Revenues slide in the US

Revenues slide in the US Revenues slide in the US

Revenues and profits have decreased for large US carriers as companies release earning reports for 2016.

The online newsletter of Overdrive reports that revenues and profits for big carriers revenues and profits shrunk as large publicly traded US companies issued earning reports for 2016.

One of the biggest falls came from Landstar, who reported a reduced gross revenue of $150 million resulting in a net profit loss of $10 million.

Rival operators Werner Enterprises ($80m), Knight Transportation ($60m) Covenant Transport ($53.5m), and USA Truck ($3.9m) also reported hefty losses in revenue, while Heartland Express equalled Landstar’s $150 million income reduction.

It appears some of the prior year’s income has been absorbed by other freight companies, with Overdrive reporting that J.B Hunt and Marten had better revenue and incomes in 2016 compared to 2015.

Transport businesses Celadon and P.A.M Transportation also reported better revenues but lower income.

Celadon saw an increase of $100 million in revenue over 2015. However, it could not maintain the same yield, and 2016’s net profit dropped from $37 million to $24.8 million. Consequently, its shares had dropped from $1.52/share in 2015 to $0.91/share in 2016. 

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