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Economic trends: Page 3

Spot rates cooling in mid-August, but capacity tightness keeps pricing elevated

Truckload spot rates saw sharp, historic weekly declines in mid-August led by flatbed and dry van segments, yet rates remain up more than 30% year-over-year amid tightening structural capacity.

August 19, 2026

Semi-trucks parked at a large warehouse loading facility with clear blue sky

Economic trends

Trucking market conditions remained strong in June: FTR

FTR's Trucking Conditions Index fell from May to June but remained strong with a slightly less robust freight rate growth that was partially offset by lower diesel prices. Also: I-70 closure in Indiana; New York blitz parks 126 trucks.

August 14, 2026

Blue Kenworth semi-truck with refrigerated trailer parked at warehouse facility with white trailers in background

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November 9, 2026

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Freight recovery could be longest in history because capacity rebound won't be quick

A regulatory push targeting noncompliant carriers and unqualified drivers is squeezing available truck capacity, accelerating rate rebounds that may only go up from here.

August 12, 2026

Red commercial truck with 'Drivers Wanted' recruitment sign on cabin window

EPA rules, sold-out build slots slow surging Class 8 truck orders

Preliminary July North American Class 8 net orders surged up to 75% year over year as near-capacity 2026 build slots and pending EPA regulations constrained new order volume.

August 7, 2026

Industrial truck engine assembly in manufacturing facility with blue piping and radiator components

Landstar tightens carrier vetting as SCOTUS ruling and nuclear verdicts redefine broker liability

Following the Supreme Court’s Montgomery decision, Landstar System is aggressively tightening its carrier vetting standards and attracting independent freight brokers seeking shelter from escalating litigation risks.

August 7, 2026

Blue Peterbilt semi-truck with Landstar branded teardrop flags at a commercial property

PAMT lands first rate hike in three years as market shifts, but financial losses mount

Tontitown-based carrier PAMT Corp. grew second-quarter revenue by 8.9% to $164.7 million while securing its first sequential freight rate increase in over three years.

August 5, 2026

White Peterbilt semi-truck with PAM branding and number 16059 parked in industrial lot

Volatile freight market drives rates up in second quarter as qualified capacity shrinks

A shrinking pool of qualified carriers and tighter regulatory enforcement drove up spot rates across all major equipment modes in the second quarter of 2026, according to TA Services' latest trendline report.

August 4, 2026

Interior view of cargo truck loaded with four wrapped pallets ready for shipment

'Driver constrained' market leading rate rebound, Schneider exec says

Powered by an accelerated squeeze in driver supply and internal cost cuts, Schneider National reported a 38% jump in second-quarter adjusted earnings and raised its full-year outlook.

August 3, 2026

Orange Schneider semi-truck trailer driving under a modern highway overpass

Covenant faces 'disappointing' trucking costs thanks to insurance settlements, maintenance

A spike in legal claim settlements and maintenance expenses pulled Covenant Logistics' adjusted operating income down 19%.

August 3, 2026

Two white Covenant Transport Inc. trucks parked symmetrically in front of a curved modern building with columns

Back in black: Heartland Express returns to profitability

Heartland Express returned to profitability in the second quarter of 2026, driven by operational cost cuts, improved freight pricing, and ongoing debt reduction.

August 3, 2026

Fleet of white semi-trucks with red and blue striping parked in a row against a blue sky

Freight demand forecast gets 1.7% bump despite fragile market

Breakthrough's May freight index grew just 0.2% as 4.2% inflation, energy costs, and shifting consumer demand impact truckload capacity.

July 31, 2026

Semi-truck on highway with text overlay reading 'Rates Up. Volume Flat.' depicting freight industry challenges

Saia hits Q2 revenue record thanks to rate increases, pricing discipline

Saia achieved record second-quarter 2026 revenue of $956.5 million and a 31.5% profit jump, propelled by strategic rate increases, disciplined pricing, and network expansion that helped offset rising labor and fuel costs.

July 30, 2026

Red SAIA LTL Freight semi-truck with blue trailer parked on highway with green grass and blue sky

Pricing power drives Old Dominion’s Q2 rebound

Old Dominion Freight Line reported a 30.5% surge in second-quarter net income to $350.6 million.

July 29, 2026

Old Dominion Freight Line delivery truck parked outside corporate headquarters with patriotic branding

ABF: Capacity squeeze driving heavier shipments, volume back to LTL

Tightening truckload capacity, rising carrier costs, and legal pressures are driving shippers to move heavier, more complex freight back into less-than-truckload networks.

July 29, 2026

Blue Freightliner semi-truck with white trailer driving on highway at sunset

Werner CEO: Still in 'early innings' of carrier exits

Driven by regulatory crackdowns, legal risks, and rising costs that are tightening overall market capacity, Werner Enterprises reported a 24% increase in second-quarter 2026 revenue to $933.9 million as shippers shift business toward established, asset-backed carriers.

July 29, 2026

Two blue semi-trucks with company branding parked on concrete lot under cloudy sky

Spiking truckload rates signal relief for volatile LTL market

Rising truckload shipping rates are outpacing less-than-truckload prices for the first time since 2022, signaling a potential turn in freight volume back toward LTL networks.

July 26, 2026

Blue and white Peterbilt semi-truck with refrigerated cargo trailer parked at industrial warehouse facility

Marten Transport: 'We're getting higher pricing from our customers'

Marten Transport reported a 25.8% drop in second-quarter net income to $5.3 million compared to last year, despite a 286.3% sequential surge over the first quarter as management signaled an emerging freight market recovery.

July 24, 2026

Marten Transport white and blue semi-truck with refrigerated trailer parked on road surrounded by trees at dusk

Economic trends

Truck tonnage held mostly flat in June

ATA's Truck Tonnage Index rose by 0.1% in June over May but declined 0.1% from June 2025. Also: NYC expands CDL training program for formerly incarcerated; Pennsylvania ups fines for unauthorized CDL schools; 8 Peterbilts, Kenworths recalled, fixed.

July 22, 2026

ATA Truck Tonnage Index chart showing June 2026 data with 0.1% increase, tracking seasonally adjusted tonnage trends from 2022 to 2026

Page 3 of 85

Red semi-truck with green cargo trailer driving on highway with motion blur

Truckload rates hold steady as holiday freight season tests limited capacity

Truckload rates remain near historic highs and carriers retain strong negotiating leverage as rising peak-season freight volumes meet limited equipment capacity and elevated fuel costs.

Mechanic selecting tools from organized toolbox containing wrenches, sockets, and hand tools

Heavy-Duty parts inflation slows to .4% nationwide, masking steep regional swings

Union Pacific diesel locomotives lined up on railroad tracks in a rail yard under clear sky

Proposed rail merger would slash 2.1 billion long-distance truck miles from the highway annually, report finds

Four colorful semi-trucks parked in front of Roane Transportation facility building with wooded hillside background

PS Logistics expands flatbed footprint with Roane Transportation acquisition

Red elephant and blue donkey facing off against American flag background, symbolizing Republican and Democratic political opposition.

Democratic sweep of Congress sets up high-stakes battle over trucking regulations

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