Earnings Watch: Old Dominion Earnings Spike 21.4% in Second Quarter

Photo: ODFL

One of the country's leading LTL carriers, Old Dominion Freight Line (NASDAQ: ODFL) scored high in the second quarter, reporting a 21.4% increase in earnings per diluted share to $1.19 on revenue of $839.9 million. Net income climbed 20.9%, reaching $94.4 million.

The results, reported on July 27, are “likely to encourage investors to send Old Dominion roaring past its 52-week share price high of $100.71 in early trading today,” pointed out analysis posted by the Winston-Salem Journal.

The newspaper's writer contended that ODFL's record performance “centers on gaining market share through adding and expanding [distribution] centers” since the less-than-truckload carrier “ships products more quickly and attracts more customers because it does not depend on a full trailer to make a profit.”

“Old Dominion produced strong financial results for the second quarter of 2017, which included a double-digit increase in revenue and an increase of more than 20% in earnings per diluted share," said David Congdon, vice chairman and CEO. "These were the best growth rates in revenue and earnings per share since our first quarter of 2015.”

Congdon said Q2's 11.2% increase in revenue was driven by a 6.1% rise in LTL tonnage per day and a 5.1% increase in LTL revenue per hundredweight. “Excluding fuel surcharges, our LTL revenue per hundredweight increased 3.8%. We believe that the growth in LTL tonnage was attributable to the continued improvement in the domestic economy and the consistent execution of our long-term strategic plan of delivering superior service at a fair price.”

In addition, ODFL's Q2 operating ratio improved 140 basis points to set a new company record of 80.9%. Congdon attributed this improvement generally to leverage created by the carrier's accelerated revenue growth, which he said benefited from increases in both freight density and yield. “As a result, most of our operating ...Read the rest of this story

FMCSA to Let Carriers Dispute Crash Fault

Photo: FMCSA

Following up on a two-year-old proposal, the Federal Motor Carrier Safety Administration will launch on Aug. 1 a demonstration program that will enable motor carriers to dispute the determination of certain truck crashes as “preventable.”

The program could lead to improved Compliance, Safety, accountability scores for carriers if the agency reclassifies the cause of crashes previoulsy deemed preventable..

Based on recommendations made by the American Trucking Associations and other public comments submitted on an earlier notice abouit an agenbcy crash-causation study, on July 12, 2016 the agency proposed that it would accept from carriers requests for data review (RDRs) on accident determinations via a demonstration program.

Under this scheme, the agency would accept RDRs “to evaluate the preventability of certain categories of crashes” through its DataQs national data-correction system.

More specifically, FMCSA proposed that a crash challenged through an RDR would be found “not preventable” when documentation submitted with the RDR established that the crash was, indeed, not preventable.

The newly released notice, published in the Federal Register for July 27, gives the Aug.1 start date for the demonstration program and describes the crash types that will qualify for the demo; the process for submitting RDRs to evaluate the preventability of a crash; and how “decisions on preventability” will be displayed in agency systems. It also explains the data to be collected through this program “for use in future decisions about a longer-term crash preventability program.”

As of Aug. 1, carriers may begin submitting RDRs on crashes— which must have occurred on or after June 1, 2017. FMCSA stated that “the burden is on the submitter to show by compelling evidence that the crash was not preventable. However, in these and all crashes, FMCSA reserves the right to request additional information on the crash, which may include any documentation the carrier is required to ...Read the rest of this story

Arrow Truck Sales Donates Volvo VNL to Women In Trucking

Photo: Women In Trucking

Arrow Truck Sales of Kansas City, Mo., has announced that it will donate a 2014 Volvo VNL 670 to the Women In Trucking Association for its 2018 Truck Giveaway.

Ellen Voie, president and CEO of WIT will give away the vehicle on March 24, 2018 during the 9th annual “Salute to Women Behind the Wheel,” at the Mid-America Trucking Show at the Kentucky Exposition Center in Louisville, Ky.

“We are thrilled to be able to give a truck to one of our members at our annual Salute to Women Behind the Wheel,” said Voie. “I am especially looking forward to handing over the keys to the Volvo to allow one deserving member the chance of a lifetime, thanks to Arrow Truck Sales and their very generous donation.”

Arrow Truck Sales is a source of used heavy- and medium-duty trucks with locations across the U.S. and Canada. It is a Gold Partner supporter of the WIT Association.

“Arrow has long been supportive of equality and diversity efforts within the trucking industry," said Jim Stevenson, Arrow's director of national accounts and WIT board member. "We look at this as an opportunity to help a WIT member by providing a 2014 Volvo VNL 670 to support his or her success as an owner-operator.”

The Women In Trucking Association is a nonprofit organization aimed at encouraging the employment of women in the trucking industry, promoting their accomplishments, and minimizing obstacles to women in the industry.

Applications for the 2018 Truck Giveaway are open until Nov. 15, 2017. The contestant must be at least 23 years old and hold a valid commercial driver's license and be a member in good standing of WIT before September 30, 2017.

