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USA Truck rolls to 2Q profit

USA Truck rolls to 2Q profit-Forwardernews

The Van Buren trucking company's earnings per share were 31 cents for the quarter that ended June 30 compared with a 35-cent loss per share for the same quarter in 2017.
Total revenue for the period, including fuel surcharges, increased to $135.4 million compared with $107.4 million posted for the year-ago period. Excluding fuel surcharges, the company had revenue of $119.1 million for fiscal 2018's second quarter.
In Thursday's earnings report, James Reed, USA Truck's president and chief executive officer, said the company delivered solid results for its fourth-consecutive quarter and attributed the progress to "our most critical metric, revenue per truck per week."

Pressures Of America's Truck Driver Shortage Extend To Restaurant Industry

Pressures Of America's Truck Driver Shortage Extend To Restaurant Industry- Forwardernews

We have a major trucking shortage in this country. The American Trucking Associations estimate that 2017 saw the greatest driver shortfall to date and that it could reach 174,000 unfilled driver positions by 2026.
According to Cass Information Systems Inc., U.S. trucking and rail-freight spending increased by more than 17% in May compared with May 2017. And there doesn’t seem to be an end in sight. Shippers, carriers, and brokers polled by Morgan Stanley expect trucking costs to increase 6.4% this year on average.
Consumer packaged goods companies have already been feeling the pinch. During its most recent earnings calls, Kellogg Co. noted that freight is causing its most “acute” cost pressures.

Upcoming event aims to help women explore trucking industry

Upcoming event aims to help women explore trucking industry-Forwardernews

Trucking apparel company S.H.E. Trucking Apparel is hosting an upcoming event called The Big Rig Kids with Grandma Polly. Renee Brown, a former trucker who is also known as Grandma Polly, is an author of a series of books to inspire young adults.
S.H.E. Trucking stands for Sisterhood Helping Empowerment in Trucking. The business’ event is designed to present a window into the trucking industry for young women who may want to explore the field as a career option.
“We encourage kids and adults can come out to get a full experience,” CEO and Founder of S.H.E. Trucking Sharae Moore said in a prepared statement. “Dream big. You can be anything you want to be.”

Uber's trucking ambitions in lower gear after Otto deal

An Autonomous trucking start-up Otto vehicle is shown during an announcing event in California-Forwardernews

The San Francisco ride-services giant had planned to disrupt freight hauling by offering a complete package of trucking technology including self-driving trucks and smartphone-based logistics services.
But what has emerged so far, industry watchers say, is a modest effort to build a brokerage service connecting truckers looking for loads to shippers with cargo to haul.

Stifel resumes coverage of 3PLs, finds favorable freight environment

Stifel resumes coverage of 3PLs, finds favorable freight environment-Forwardernews

A common theme in Stifel’s notes was the historically tight capacity environment that U.S. freight markets are currently experiencing: in the reports, Chan characterized capacity tightness as ‘secular’ and ‘structural’, implying that for the foreseeable future, shippers will be forced to rely on brokers to source capacity. 
Stifel rated CH Robinson a ‘buy’ with a price target of $101 (20x estimated 2019 earnings per share), XPO a ‘hold’ with a price target of $118 (27x estimated 2019 EPS), Echo a ‘buy’ with a price target of $34 (18x estimated 2019 EPS), Landstar a ‘hold’ with a price target of $123 (17.8x estimated 2019 EPS), and Universal Logistics a ‘hold’ with a price target of $27 (16x estimated 2019 EPS).

Brazil Truck Freight Talks Lag, Lead to Shipping Delays

Brazil Truck Freight Talks Lag, Lead to Shipping Delays-Forwardernews

Maggi told reporters in Brasilia that at least 60 ships in all Brazilian ports are facing loading delays because of reduced trucker movement from areas such as Brazil's center-west grain belt to southern ports.
Owners of goods such as soybeans, corn, and meat are at odds with the government over minimum truck freight prices it proposed as a measure to end the strike and many are refusing to hire trucks.
A new proposal promised by the government has yet to materialize.
"There are a lot of products waiting for transportation. We should be moving 450,000 tonnes of goods to ports every day, but we are not," said Maggi.

High demand continues to absorb used truck supply

High demand continues to absorb used truck supply-Forwardernews

Volume at auction lower than predicted

The volume of used trucks going to auction continued to be lower than expected in May due to heightened demand. Fleets are keeping existing equipment on top of purchasing used trucks. J.D. Power described pricing as “stable to slightly downward” as a result.

Refrigeration Specialist Adds to Solar Panel Portfolio

Refrigeration Specialist Adds to Solar Panel Portfolio-Forwardernews

In low light, Thermo King’s new solar panels collect energy to keep the refrigeration unit’s battery fully charged. This eliminates the need to use the engine to charge the battery and reduces fuel consumption by up to 23 percent and CO2 emissions by 560kg. Solar panels are especially ideal for customers who have sustainability goals.

Trucking industry losing drivers faster than they can recruit

Trucking industry losing drivers faster than they can recruit-Forwardernews

South Carolina is looking for a few good truckers — more than a few, actually.

The U.S. needs 50,000 truck drivers to avoid a shipping squeeze

The U.S. needs 50,000 truck drivers to avoid a shipping squeeze-Forwardernews

According to the American Trucking Associations, there's a shortage of roughly 50,000 truck drivers across the country. And it's hitting both businesses and consumers in the wallet.
Companies are complaining about how the driver shortage is impacting their business. Meanwhile, the cost of convenient shipping is starting to catch up with consumers.
Amazon recently hiked its Prime membership to $119 a year from $99 a year. The retail giant said one of the reasons for the price jump was increased shipping costs.
But the driver shortage isn't just because of demand created by online shopping. There's a lot going on behind the scenes, according to Bob Costello, the chief economist at American Trucking Associations.

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