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Reports show slow freight, rates took their toll on largest carriers’ bottom lines in 2016

2016 was by and large a tough year for carriers — one of the toughest in the long and slow recovery since the 2008-2009 recession. Freight was sluggish throughout most of the year, and rates stayed cheap because of it. These trends were reflected in the 2016 earnings reports issued in recent weeks by publicly traded trucking companies. Several of the carriers reported positive financial gains in the year, but more than half recorded drops in revenue, income and other metrics:


Celadon Group

Celadon Group Truck

For 2016 fiscal year (July 2015-June 2016)

Gross revenue

2016: $1.065 billion

2015: $900.8 million

EBIDTA

2016: $131.8 million

2015: $141.1 million

Net Income

2016: $24.8 million

2015: $37.2 million

Diluted earnings per share

2016: 91 cents/share

2015: $1.52/share


Covenant Transportation Group

For 2016 calendar year

Gross revenue

2016: $670.7 million

2015: $724.2 million

EBIDTA

2016: $104.9 million

2015: $125.7 million

Net Income

2016: $16.8 million

2015: $42.1 million

Diluted earnings per share

2016: 92 cents/share

2015: $1.93/share


Heartland Express

For 2016 calendar year

Gross revenue

2016: $612.9 million

2015: $763.3 million

EBIDTA

2016: $191.1 million

2015: $227.6 million

Net Income

2016: $56.4 million

2015: $73.1 million

Diluted earnings per share

2016: 68 cents/share

2015: 84 cents/share


J.B. Hunt Transport

J.B Hunt

For 2016 calendar year

Gross revenue

2016: $6.56 billion

2015: $6.19 billion

EBIDTA

2016: $1.07 billion

2015: $1.06 billion

Net Income

2016: $432.9 million

2015: $427.2 million

Diluted earnings per share

2016: $3.73/share

2015: $3.66/share


Knight Transportation

For 2016 calendar year

Gross revenue

2016: $1.12 billion

2015: $1.18 billion

EBIDTA

2016: $267.1 million

2015: $$296.2 million

Net Income

2016: $93.9 million

2015: $116.7 million

Diluted earnings per share

2016: $1.17/share

2015: $1.47/share


Landstar System

For 2016 calendar year

Gross revenue

2016: $3.17 billion

2015: $3.32 billion

EBIDTA

2016: $259 million

2015: $270.8 million

Net Income

2016: $137.3 million

2015: $147.7 million

Diluted earnings per share

2016: $3.25/share

2015: $3.37/share


Marten Transport

For 2016 calendar year

Gross revenue

2016: $671.1 million

2015: $665 million

EBIDTA

2016: $140.7 million

2015: $132.2 million

Net Income

2016: $33.5 million

2015: $35.7 million

Diluted earnings per share

2016: $1.02/share

2015: 99 cents/share


P.A.M. Transportation Services

For 2016 calendar year

Gross revenue

2016: $430.2 million

2015: $417.1 million

EBIDTA

2016: $60.7 million

2015: $68.6 million

Net Income

2016: $11.5 million

2015: $21.4 million

Diluted earnings per share

2016: $1.75/share

2015: $2.93/share


Swift Transportation

Swift lost the latest round in the now 7-year-old court case.

For 2016 calendar year

Gross revenue

2016: $4.03 billion

2015: $4.23 billion

EBIDTA

2016: $535.3 million

2015: $640.1 million

Net Income

2016: $149.3 million

2015: $197.6 million

Diluted earnings per share

2016: $1.22/share

2015: $1.49/share


USA Truck

For 2016 calendar year

Gross revenue

2016: $434.2 million

2015: $507.9 million

EBIDTA

2016: $33.8 million

2015: $63.3 million

Net Income (loss)

2016: (3.9 million)

2015: $11.1 million

Diluted earnings per share

2016: (4 cents)/share

2015: $1.27/share


Werner Enterprises

For 2016 calendar year:

Gross revenue

2016: $2.01 billion

2015: $2.09 billion

EBIDTA

2016: $335.8 million

2015: $393.7 million

Net Income

2016: $79.1 million

2015: $123.7 million

Diluted earnings per share

2016: $1.20/share

2015: $1.09/share

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

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