastex Crude 337
25 Nexeo Solutions 335
26 NGL Energy Partners 254
27 Stallion Oilfied Services 238
28 Carpenter Co. 225
29 Convenience Transportation 177
30 Pilot Thomas Logistics 175
31 Nine Energy Services 172
32 Marathon Petroleum 160
33 Growmark 113
34 RelaDyne 106
35 HydroChem 88
36 Targa Resouces Partners 86
37 Mapco Express 42
38 Delek U.S. 26

Top Industrial Gases Carriers

Rank Company Tractors
1 American Air Liquide 1,822
2 Praxair Inc. 1,097
3 Air Products Inc. 565
4 Linde North America 507
5 AmeriGas Partners 360
6 Matheson Tri-Gas 324
7 Ferrellgas Partners 321

Top Agriculture & Food Processing Carriers

Rank Company Tractors
1 Agrium Inc. 4,239
2 Tyson Foods 2,380
3 Dean Foods 2,073
4 CHS Inc. 1,781
5 Frito-Lay North America 1,431
6 Darling Ingredients 1,066
7 Prairie Farms Dairy 769
8 Kellogg Snacks/Godfrey Transport 710
9 JBS Carriers 627
10 ADM Logistics 602
11 Mondelez International 582
12 Nestle Transportation Co. 581
13 Foster Farms 545
14 Valley Proteins 482
15 Sanderson Farms 456
16 Bimbo Bakeries 386
17 J.R. Simplot Co. 377
18 RWI Transportation 373
19 Wilbur-Ellis Co. 364
20 Gilster-Mary Lee Corp. 347
21 McKee Foods Corp. 346
22 Pinnacle Agriculture Distribution 331
23 Borden Dairy 305
24 Boise Cascade 241
25 International Paper Co. 219
26 Cargill Meat Solutions 215
27 Wayne Farms 203
28 Goya Foods 178
29 American Proteins Inc. 157
30 Dairy Farmers of America 138
31 Franz Family Bakery 123
32 BCT Inc. 120
33 Upstate Niagara Cooperative 91
34 Co-Alliance 80
35 MFPS Transport 72
36 Umpqua Dairy Products Co. 68
37 Perdue Farms Inc. 65
38 National Food Corp. 64
39 Land O'Lakes Inc. 50
40 Brakebush Transportation 38
41 Golden Flake Snack Foods 35
42 Giorgio Foods 31
43 Mid-South Baking 25
44 Mennel Milling 24
45 ConAgra Foods 23
45 Hillyard Inc. 23

Top Wholesale/Retail Carriers

Rank Company Tractors
1 Wal-Mart Transportation 6,398
2 Core-Mark Holding Co. 866
3 Walgreen Oshkosh Inc. 791
4 Contract Transportation Systems 644
5 Lowe's Home Centers 607
6 SE Independent Delivery Services 575
7 Bunzl Distribution USA 546
8 Ace Hardware Corp. 469
9 The H.T. Hackney Co. 438
10 Dunkin' Brands Group 430
11 Autozone 363
12 O'Reilly Auto Enterprises 340
13 CVS Caremark 318
14 Costco Wholesale Corp. 315
15 Orgill Inc. 312
16 Army & Air Force Exchange Service 297
17 Hobby Lobby Stores 294
18 Owens & Minor Distribution 280
19 Fastenal Co. 270
20 Reddy Ice 236
21 Ferguson Enterprises 227
22 General Parts Distribution (Carquest) 163
23 Genuine Parts Co. 162
24 American Furniture Warehouse 130
25 J.J. Haines & Co. 96
26 Southern States Cooperative Inc. 83
27 Wawa Inc. 75
28 Rite Aid Corp. 67
29 Orscheln Farm and Home 57
30 Fisher Auto Parts 26
31 Dollar Tree 19
32 Target Transportation 18
33 Amazon Logistics 15
34 FleetPride Inc. 12

