Chip giant Advanced Micro Devices, Inc. (NASDAQ:AMD) has spent 2017 steadily rolling out new products that offered impressive performance for personal computers, servers, and cloud data centers. In the fourth quarter, that translated into overall revenue growth of 33% and net income of $61 million.
Truckload carrier Knight-Swift Transportation Tuesday reported the biggest gain in earnings seen so far this earnings season, while third-party logistics provider C.H Robinson Worldwide reported a more modest increase in profits.
Knight-Swift Transportation Holdings Inc. reported fourth quarter 2016 net income skyrocketed more than 1,900% from the same time a year ago, totaling $447.6 million, or $2,50 per share, a more than 800% increase.
Total revenue jumped 370% to nearly $1.36 billion. Operating income also rose more than 300% to $143.8 million.
Included in the results is an income tax benefit of $364.2 million representing the company's estimate of the net impact of the Tax Cuts and Jobs Act enacted by Congress during the quarter.
Also included in the results for the quarter are $10.3 million of amortization expense related to the intangible assets recorded in the 2017 merger between Knight and Swift and a $1.9 million charge for legal reserves related to settlement of certain class action lawsuits for Knight.
Excluding these special items, adjusted earnings per diluted share for the fourth quarter were 52 cents compared with 29 cents a year earlier.
For all of 2017, net income increased more than 400% to $484.3 million while revenue moved nearly 117% higher to more than $2.4 billion.
The company noted as it reported numbers that include results after the Sept. 8, 2017, merger with Swift, “comparisons to prior periods are not meaningful.”
“Our results for our first full quarter after the merger were encouraging, reflecting favorable market developments in freight demand as well as our early progress on synergies, sharing best practices between our brands and cost control,” said Dave Jackson, CEO. "The freight environment continued to strengthen in the fourth quarter and showed more staying power than is typical into late December and January.”
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Nikola spent 12 months considering 30 site locations in nine states, before settling on Buckeye, Arizona. Photo: Nikola Motor Company
">Nikola Motor Company has selected Buckeye, Arizona, for its hydrogen-electric semi-truck manufacturing headquarters facility.
The 1-million-square-foot facility will be located on the west side of Phoenix and could bring $1 billion in capital investment to the region by 2024, according to Nikola. Factors cited in its decision include the state's pro-business environment, engineering schools, educated workforce, and a geographic location that provides direct access to major markets.
Nikola spent 12 months considering 30 site locations in nine states before settling on the Phoenix suburb.
“Arizona has the workforce to support our growth and a governor that was an entrepreneur himself. They understood what 2,000 jobs would mean to their cities and state,” said Trevor Milton, CEO and founder, Nikola Motor Company. “We will begin transferring our R&D and headquarters to Arizona immediately and hope to have the transition completed by October 2018.”
Development of the manufacturing plant on a 500-acre parcel of land is projected to begin by the end of 2019. The site is at one of the entrances to Douglas Ranch/Trillium, a new master planned community being developed by El Dorado Holdings and JDM Partners; this community is projected to ultimately be home to more than 300,000 residents.
“Conceived as the prototype smart city, Trillium at Douglas Ranch aligns well with Nikola Motors' groundbreaking technology,” said Jerry Colangelo, co-founder and partner with JDM Partners. “We look forward to working with everyone here to bring Nikola's innovative products and their 2,000 professionals into this city of the future, creating a tremendous economic opportunity for Arizona.”
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For-hire trucking companies from across North America are being recognized by TCA and CarriersEdge for providing exemplary work environments for their drivers and independent contractors. Photo via TCA
">The Truckload Carriers Association and CarriersEdge have announced the 20 Best Fleets to Drive For in 2018, recognizing these fleets for providing exemplary work environments for their truck drivers and independent contractors.
Three companies – Bison Transport, Central Oregon Truck Company, and TransPro Freight Systems – have achieved the milestone of five consecutive years on the Best Fleets list.
