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Trucking Industry's Analysis * USA - Hard times aren't hard enough?
Things are bad in the trucking industry, but they're not bad enough, an analyst said
New York,NY,USA -Associated Press/Forbes -27 April 2009: -- Donald Broughton, an analyst with Avondale Partners, said 480 trucking companies went out of business in the first quarter. While that seems like a big number, Broughton said that many more truckers still need to fail to improve demand for the remaining players... Those companies held a total of less than 1 percent of the country's total trucking capacity... And even the remaining truckers are idling less of their fleets. Less than one-third the number of trucks were turned off in the first three months of the year than in the same period a year ago. Broughton believes that lower fuel prices saved many companies from going under... Some trucking companies have been forced to slash their prices because there are still too many trucks going after too little freight... Broughton estimates that more than 5 percent of trucks need to be plucked off the road before prices will stabilize, and trucking companies can see business get better...* Recession rocks trucking earnings
Atlanta,GA,USA -Fleet Owner, by Sean Kilcarr -Apr 27, 2009: -- It's not much of a surprise that the ongoing economic turmoil – globally and domestically – is hurting both the revenues and earnings of a wide variety of freight transportation companies. What is interesting is that many are managing to stay in the black, albeit by making large cost cuts in operations, capital spending, and a myriad of other areas... Scott Davis, chairman & CEO of United Parcel Service noted that UPS is maintaining its small package margins, has expanded its market share both domestically and overseas, and continues to generate strong cash flow. However, it is scaling back 2009 capital spending by an additional $200 million, bringing the total to just below $2 billion, he said... (Photo from ecolosfera.com: UPS-hybrid)
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