Please disable your Ad Blocker in your browser's extentions.

Carriers saw declining revenues, profits in first half of 2017

Revenue and income for some of the country’s largest carriers, as reported over the last few weeks in their public quarterly earnings reports issued to shareholders, dipped in the first half of 2017 compared to the same period last year.

Most of the carriers who file quarterly earnings statements, some of the country’s largest trucking companies, reported increased operating expenses, mostly stemming from fuel, maintenance and employee salaries and benefits. Expenditures on so-called purchased transportation, that is hiring on owner-operators or small carriers to move loads, also rose for most of the country’s publicly traded carriers.

2016 was a rocky year for the many carriers, due to cheap freight rates and, at times, sluggish freight movement. Several of the same carriers listed below reported declines in revenue and profits in 2016 compared to the year prior. Those conditions, at least according to the reports filed this month and last, appear to be lingering.

The numbers below are for January-June of both years.


Covenant Transportation

Covenant Transport Semi-Truck

Gross revenue

2017: $323 million

2016:  $315.1 million

EBIDTA

2017: $44 million  

2016: $47.6 million

Net Income

2017: $1.5 million

2016: $7.4 million

Diluted earnings per share:

2017: 8 cents/share

2016: 20 cents/share


Heartland Express

Heartland Express 18-Wheeler

Gross revenue

2017: $259.5 million

2016: $323.6 million

Net Income

2017: $40.7 million

2016: $44.8 million

Diluted earnings per share:

2017: 34 cents/share

2016: 37 cents/share


J.B. Hunt

J.B Hunt Tractor Trailer

Gross revenue

2017: $3.012 billion

2016:  $291 billion

Net Income

2017: $313 million

2016: $343.7 million

Diluted earnings per share:

2017: $1.80/share

2016: $1.80/share


Knight Transportation

Knight Transportation Semi-Truck

Gross revenue

2017: $544.4 million

2016: $548.4 million

Net Income

2017: $32.8 million

2016: $47.9 million

Diluted earnings per share:

2017: 40 cents/share

2016: 59 cents/share


Landstar Systems

Landstar Semi-Truck and Trailer

Gross revenue

2017: $1.651 billion

2016: $1.487 billion

Net Income

2017: $69.9 million

2016: $61.5 million

Diluted earnings per share:

2017: $1.66/share

2016: $1.45 /share


Marten Transportation

Marten Transportation Truck and Trailer

Gross revenue

2017: $344.7 million

2016: $328 million

Net Income

2017: $17.4 million

2016: $16.7 million

Diluted earnings per share:

2017: 23 cents/share

2016: 56 cents/share


P.A.M Transportation

PAM Transportation 18-Wheeler

Gross revenue

2017: $218 million

2016: $215.1 billion

Net Income

2017: $3.89 million

2016: $6.92 million

Diluted earnings per share:

2017: 61 cents/share

2016: $1.01 /share


Swift Transportation

Swift Transportation Semi-Truck

Gross revenue

2017: $1.956 billion

2016: $1.978 billion

EBIDTA

2017: $216 million  

2016: $269 million

Net Income

2017: $31.5 million

2016: $74.8 million

Diluted earnings per share:

2017: 23 cents/share

2016: 56 cents/share


USA Truck

USA Truck Tractor Trailer

Gross revenue

2017: $209 million

2016: $$220.5 million

Net Income (loss)

2017: ($7.7 million)

2016: ($3.2) million

Diluted earnings (loss) per share:

2017 (2Q): (96 cents)/share

2016 (2Q): (35 cents)/share


Werner

Werner Enterprises Semi-Truck

Werner in its third quarter earnings report said it cut 90 more trucks from service in the quarter, bringing its year-over-year reductions to 240. “We again reduced our average trucks in service…from second quarter 2016 to third quarter 2016 in response to the freight market conditions. We are not growing our truck fleet until we see meaningful improvement in the freight and rate markets,” Werner’s earnings report reads.

Gross revenue

2017: $1.021 billion

2016: $981.4 mllion

Net Income

2017: $39.2 million

2016: $38.4 million

Diluted earnings per share:

2017: 54 cents/share

2016: 53 cents/share

AD

There are 3 comments

Your email address will not be published. Required fields are marked *

James Jaillet is the News Editor for CCJ and Overdrive. Reach him at jjaillet@randallreilly.com.