Category: Trucking News

Trucking News
7 Feb by

Big Brown goes long on solar and other power

ATLANTA, GA--From old-fashioned pedal power and electric-assisted bicycles in dense urban areas like London and Hamburg to electric and hybrid electric vehicles in the U.S. and Canada., and natural gas, renewable natural gas and propane globally, UPS is putting sustainability innovation into action, all over the world. Today, Big Brown announced plans to significantly escalate its investment in solar energy as an owner/operator of solar assets starting with at least eight of its facilities in the U.S. The installations will be completed by the end of 2017. The estimated $18-million investment will provide a nearly five-fold increase in the amount of power generated from solar at UPS facilities today. With more than 2,580 UPS facilities worldwide, UPS is ideally positioned to expand its investment in renewable energy. UPS expects additional solar deployments to occur over the next several years as it identifies suitable opportunities. ...Read the rest of this story
Trucking News
7 Feb by Vitaliy Dadalyan

Earnings Watch: YRC Trims Quarterly Loss, USA Truck Moves Into Red

The parent of less-than-truckload carrier YRC Freight and others managed to reduce its losses in the final quarter of 2016 while a truckload carrier reported a loss for both the final three months of last year and all of 2016.

YRC Worldwide Inc. reported a net loss of $7.5 million, or 23 cents per share, compared to a net loss of $23.5 million, or 73 cents per share a year earlier. Revenue was nearly the same during the two periods at $1.14 billion.

Operating income for the final quarter totaled $14.9 million compared to an operating loss of $15.3 million in the final three months of 2015, which included a $28.7 million non-union pension settlement charge.

“In the fourth quarter 2016, year-over-year tonnage per day was up at YRC Freight and flat at the regional segment,” said James Welch, CEO. “However, YRC Freight's year-over-year revenue per hundredweight declined, which impacted its ability to offset cost increases during the quarter.”

The company's results in 2016 from the year before were better with net income of $21.5 million, or 65 cents per share, versus a 2015 net loss of $700,000, or 2 cents per share. Revenue last year slipped to $4.7 billion from $4.83 billion a year earlier.

In contrast, 2016 operating income improved to $124.3 million from $93 million a year earlier, which the company said was the highest since 2006.

Last year, YRC said it invested $253 million in its business, mainly in the form of tractors, trailer and technology-- nearly $13.4 million more than it did in 2015. The company said during the quarter it also paid down its long-term debt to its lowest level since 2005.

The company's nationwide service, YRC Freight, barely reported an operating loss while its operating ratio fell from 102.9% a year earlier to 100% in the most recent quarter while ...Read the rest of this story

Trucking News
7 Feb by

Temporary delay in U.S. driver training bill

WASHINGTON, DC -- Thanks to a “Regulatory Freeze Pending Review” issued by the White House on January 20, the Federal Motor Carrier Safety Administration has “temporarily delayed” the effective date of its final rule on minimum entry-level CDL training requirements until March 21. However, while the rule's effective date has been extended, the agency did not adjust the rule's all-important compliance date— which remains February 7, 2020. In practical terms, that means this delay is only a move on paper. ...Read the rest of this story
Trucking News
Trucking News
7 Feb by

Indo-Canadian Chamber and Ontario truckers get a new thing going

TORONTO-- The Indo-Canada Chamber of Commerce (ICCC) and the Ontario Trucking Association (OTA) signed a memorandum of understanding (MoU) which enables both groups to forge a mutually beneficial relationship for their respective members. Primarily, the agreement will enhance the relationship between OTA member carriers and transportation companies in the South Asian community. ...Read the rest of this story
Trucking News
Trucking News