Saia & Fletes Mexico announce exclusive cross-border partnership
PRESS RELEASE April 01, 2024 10:07 ET| Source: Saia, Inc. JOHNS CREEK, Ga., April 01, 2024 (GLOBE NEWSWIRE) ...
FREIGHTWAVES reports:
A couple of less-than-truckload carriers reported moderating trends Wednesday. Third-quarter updates from both Old Dominion Freight Line and Saia Inc. showed that the robust year-over-year (y/y) growth rates recorded over the last few quarters are continuing to slow.
Old Dominion (NASDAQ: ODFL) reported revenue was up 14.5% y/y in August, a growth rate that was 390 basis points (bps) lower than it recorded in July. Tonnage during the month was down 0.9% y/y following a 1.4% decline in July. Lower shipment counts were only partially offset by higher weight per shipment.
The August tonnage dip was worse than expected as some analysts were calling for a slight gain to as much as a mid-single-digit increase during the month. Part of the positive expectation was due to a perceived easier comp to 2021. Old Dominion’s tonnage was up just 10.9% y/y in August 2021, which was a slowdown from increases of 30% to high-teen percentages recorded from April to July 2021…
To read the full post, please click here.
Dominion Freight Line and Saia were two of the worst performers on Wednesday 7 September among all the T&L stocks on our radar, having fallen 2.95% and 3.63%, respectively.
Now read: “ArcBest update shows signs of moderation; Saia EPS estimates cut“.
'I'm scared', says Boeing whistleblower, after two others suffer mysterious deaths
DSV could face $16m bill after helicopter is written off in haulage accident
FAK rate hikes holding, with strong demand into peak season predicted
Déjà vu as major ocean carriers scramble for tonnage and containers
Indian trade disrupted as port congestion forces liner services to skip calls
Shipper frustration as spot rates rise alongside demand, and cargo is rolled
Don't get too confident for Q2, market risks haven't disappeared, warns Yang Ming chief
Comment on this article