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TRUCKING INDUSTRY * USA
* UPS Profit Falls 49 Percent. Weak economy cuts into shipping demand
Atlanta,GA,USA -The Journal of Commerce -Jul 23, 2009: -- UPS saw its net profit fall 49 percent in the second quarter, to $445 million, and the company said it expected the economy that has cut deeply into shipping demand to remain just as weak in the coming months... Overall revenue at UPS fell 16.7 percent in the three months ending June 30 from the same period a year ago as volume across its domestic and international operations fell 4.7 percent. But UPS also said its free cash flow — an increasingly important measure of financial health in a tight credit environment — grew $195 million in the first half of 2009... UPS’s operating profit fell 38.4 percent compared to the second quarter a year ago as a 14 percent cut in operating expenses partly offset the drop in revenue, which fell from $13 billion last year to $10.8 billion in the most recent quarter... Revenue at the domestic parcel business was down only 12 percent, but that was partly because declining fuel prices have cut into fuel surcharges. The operating profit in that domestic package business dropped 47 percent, to $476 million... (Photo courtesy UPS) * Saia Posts 2Q Loss
Johns Creek,GA,USA -Transport Topics -24 July 2009: -- Saia Inc. said Friday it lost $1.7 million in the second quarter... The per-share loss for the quarter was 13 cents, compared with a profit of $5.3 million, or 46 cents per share, in the same quarter last year... Its operating loss was $0.4 million, compared with operating income of $10.9 million a year ago... Revenue fell 21% to $218 million, the company said in a statement. Saia is the parent company of less-than-truckload carrier Saia Motor Freight Line... (Photo from hankstruckpictures: Saia motor freight)
* Universal Truckload Services’ Income Falls
Warren,MI,USA -Transport Topics -24 July 2009: -- Universal Truckload Services said its second-quarter net income plunged 62.8% to $1.3 million, or 8 cents per share, from $3.5 million, 22 cents, a year ago... Revenue fell 40% to $119.9 million, the company said in a statement...* Knight Transportation Keeps Grip on Profit
Phoenix,AZ,USA -The Journal of Commerce, by William B. Cassidy -Jul 24, 2009: -- Net income drops only 1 percent as truckload carrier tightens operations, claims market share gain... Lower fuel costs and an increase in freight helped truckload carrier Knight Transportation keep its net income from falling more than 1 percent in the second quarter, despite a steeper drop in revenue... The Phoenix-based carrier reported $12.6 million in net income, down from $12.7 million a year earlier. It’s total revenue fell 21.4 percent to $162.1 million, compared with $206.1 million a year ago... (Photo from hankstruckpictures: Trucks road trip)
Labels: trucking industry news USA
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