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TRUCKING INDUSTRY NEWS * USA & Canada
* UPS 3Q Profit Rises
USA -The Associated Press -25 Oct 2007: -- “Clearly, we're headed in the right direction”... UPS, the world's largest shipping carrier, reported Tuesday a 3.7 percent increase in third-quarter profit on a modest rise in sales. But it said fourth-quarter growth will be its slowest in four years due largely to weak U.S. retail sales... While it said its earnings projection for the year will be in line with previous projections, the company said it expects slowing retail sales will restrain U.S. domestic volume growth...
* Not happy with fee hikes in budget
New Richmond,WI,USA -New Richmond News/Wheeler News Service -October 24, 2007: -- Wisconsin’s trucking industry is not happy about a 30 percent increase in truck registration fees in the new state budget... Thomas Howells, head of the Wisconsin Motor Carriers Association, calls it a bit of a shock... Howells says the increase will raise the state’s truck fee by almost $600, to around $2,600, the 10th highest in the nation... That, coupled with the state’s high fuel taxes are said to be a source of frustration for truckers.
But Howells says not everything about the new budget is gloom and doom... He says the decision to scrap the new tax on oil profits will save his company nine to 10 cents a gallon...
* Celadon profit plunges due to weak demand
Indianapolis,IN,USA -The Indianapolis Business Journal -October 24, 2007: -- Soft demand for long-haul trucking services caused profit to dive in the first fiscal quarter for Celadon Group Inc.... The Indianapolis company reported this afternoon that it earned $2.5 million, or 11 cents per share, in the period ended Sept. 30—well below the 27 cents expected by analysts surveyed by Thomson Financial... The company said the quarter was undermined by conditions it described as among the most difficult for the industry in several years...
* Ryder profit edges up as economic slump takes toll
San Francisco,CAL,USA -MarketWatch, by Shawn Langlois-Oct 24, 2007: -- Trucking giant Ryder System Inc. on Wednesday said third-quarter profit rose slightly as a strong performance in its supply chain segment made up for weakness on the commercial rental side... The Miami-based transportation company handed in a profit of $65.5 million, or $1.11 a share, up from $65.3 million, or $1.06 a share, a year earlier... Excluding an after-tax restructuring charge of $1.7 million, earnings were $1.14 a share... Revenue increased 1.7% to $1.65 billion from $1.62 billion...
* Marten Transport posts lower earnings
Milwaukee,Wis,USA -The Business Journal of Milwaukee -23 Oct 2007: -- Marten Transport Ltd., a freight carrier specializing in temperature-controlled truckloads, said Tuesday that its third-quarter profit fell because of reduced freight demand... Marten reported net income for the three months ended Sept. 30 of $3.1 million, or 14 cents per share, less than half the $6.7 million, or 31 cents per share, posted in the same period a year earlier... Operating revenue increased to $145 million from $135.8 million...
* PGT Trucking launches new team opportunity in Texas
TX,USA -eTrucker -25 Oct 2007: -- PGT Trucking has announced a long-term exclusive contract for teams to deliver Sterling Bullet truck chassis from Laredo to dealerships throughout the country... PGT pays 45 cents per mile, per team, driving up to 6,000 miles per week... The freight is pre-loaded, only requiring off-loading at the point of destination. Major destination lanes out of Laredo include Atlanta, Chicago, Dallas, Detroit, Houston, Los Angeles, Miami, New York and Washington, D.C...
* AWARD - California Trucking Association honors Con-way Freight for safety
CAL,USA -eTrucker -25 Oct 2007: -- Con-way Freight recently won several California Trucking Association's Fleet Safety Awards... The company took the evening's top honor — the Fleet Safety Award/Board of Directors Grand Trophy — in addition to first place in LTL/General Commodities – Line Haul, second place in LTL/General Commodities – Local/Short Haul and a Certificate of Recognition from the California State Assembly...
* Schneider National Wins Second Consecutive Environmental Excellence Award From The U.S. Environmental Protection Agency
Erie,PA,USA -Logistics On Line -25 Oct 2007: -- Schneider National, Inc., a premier provider of transportation, logistics and intermodal services, announced recently the receipt of its second consecutive Environmental Excellence Award... The award, earned by Schneider for demonstrating leadership in conserving energy and lowering greenhouse gas emissions from its transportation and freight activities, is given by the U.S. Environmental Protection Agency SmartWay Transport Partnership...
* Canada - Vitran shares shift into reverse on disappointing third quarter
Toronto,ONT,Canada -Communities.canada.com/FP Trading Desk -25 Oct 2007: -- Vitran Corporation Inc. shares were down almost 20% Tuesday after the North American transportation and logistics firm announced disappointing third quarter results... Vitran achieved net income of $3.1-million, or 23¢ per diluted share, on revenue of $171.9-million for the quarter compared with net income of $4.9-million, or 38¢ per diluted share, on revenue of $121.5-million this time last year...
* Old Dominion Freight Line 3Q Profit Falls Less Than 1 Pct
Thomasville,NCV,USA -AP/biz.yahoo.com -October 25, 2007: -- Trucking company Old Dominion Freight Line Inc. said Thursday lower pricing and higher costs trimmed its third-quarter earnings less than 1 percent as it missed Wall Street's expectations... The company, which also lowered its full-year outlook, earned $20 million, or 54 cents per share, compared with 20.1 million, or 54 cents per share, in the year-ago quarter... Revenue increased 8 percent to $363.3 million, from $337.6 million in the prior-year period...
posted by Unknown @ 5:13 AM
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