“It's not easy to be named one of the Best Fleets to Drive For," said John Lyboldt, TCA president. "It simultaneously requires commitment to an individual carrier's operations and a vision for the future of the industry as a whole."
Truckload companies operating 10 or more trucks had to receive a nomination from at least one of their company drivers or owner-operators. CarriersEdge then interviewed human resources representatives and executives of the nominated fleets regarding their corporate directions, policies, and programs.
The fleets were evaluated in a variety of categories, such as total compensation package, health benefits, pension plans, professional development opportunities, and career path/advancement opportunities, among other criteria. Driver feedback was compared with management's comments and incorporated into the final score, resulting in the selection of this year's winners and honorable mentions.
"Creative new programs from the Top 20 companies received high marks from drivers," said Jane Jazrawy, co-founder of CarriersEdge. "The average satisfaction level among the Top 20 companies was over 90%, and the average turnover among these companies was under 40%."
Here are the 2018 Top 20 Best Fleets to Drive For:
| American Central Transport | Kansas City, Mo. | Halvor Lines | Superior, Wis. |
| Bison Transport | Winnipeg, Manitoba, Canada | Keller Logistics Group | Defiance, Ohio |
| Boyle Transportation | Billerica, Mass. | Maverick Transportation | North Little Rock, Ark. |
| Central Oregon Truck Company | Redmond, Ore. | Motor Carrier Service | Northwood, Ohio |
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Jeff Sather will assume the role of president and CEO of Freightliner Customer Chassis Corp. effective Feb. 1. Photo: Daimler Trucks North America
">Jeff Sather has accepted the position of president and chief executive officer of Freightliner Custom Chassis Corporation, a Daimler Trucks North America subsidiary.
Sather succeeds David Carson in the position and is tasked with leading all operations of the custom vehicle manufacturer. Carson has moved to Western Star Trucks as the company president and is also a member of the DTNA operating committee and the chief diversity officer.
Sather was previously the financial business partner for DTNA's operations and specialty vehicles group as well as the company's aftermarket division. He began his career at DTNA in 2001, with previous experience in the automotive business. Sather will report to Jeff Allen, senior vice president of operations and specialty vehicles.
Sather has a Master's degree in business administration from Seattle University and a Bachelor's degree in business administration from the University of Washington. He began his career at DTNA in 2001, with previous experience in the automotive business. Sather will report to Jeff Allen, senior vice president of operations and specialty vehicles.
“We are pleased to welcome Jeff to the FCCC leadership team and look forward to the ongoing success of the brand and its favorable position in the markets its chassis are manufactured for,” said Allen.
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At a press conference during Heavy Duty Aftermarket Week Rob Phillips, president and COO of Phillips Industries, detailed historical milestones in the formation and development of the company into an innovative commercial vehicle electrical and air brake components and global supplier. Photos: Phillips Industries
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...Read the rest of this storyNTSB has issued six safety recommendations regarding the loading of propane tanker trucks. Image: NTSB
">Its investigation of a propane tanker accident has led the National Transportation Safety Board to identify certain safety issues that while unrelated to the probable cause of the single-vehicle crash, nonetheless “pose a substantial risk to the driving public,” according to NTSB.
The NTSB report on the March 11, 2016 crash, issued on Jan. 30, revealed issues involving the loading of the 10,500-gallon propane tank semitrailer, the inspection and testing of the tank, and the qualification and training of cargo tank inspectors.
The crash, near Stroud, Alabama, seriously injured the truck driver. NTSB ruled that the trucker "overcorrected after encroaching into the opposing traffic lane, which, in part because of excessive speed, led to the loss of vehicle control that preceded the crash.
The semitrailer separated from the tractor and the tank subsequently struck a rock, which breached the tank, which resulted in a fire.
NTSB said that the risk presented by the issues identified in its investigation prompted it to issue six safety recommendations:
