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News Breaks | | | | September 14, 2012 | | 10:07 EDT |  | WERN, CHRW, HTLD, JBHT, KNX, XPO | Werner 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. | |
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News For WERN;CHRW;HTLD;JBHT;KNX;XPO From The Last 14 Days Check below for free stories on WERN;CHRW;HTLD;JBHT;KNX;XPO the last two weeks. |
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| May 14, 2013 | | 07:17 EDT |  | WERN | BofA/Merrill to host a conference
 Subscribe for More Information | | | May 13, 2013 | | 10:09 EDT |  | CHRW | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 06:44 EDT | | CHRW | C.H. Robinson downgraded to Neutral from Buy at UBS
Subscribe for More Information | | | May 9, 2013 | | 15:31 EDT | | CHRW | C.H. Robinson at lows, down more than 2% after cutting dividend to 33c per share
| | | 15:29 EDT | | CHRW | C.H. Robinson cuts dividend 2c to 33c per share
Subscribe for More Information | | | May 8, 2013 | | 09:45 EDT |  | CHRW | C.H. Robinson falls sharply after earnings miss
Subscribe for More Information | | | 07:28 EDT |  | CHRW | C.H. Robinson price target lowered to $48 from $55 at FBR Capital
Subscribe for More Information | | | May 7, 2013 | | 16:30 EDT | | XPO | XPO Logistics reaffirms FY13 outlook
Subscribe for More Information | | | 16:27 EDT | | XPO | XPO Logistics acquires Interide Logistics for $3.1M
On May 6, 2013, the company acquired substantially all of the operating assets of Interide Logistics LC, a freight brokerage business with trailing 12 months revenue of approximately $28M as of March 31. The purchase price was $3.1M in cash and $600,000 in XPO common stock, with no assumption of debt. The acquisition is expected to be immediately accretive to earnings. | | | 16:26 EDT |  | CHRW | C.H. Robinson reports Q1 EPS 64c, consensus 69c
Subscribe for More Information | | | | 16:26 EDT | | XPO | XPO Logistics reports Q1 EPS (85c), consensus (76c)
Reports Q1 revenue $114M, consensus $135.25M. | |
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