Top Manufacturing Carriers

Rank Company Tractors
1 Ashley Distribution Services 722
2 Allied Drainage Transport 675
3 Shaw Transport 643
4 FCA Transport 495
5 Mohawk Carpet Transportation of Georgia 488
6 Leggett & Platt Inc. 370
7 ThyssenKrupp USA 349
8 IFCO Systems/Chep USA 338
9 Bridgestone Americas Tire Operations 332
10 Whiteline Express 312
11 Tempur Sealy International 282
12 La-Z-Boy Logistics/England Furniture/Kincaid Furniture 263
13 Bassett Furniture Industries/Zenith Freight Lines 246
14 Ford Motor Co. 213
15 Ryerson Cos. 202
16 Andersen Corp. 168
17 Batesville Logistics 167
18 Huttig Building Products 165
19 Boeing Co. 136
20 Howard Transportation 135
21 Reliance Steel & Aluminum 126
22 Austin Powder Co. 111
23 Product Distribution Co. 105
24 Foamex LP 93
25 Toyota Transport/ Toyota Logistics Services 91
26 Associated Materials 70
27 Unifi Manufacturing 64
28 Greif Packaging 52
29 Deere & Co. 47
30 Provia Door Inc. 28

Top Equipment Rental Carriers

Rank Company Tractors
1 United Rentals 1,420
2 Sunbelt Rentals 1,102
3 Maxim Crane Works 608
4 Bragg Cos. 433
5 Herc Rentals 397
6 Mobile Mini Inc. 389
7 Sunstate Equipment 267
8 TNT Crane & Rigging Inc. 250
9 Rain for Rent 214
10 H&E Equipment Services 197
11 Neff Rental 191
12 Barnhart Transportation 142
13 AmQuip Crane Rental 123
14 W.O. Grubb Steel Erection Inc. 98
15 Titan Machinery Inc. 95
16 Mammoet 75
17 Empire Southwest 57
18 C.P. Buckner Steel Erection Inc. 13

Top Building Materials Carriers

Rank Company Tractors
1 Quikrete Cos. 1,103
2 CEMEX USA 1,031
3 Builders FirstSource 928
4 ABC Supply Co. 676
5 Oldcastle Inc. 601
6 Beacon Roofing Supply 538
7 Staker & Parson Co. 392
8 BMC Stock Holdings 331
9 HD Supply 282
10 OmniSource Corp. 216
11 Weyerhaeuser Distribution 195
12 SRS Distribution 151
13 Croell Redi-Mix 100
14 Guardian Building Products 87
15 Pacific Coast Supply 65
16 Parksite Inc. 58
17 Dolese Bros. 54
18 GCC USA Operations 33
19 Lefarge North America 26
20 Aggregate Industries 23

Top Waste Management Carriers

Rank Company Tractors
1 Clean Harbors Environmental Services 1,394
2 Stericycle Inc. 546
3 Ecolab Inc./Nalco 371
4 Hulcher Services 344
5 Veolia North America 214
6 Heritage Environmental Services 182
7 LKQ Corp. 101
8 Rumpke Waste & Recycling 62
9 Heritage-Crystal Clean 45
10 U.S. Ecology 13

Top Paper/Office Products Carriers

Rank Company Tractors
1 Veritiv Corp. 933
2 BlueLinx Holdings 418
3 Essendant Co. 120
4 Lindenmyer Munroe 105
5 Imperial Bag & Paper Co. 55

Top Construction Carriers

Ranksort descending Company Tractors
1 Michels Corp. 290
2 Strata Corp. 159
3 Henkels & McCoy Inc. 157
4 Vulcan Materials 129
5 Lane Construction Corp. 106
6 Ames Construction 104
7 Terracon Consultants 93
8 New Enterprise Stone 81
9 Morton Buildings 76
10 Brand Energy & Infrastructure 69
11 McGee Brothers Co. 35
11 Pike Electric Corp. 35
13 Turner Industries Group 30
14 Kokosing Construction 26
15 West Coast Sand & Gravel 15

Top Health Care Carriers

Ranksort descending Company Tractors
1 Med Trans 356
2 Alliance Healthcare Services 130
3 McKesson Corp. 44

