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Transportation Road and Rail

  • DETROIT, Nov 9- Car rental company Hertz Global Holdings Inc on Thursday reported a higher quarterly net profit as increased revenues and improved revenue management offset canceled reservations in hurricane-impacted parts of the United States. Estero, Florida- based Hertz reported third-quarter net income of $93 million, or $1.12 per share, up from $42...

  • WASHINGTON, Oct 31- A federal safety board on Tuesday blamed a deadly 2016 bus crash in California on two sleepy drivers and criticized the Trump administration for dropping a proposal to require that commercial drivers be screened for sleep apnea. "We are tired of seeing commercial drivers being tired," National Transportation Safety Board chairman Robert...

  • DETROIT, Nov 7- Electric delivery van maker Workhorse Group Inc said on Tuesday it will test its new lightweight N-Gen electric van in cities in Ohio and California as the race to develop mass-market electric delivery vehicles heats up. Burns did not disclose the exact locations for the tests, but said they would take place in several cities in Ohio and...

  • GREEN BAY, Wis. _ Schneider National Inc. on Tuesday reported third-quarter net income of $36.9 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share. Schneider National expects full-year earnings in the range of 92 cents to 97 cents per share.

  • PHOENIX _ Swift Transportation Co. on Monday reported third-quarter net income of $3.9 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share. Three analysts surveyed by Zacks expected $1.33 billion.

  • In its first quarterly earnings report since Swift Transportation Co and Knight Transportation Inc merged this year, the company reported third-quarter earnings of $3.9 million, or $0.04 per diluted share, down from $23.7 million, or $0.29 per diluted share in the year-ago period. Adjusting for one-time items, the Phoenix, Arizona- based company reported...

  • DETROIT, Nov 6- Car rental company Avis Budget Group Inc said on Monday that its quarterly net profit rose as strong summer demand in the Americas resulted in longer rentals and higher mileage revenue. The Parsippany, New Jersey- based company reported a net profit for the third quarter ending Sept. 30 of $245 million or $2.91 per share, up from $209 million or $2.28 a...

  • There have been 44 publicly announced freight movement and logistics deals within the U.S. so far this year, according to Thomson Reuters data, already topping the 38 deals announced in 2016. And the total is likely much higher because most deals are private, said Todd McMahon, managing director at investment bank Capstone Partners. And the trucking industry is...

  • There have been 44 publicly announced freight movement and logistics deals within the U.S. so far this year, according to Thomson Reuters data, already topping the 38 deals announced in 2016. Tacoma, Washington- based Interstate Distributor Co for $113 million. In October 2016, TransForce Inc acquired XPO Logistics' North American truckload operation, one of.

  • VAN BUREN, Ark. _ USA Truck Inc. on Thursday reported third-quarter net income of $409,000, after reporting a loss in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share. USA Truck shares have climbed 66 percent since the beginning of the year.

  • WASHINGTON, Oct 31- A federal safety board on Tuesday blamed a deadly 2016 bus crash in California on two sleepy drivers and criticized the Trump administration for dropping a proposal to require that commercial drivers be screened for sleep apnea. "We are tired of seeing commercial drivers being tired," National Transportation Safety Board chairman Robert...

  • GE explores sales of rail unit -WSJ

    CNBC's Dominic Chu reports that according to the Wall Street Journal, General Electric is looking at a possible sale of its transportation unit.

  • "It didn't look like a clean beat as one-time items distorted the bottom line," said Chris Horan, a transport specialist with Stifel. The Norfolk, Virginia- based railroad reported a best-ever quarterly operating ratio, a measure of operating expenses as a percentage of revenue. Third-quarter net income rose to $506 million, or $1.75 per share, from $460 million, or...

  • Oct 20- Regional U.S. railroad Kansas City Southern posted a better-than expected quarterly profit on Friday despite disruptions from Hurricane Harvey but may be impacted by the NAFTA negotiations as more than a quarter of its revenue comes from shipments between Mexico and the United States. Operating income of $234 million represented a 17 percent...

  • The railroad posted third-quarter operating income of $234 million, representing a 17 percent increase from the same quarter a year ago, even as it took a $19 million to $23 million hit from Hurricane Harvey, which devastated the U.S. Gulf Coast in August. After adjustments for one-time items, the railroad earned $1.35 per share, versus the $1.31 analysts...

  • The catastrophic hurricanes that hit Florida and Texas in August and September resulted in short-term costs for the company but also boosted freight rates due to tighter capacity. The Omaha, Nebraska- based trucking company posted third-quarter net income of $22.5 million, or 31 cents per share, up from $18.9 million, or 26 cents per share a year earlier.

  • The catastrophic hurricanes that hit Florida and Texas in August and September resulted in short-term costs for the company but also boosted freight rates due to tighter capacity. The Omaha, Nebraska- based trucking company posted third-quarter net income of $22.5 million, or 31 cents per share, up from $18.9 million, or 26 cents per share a year earlier.

  • SEATTLE, Oct 19- Samsung Electronics Co Ltd and U.S. truck fleet services company Omnitracs said on Thursday they are rolling out a tablet-software package to help smaller carriers comply with a looming federal regulation to log driver hours electronically. The package lets drivers that haul America's freight log hours on the road and then use the device for...

  • Rapid-fire changes to operations and cost cuts under newly appointed Chief Executive Hunter Harrison, and ensuing service delays, have drawn scrutiny from rail regulators and raised questions about how long it could take for his "precision scheduled railroading" strategy to fully take root. "Considering the effects of both Hurricane Irma and CSX's...

  • Complaints of longer transit times, unreliable switching operations, inefficient car routings and poor communications mounted as new Chief Executive Hunter Harrison implemented a controversial overhaul to revamp the railroad's network. "Considering the effects of both Hurricane Irma and CSX's well-publicized service disruptions, this is a solid...