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September 14, 2012
10:07 EDTWERN, CHRW, HTLD, JBHT, KNX, XPOWerner 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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April 23, 2014
10:53 EDTHTLDHeartland Express reports Q1 EPS 16c, consensus 20c
Reports Q1 revenue $224.48M, consensus $242.3M
April 21, 2014
16:29 EDTWERNWerner reports Q1 EPS 20c, consensus 21c
Reports Q1 revenue $492.02M, consensus $501.35M.
April 14, 2014
15:29 EDTCHRWC.H. Robinson May volatility elevated at 29 on sharp three-day rally
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10:52 EDTJBHTJ.B. Hunt results showed signs of recovery, says Wunderlich
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09:04 EDTKNXKnight Transportation raises Q1 EPS view to 22c-23c from 19c-21c
Consensus 20c. Knight Transportation CEO Kevin Knight said: ''There are several factors that contributed to our expectation of improved results for the first quarter of 2014. During the quarter we experienced greater demand for our capacity. This resulted in year over year improvement in revenue per tractor and growth in our brokerage business. We have also seen strength in the used equipment marketplace, which is resulting in better than expected gain on sale of tractors and trailers. As the trucking environment remains strong we continue to focus on improving production, growing our non-asset based businesses, recruiting and developing driving associates, providing industry-leading service, and intensifying our cost control efforts.''
08:37 EDTJBHTJ.B. Hunt says driver, equipment, insurance costs 'likely' to persist
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08:35 EDTJBHTJ.B. Hunt expands Simpson's title to Chief Marketing Officer
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08:33 EDTJBHTJ.B. Hunt reports Q1 EPS 58c, consensus 62c
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April 11, 2014
12:42 EDTCHRWOn The Fly: Analyst Upgrade Summary
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07:53 EDTCHRWC.H. Robinson upgraded to Buy from Hold at BB&T
April 10, 2014
09:20 EDTCHRWC.H. Robinson margins improving, says Cleveland Research
Cleveland Research's checks indicate C.H. Robinson's margins have improved due to increased volumes of spot/transactional freight and shippers accepting rate increases. The firm remains slightly below consensus for Q1 earnings estimates and slightly above consensus for Q2.

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