Top Uniform Rental Carriers

Ranksort descending Company Tractors
1 Aramark 152
2 Cintas Corp. 134
3 Alsco Inc. 65
4 AmeriPride Services 37
5 Prudential Overall Supply 25

Top Media & Entertainment Carriers

Ranksort descending Company Tractors
1 Sony Picture Studios 205
2 NBC Universal 185
3 Sony Electronics 22
4 Shomotion 15
5 Screenworks NEP 14
About the Rankings...
Extras

About Us: Transport Topics' Top 100 Private Carriers

Learn more about Transport Topics' Top 100 Private Carriers
106

On the Bubble

Ahold Delhaize (371 tractors), is a food retailer with 6,500 stores worldwide and 370,000 people, serving 50 million customers a week.

Top 100 Private Carriers Press Release and Logo

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Top 100 News
Business, Top 100

North Carolina Cultivates Talent for Careers in Trucking Operations

For young people and others seeking ways to prepare for a new and rewarding career without racking up serious college debt, the North Carolina Trucking Association has joined forces with 13 state community colleges to ­offer some options.

Gregory Van Tighem | Special to Transport Topics
 June 24, 2019
Business, Top 100

A Trucking Industry Veteran's Family Comments on Bygone Age at New England Motor Freight

George Casiano

Ashley Casiano writes about the larger issues surrounding her father's job loss when New England Motor Freight ceased operation.

Ashley Casiano
 June 24, 2019
Business, Safety, Top 100

A New Generation of Leaders: Lead ATA Participants Set Out to Guide Trucking’s Future

Lead ATA

The freight transportation industry, much like many other core segments of the economy, has experienced its share of growing pains in the Information Age. But trucking companies are tackling those challenges with fresh ideas, increasingly spearheaded by a new crop of leaders.

Joe Antoshak | Staff Writer
 June 24, 2019
Business, Logistics, Top 100

Four Generations and Counting at C.R. England, Pride Transport

Dan England with sons

No trucking company has a longer history of keeping the business in the family than C.R. England Inc.

Daniel P. Bearth | Senior Staff Writer
 June 24, 2019
Business, Logistics, Top 100

LTL Carriers See Slower Growth, but Economic Outlook Remains Positive

Old Dominion Freight Line double trailer

Less-than-truckload carriers are settling into a more modest growth scenario as 2019 unfolds, with widely shared expectations that a still-solid U.S. economy and favorable industry fundamentals will keep fleets on a positive course.

Rip Watson | Special to Transport Topics
 June 24, 2019
Business, Top 100

How to Name a Trucking Company

Trucking Company

Names can sometimes have an impact that goes beyond the original business.

Daniel P. Bearth | Senior Staff Writer
 June 24, 2019
Business, Top 100

How J. Rayl Transport Kept Trucking After the Loss of CEO Jeremy Rayl

J. Rayl truck

When J. Rayl Transport’s CEO, Jeremy Rayl, died suddenly in 2017 at the age of 39, the Akron, Ohio-based trucking company lost “more than just a boss,” in the words of chief operating officer and close friend Ryan Richards.

Brooke Bilyj | Special to Transport Topics
 June 24, 2019
Business, Top 100

Walker Joins United Road Services as COO

United Road Services carhauler

United Road Services announced the appointment of Jason Walker as chief operating officer, filling a job left open when Mark Anderson was promoted to president and CEO in January.

June 21, 2019
Top 100

About Us: Transport Topics' Top 100 For-Hire Carriers

Top 100 For-Hire logo

The Transport Topics’ Top 100 For-Hire Carriers is a listing of the largest trucking companies in North America.

Transport Topics
 June 21, 2019
Business, Logistics, Top 100

FedEx May See Lackluster Results Lingering Into Next Year

FedEx Truck

FedEx Corp.’s pains are far from over. Expectations from its upcoming fiscal fourth-quarter results already have hit rock bottom, and now analysts say its entanglement in the prolonged U.S.-China trade war may dampen the outlook for the next year as well.

Esha Dey | Bloomberg News
 June 20, 2019

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