To qualify, a driver must complete an application form to verify eligibility and write a short essay on why it ...Read the rest of this story

CVSA Sets Operation Safe Driver Week in October

Image via CVSA

The Commercial Vehicle Safety Alliance's Operation Safe Driver Week has been scheduled for Oct. 15 to 21, with law enforcement across the country identifying unsafe driving behavior in commercial and passenger vehicles.

Law enforcement personnel will be issuing warnings and citations for drivers, targeting unsafe driver behaviors that make up the leading cause of crashes. The Federal Motor Carrier Safety Administration cites driver behavior as the critical reason for more than 88% of large truck crashes and 93% of passenger vehicle crashes.

The Operation Safe Driver Program was created to help reduce the number of crashes, deaths, and injuries involving commercial vehicles due to unsafe driving behaviors. During the week, there will be increased commercial vehicle and passenger vehicle traffic enforcement.

Dangerous driving behaviors targeted by the event will be speeding, distracted driving, texting, failure to use a seatbelt, following too closely, improper lane change, failure to obey traffic control devices and other similar violations.

Operation Safe Driver Week is sponsored by CVSA, in partnership with FMCSA and with support from industry and transportation safety organizations, and aims to help improve the behavior of all drivers operating in an unsafe manner – either in or around a commercial vehicle– through educational and traffic enforcement strategies to address individuals exhibiting high-risk driving behaviors.

Related: CVSA Releases Results from Unannounced Brake Safety Day

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TSA Demonstrates How to Uncover Hidden Improvised Explosive Devices

A handful of FSC attendees were selected to find the above IEDs, which were hidden on two vehicles. Photo: Jim Park

The team was led by David Cooper, highway and motor carrier manager at TSA, Daryn Frank, supervisory transportation security inspector, and Danny McGuire, transportation security specialist for explosives out of TSA's Chicago field office.

After brief introductions by both Cooper and Frank, McGuire took the stage and gave the audience an historical and technical overview of IEDs and their capabilities. He also presented a handful of videos demonstrating their destructive effects.

After briefing the audience, McGuire led them outside to a hands-on demo that included searching for IEDs on a mixer truck, provided by Ozinga Brothers, and a Ford Transit van.

Using vehicle inspection mirrors, two teams consisting of FSC attendees searched both vehicles for IEDs, finding devices that included pipe bombs, grenades set to explode when doors were open, both timed and remote devices, as well as devices that would be triggered by movement.

The presentation was adapted to improve the attendees' fleet security posture as part of TSA's Intermodal Security Training and Exercise Program (I-STEP).

TSA performs these exercises as part of I-STEP, which includes active shooter, hostage, and other similar demos.

Fleets may choosse to contact TSA to perform security assessments on their truck operations, free of charge. For more information, contact David Cooper at [email protected].

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Purkeys Offers Solar Charging Solutions For Inactive Equipment

Purkeys has is offering two solar charging solutions, the Solar Bolt and Solar Dash, designed to help fleets keep batteries charged in inactive equipment.

The Solar Bolt is installed on the roof of a trailer to provide a constant charge to electrical accessories such as liftgate batteries and reefers. The Solar Dash is placed on the dash to help keep batteries charged over extended periods of inactivity.

These products are designed to complement conventional charging systems used by fleets to keep batteries in a high state of charge. These solar solutions are particularly useful during long summer days, according to Purkeys.

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Driver Assistance Technology as a Co-Pilot

The roundtable discussion was hosted by the U.S. National Safety Council. Photo: Stephane Babcock

SCHAUMBURG, Ill. — Advanced driver assistance systems like the ones that sound an alarm if you're tailgating — or even apply vehicle brakes automatically — are proving themselves to be more than a novelty.

Schneider has already equipped 12,000 of its trucks with autonomous emergency braking systems that will act if a crash seems imminent. Related collisions have now dropped by 69% and their severity has plunged 95%, says Thomas DiSalvi, the fleet's vice president – safety and loss prevention. “This is ready for prime time.”

The underlying technologies have clearly come a long way, according to participants in a roundtable hosted this week by the U.S. National Safety Council.

In-dash and audible warnings give drivers a chance to react before automated brakes apply.

In-dash and audible warnings give drivers a chance to react before automated brakes apply.

Fred Andersky, director – customer solutions and marketing at Bendix Commercial Vehicle Systems, refers to early Eaton VORAD collision warning systems as “the old bridge detection system” because of false warnings that were triggered by more than surrounding hazards. But it all laid the groundwork for the idea that technology could generate safety-related responses, he said.

Gains have also been based on another longstanding equipment update in the form of Antilock Braking Systems (ABS). Those made possible the Electronic Stability Controls (ESC) that automatically apply selected brakes to help prevent rollovers. Meanwhile, the data from cameras and radar needed to monitor lane positions and following distance have built on such brakes and stability controls to create collision mitigation systems that keep a virtual foot hovering above brake pedals.

It's why Andersky is concerned by suggestions that the U.S. Federal Motor Carrier Safety Administration might sacrifice plans to mandate Electronic Stability Controls – answering a presidential order ...Read the rest of this story