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News Breaks
September 14, 2012
10:07 EDTKNX, CHRW, JBHT, WERN, XPO, HTLDWerner leads trucking stocks lower after guidance miss
Trucking company Werner Enterprises (WERN) and other trucking companies are retreating after Werner provided significantly lower than expected third quarter earnings per share guidance. The company expects its earnings per share to be 33c-36c, compared with analysts' consensus estimate of 44c. The company cited several factors that are negatively affecting its profits, including cost increases for truck depreciation and higher driver pay. Also weighing on the company's bottom line are higher fuel costs, rising health care costs, and increased maintenance equipment costs, the company said. Meanwhile, in a note to investors earlier today Jefferies research analyst Peter Nesvold reduced his 2012 earnings estimates for six trucking companies, including Werner. The latter company's guidance confirms that the trucking industry is weak, Nesvold wrote. However, many other data points indicate that the trucking industry is struggling, the analyst believes. For example, Nesvold noted that a week ago Jefferies found that diesel consumption data had reached its lowest point since December 2009, while the firm noted last Monday that truckload utilization levels continue to drop. In addition to Werner, Nesvold reduced his estimates on the following companies: C.H. Robinson (CHRW), Heartland Express (HTLD), J.B. Hunt (JBHT), Knight Transportation (KNX), and XPO Logistics (XPO). The analyst maintained a Buy rating on XPO and Hold ratings on the rest of the stocks. In mid-morning trading, Werner slumped 8.03% to $21.77, CH Robinson declined 0.81% to $56.78, Heartland dropped 3.33% to $13.36, J.B. Hunt lost 1.08% to $51.95, Knight tumbled 5.08% to $14.56, and XPO inched down 0.19% to $15.55.
News For WERN;CHRW;HTLD;JBHT;KNX;XPO From The Last 14 Days
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July 29, 2015
20:01 EDTXPOFrench court rejects Elliott injunction of XPO Logistics merger, Reuters says
A French court has rejected Elliott Capital's requested injunction of XPO's post-purchase integration with Norbert Dentressangle, reports Reuters. "We will ... continue to use all of the legal options open to us," Elliott remarked, according to Reuters. Reference Link
July 28, 2015
16:33 EDTCHRWC.H. Robinson reports Q2 EPS 94c, consensus 86c
Reports Q2 revenue $3.55B, consensus $3.69B.
15:21 EDTCHRWNotable companies reporting after market close
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11:46 EDTHTLDHeartland Express took delivery of 270 new tractors in Q2
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11:44 EDTHTLDHeartland Express reports Q2 EPS 27c, consensus 26c
Reports Q2 revenue $191.68M, consensus $203.14M
July 22, 2015
09:04 EDTKNXKnight Transportation reports Q2 adjusted EPS 39c, consensus 37c
Reports Q2 revenue $301.82M, consensus $310.74M. "During the second quarter of 2015 we accrued $7.2M of expense related to expected settlement costs for two class action lawsuits involving employment-related claims in California and Oregon," president and CEO Dave Jackson said. "We have provided adjusted financial information that excludes these expenses from our results of operations. We believe the comparability of our results is improved by excluding these infrequent expenses that are unrelated to our core operations."
July 21, 2015
15:02 EDTKNXNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Coca-Cola (KO), consensus 60c... Boeing (BA), consensus $1.42... Abbott Laboratories (ABT), consensus 50c... Thermo Fisher Scientific (TMO), consensus $1.78... EMC (EMC), consensus 41c... Illinois Tool Works (ITW), consensus $1.28... St. Jude Medical (STJ), consensus $1.00... Northern Trust (NTRS), consensus 96c... Check Point Software (CHKP), consensus 95c... Polaris Industries (PII), consensus $1.58... Interpublic Group (IPG), consensus 27c... New York Community Bancorp (NYCB), consensus 26c... B/E Aerospace (BEAV), consensus 76c... Owens Corning (OC), consensus 54c... Knight Transportation (KNX), consensus 37c.
08:03 EDTJBHTJ.B. Hunt weakness creates buying opportunity, says Bernstein
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July 20, 2015
16:06 EDTWERNWerner sees FY15 capex $300M-$325M
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16:05 EDTWERNWerner says freight demand continues to be stronger than prior five years
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16:03 EDTWERNWerner reports Q2 EPS 44c, consensus 42c
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15:01 EDTWERNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $3.78... Canadian National Railway (CNI), consensus $1.05... Crown Holdings (CCK), consensus $1.01... Zions Bancorp (ZION), consensus 38c... Hexcel (HXL), consensus 61c... Brown & Brown (BRO), consensus 44c... Steel Dynamics (STLD), consensus 22c... Werner (WERN), consensus 42c.
08:57 EDTJBHTJ.B. Hunt price target lowered to $98 from $106 at Susquehanna
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