How Ritchie Bros. reaches customers in 100-plus countries
A walk on the high-end
No visit to the annual Washington Auto Show is complete without a look at some of the high-end luxury cars from around the world, many of which are also high-end "super cars" like a modified 2015 McLaren 650 S Spider you'll meet in this gallery that sports a 765 hp gasoline engine that delivers 623 ft.-lbs. of torque. We'd expect a lot of speeding tickets to come with that particular model. (All photos by Sean Kilcarr for Fleet Owner)
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Nissan at the 2017 Washington Auto Show
Nissan Motor Co. brought a cross-section of its pickup trucks and vans to the 2017 Washington Auto Show, including its compact NV200 cargo van; a van platform General Motors began using several years ago for its City Express model, via a partnership deal with Nissan. (All photos by Sean Kilcarr for Fleet Owner)
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Old Dominion Freight Line Announces Earnings Per Diluted Share of $0.83 for the Fourth Quarter of 2016
Michelin and Bridgestone Also Increase Tire Prices
<img width="150" src="http://www.automotive-fleet.com/fc_images/news/m-brm3-1.jpg" border="0" alt="
Photo: Bridgestone
">Photo: Bridgestone
">Michelin North America and Bridgestone Americas Tires have both announced price increases for each company's tire lines as a result of rising material costs and other market conditions.
Michelin will increase prices up to 8% for its passenger, heavy-truck, earthmover, industrial-handling, agriculture and two-wheel segments across all brands in North America.
The company says the increase will be implemented separately by individual segments. Customers will be notified directly with specific details, but Michelin didn't say how quickly it will roll out the price hikes.
Michelin says this represents its first increase since 2012.
Bridgestone Americas Tires is also increasing prices by 8% across a range of commercial and non-commercial tire lines. The increases will also affect the company's retread products and tubes in North America.
The new pricing will take effect on March 1, 2017, and will vary by business unit and product line.
Both companies join several others that have announced price increases including Cooper Tire, Goodyear, and Yokohama.
Related: Yokohama Increases All Tire Prices
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Earnings Watch: Landstar, Celadon, C.H. Robinson, Roadrunner
Earnings season continued this week with one carrier reporting record numbers, another's were lower, while a third-party logistics provider saw a slightly higher profit for all of last year while a fourth fleet said it will be delayed in announcing its numbers due to an investigation into its accounting practices.
Landstar Reports Record Revenue, Earnings Per ShareLandstar System Inc. reported net income of $39.6 million, or 94 cents per share, in its fiscal 2016 14-week fourth quarter period on revenue of $893 million. This compares to net income of $37.9 million, or 88 cents per share, on revenue of $849 million in the 2015 13-week fiscal fourth quarter.
Revenue and earnings per share for the 2016 fourth quarter are the highest in Landstar history, according to the asset-light company, while earnings per share beat a consensus estimate from analysts by 7 cents.
Gross profit, which the company defines as revenue less the cost of purchased transportation and commissions to agents, was $132.8 million in the 2016 fourth quarter compared to $126.4 million a year earlier. The company says that's the highest of any quarter in the last 10 years.
Operating income was $63.8 million in the 2016 fourth quarter compared to $62.6 million in the 2015 fourth quarter
“I am very pleased with Landstar's performance in the 2016 fourth quarter given the challenges of a low growth macro environment and more readily available capacity,” said President and CEO Jim Gattoni. The number of loads hauled via truck in the 2016 fourth quarter increased 11% over the 2015 fourth quarter, while the number of loads hauled via railroads, ocean cargo carriers and air cargo carriers increased 6% over the 2015 fourth quarter, he said.
Truck transportation revenue hauled by independent contractor drivers and truck brokerage carriers in the 2016 fourth quarter was $832.2 million, or 93% of ...Read the rest of this story