YRC Worldwide and Arkansas Best Could Surprise This Earnings Season
October 26 2011 - 8:16AM
Marketwired
Despite widespread worry of a double dip recession, trucking
companies have been performing admirably in recent quarters.
Trucking companies have been posting improving earnings in part
because capacity remains in short supply even though freight
volumes have flattened. The Bedford Report examines the outlook for
companies in the trucking industry and provides equity research on
YRC Worldwide, Inc. (NASDAQ: YRCW) and Arkansas Best Corporation
(NASDAQ: ABFS). Access to the full company reports can be found at:
www.bedfordreport.com/YRCW www.bedfordreport.com/ABFS
Bob Costello, the chief economist for the American Trucking
Association (ATA) said during a panel discussion at the ATA's
annual Management Conference & Exhibition that "trucking's
fundamentals still remain good, and the best times are still ahead
of us in trucking." With supply and demand for trucking "close to
equilibrium," fleet businesses should continue to outperform the
macro economy "as long as manufacturing continues to do well," he
added.
As for the general economy slipping into a double dip recession,
Costello said: "We've never had a recession that trucking didn't
predict, and it's not predicting one now."
The Bedford Report releases investment research on the trucking
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The ATA -- whose members include FedEx Corp., UPS, Werner
Enterprises Inc. and YRC Worldwide Inc -- released a statement
earlier this month arguing that the group "is on sound footing,
and, as an industry, we remain optimistic about a continuing,
though slower than expected, recovery."
Despite an onslaught of negative economic data the last month,
the turnover rate for over-the-road truck drivers is at its highest
point since the second quarter of 2008, according to a report by
The American Trucking Association (ATA). Meanwhile the not
seasonally adjusted truck tonnage index, which represents the
change in tonnage actually hauled by fleets before any seasonal
adjustment, equaled 123.8 in August, which was 10.9% above the
previous month.
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