Kenworth will provide a $1,000 savings to fellow National Ready Mixed Concrete Association (NRMCA) members on qualifying purchases of new Kenworth T880, W900, T440 or T470 vocational trucks through the association's M2M Benefits Program.
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...Read the rest of this storyThe LoadHandler Power Products starter and alternator line now offers coverage of Chevrolet and GMC light- and medium-duty vehicles.
This latest product launch will include starters and alternators for 2002-2007 Chevrolet Tahoe, 2002-2007 Chevrolet Suburban, 2002-2007 Chevrolet Silverado/GMC Sierra 1500HD/2500HD, 2002-2007 GMC Sierra 3500/3500HD, 2005-2010 Chevrolet Express/GMC Savana, and 2006 Yukon/Yukon XL vehicles.
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...Read the rest of this storySaia said it was encouraged by shipment and tonnage per workday trends in the fourth quarter. Photo: Evan Lockridge
" >Two less-than-truckload fleets and a multi-modal and logistics provider reported slightly lower fourth quarter earnings.
Saia Declines But Moving Forward With Expansion PlansSaia Inc. net income fell 9.1% from a year ago to $10.3 million, or 40 cents per share, compared to 45 cents per share a year earlier. That was 3 cents less than a consensus estimate from analysts. This was despite revenue increasing 4.4% to $300.2 million. Operating income fell 2.4% to $17.2 million, as the Georgia-based less-than-truckload carrier faced higher insurance costs and expenses related to investments in the fleet.
During the quarter LTL shipments per workday increased 2.1% from the 2015 quarter while LTL tonnage per workday increased 1.4% and LTL revenue per hundredweight increased 5.1%.
Saia said it was encouraged by shipment and tonnage per workday trends in the fourth quarter. Photo: Evan Lockridge
" width="300">"We were encouraged by shipment and tonnage per workday trends in the fourth quarter and our results reflected some of the same themes we saw in the business all year," said Saia President and CEO Rick O'Dell. "We continued our very positive pricing actions and saw fourth quarter contractual renewals average 5.2%."
Saia full-year 2016 results showed net income fell 12.7% from 2015 to $48 million as earnings per share slid to $1.87 from $2.16. Revenue was essentially unchanged at $1.2 billion.
In contrast to the fourth quarter, Saia operating metrics for all of last year were mixed, with LTL shipments down 0.7% and LTL tonnage down 2.4%. However, LTL revenue per hundredweight was up 3.2%.
According to O'Dell, Saia continued to see productivity improvements across its network, which offset some ongoing cost challenges.
“The year-over results were impacted by a couple of trends. First of all, depreciation and amortization expense was up 17.2% in the fourth quarter, a reflection of the significant investments we are making in ...Read the rest of this story
