FW: Truckload carriers’ forecasts cut heading into Q1 prints
FREIGHTWAVES reports: Analysts are cutting earnings estimates for truckload companies heading into first-quarter reports. Acknowledging decent ...
FREIGHTWAVES reports:
Leading up to and following the demise of Yellow Corp., shippers and brokers were quick to redistribute freight to other carriers. However, some of the newly formed shipper-carrier relationships may not be long-lived, according to a survey from investment firm Morgan Stanley.
A Monday report showed that of the more than 300 shippers and 3PLs queried, all of which had recently worked with Yellow, 35% are still looking for another carrier for their less-than-truckload shipments, indicating their first choice post-Yellow is not a permanent fit. Pricing, service and network fit are some of the reasons for another, albeit more modest, shake-up in the LTL landscape.
Yellow historically held a roughly 9% share of the LTL market but that number likely dwindled a couple of hundred basis points ahead of its late-July shutdown…
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