Fleet Advantage expands to serve for-hire fleets
Fleet Advantage announced it recently expanded its asset-management business focus beyond private-fleet carriers to the for-hire carrier market.
read more
...Read the rest of this story
Earnings Watch: Navistar Third Quarter Loss Grows, Revenue Declines
Navistar International Corp. (NYSE: NAV) released fiscal third quarter financials on Thursday morning showing its losses grew in the third quarter of the year while revenue fell 18%, following news on Tuesday that Volkswagen is taking a minority interest in the Illinois-based company.
The truck and engine manufacturer reported a net loss of $34 million, or 42 cents per share, for the three months ending July 31, compared to a third quarter 2015 net loss of $28 million, or 34 cents per share, as it faced what it called “tougher market conditions, particularly in the heavy segment.”
Revenue fell to $2.1 billion from $2.5 billion a year earlier, which the company mainly attributed to lower year-over-year chargeouts in the company's core markets, Class 6-8 trucks and buses in the U.S. and Canada, which was affected by softer industry conditions, primarily in the Class 8 market. (Chargeouts are typically defined as trucks that have been invoiced to customers, with units held in dealer inventory.)
A consensus forecast by analysts was expecting a loss of 14 cents per share with revenue of $2.18 billion.
Despite the wider loss, Navistar said it achieved $32 million in structural cost reductions during the third quarter, raising year-to-date structural savings to $145 million. Combined with product and purchasing cost savings, the company's total year-to-date costs savings exceed $300 million.
Third quarter 2016 earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $96 million versus $106 million in the same period one year ago. This more recent quarter included $36 million in adjustments, including $19 million of pre-existing warranty charges and $17 million in asset impairments and restructuring costs, compared to adjustments of $23 million in the third quarter of 2015.
Excluding these items, adjusted EBITDA was $132 million in the third quarter 2016 compared to $129 million in the same period one ...Read the rest of this story
Volvo testing autonomous FMX in Swedish mine
McLeod teams with TCA and inGauge
McLeod Software announced it has teamed with the Truckload Carriers Association (TCA) and inGauge to make participation in the TCA's Benchmarking program easy for current McLeod Software customers.
read more
...Read the rest of this story
DHL rolls out global augmented reality program
DHL Supply Chain, part of Deutsche Post DHL Group, announced it is rolling out the next phase of its Vision Picking Program following a trial of the augmented reality technology in the Netherlands.
read more
...Read the rest of this story
Werner Enterprises Celebrates Driver Appreciation Week during 60th Anniversary
A Glimpse of Chrome & Elegance 2017
Every year, Fleet Owner gets a chance to talk with Roger Snider – one the premier photographers working in and around the truck industry – about his annual show truck calendar, Chrome & Elegance; a creation now in its fifth year, forged in collaboration with Rockwood Products.
read more
...Read the rest of this story