Profits at large public fleets continue to swell

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Some of the country’s largest carriers, traded publicly on the New York Stock Exchange, continue to see soaring revenues and profits in 2018, according to third quarter earnings reports issued by the companies in recent weeks.

The strong numbers stem from a booming freight economy that has tested industry capacity and spurred big rate hikes.

Landstar, one of the country’s largest owner-operator carriers, has seen its revenue climb by $840 million through the first nine months of 2018 when compared to the same period a year ago. Likewise, the company’s net income (a measure of profit) has grown $75 million in the same stretch. Landstar’s revenue through 2018’s first three quarters was $3.43 billion and its income was $187 million — up from $2.59 billion and $112 million a year ago, respectively.

Revenue at U.S. Xpress grew from by more than $200 million, to $1.33 billion through 2018’s first nine months. It also saw a turnaround in profit, posting $17.9 million in net income, compared to a $13.6 million loss through the first three quarters of 2017.

Werner’s revenue climbed $260 million, to $1.81 billion. Net income climbed more than $50 million, to $113.6 million.

Schneider’s revenue grew by nearly $700 million, to $3.66 billion. Its income soared by $78 million, to $184.1 million.

Lastly, J.B. Hunt’s revenue climbed by more than $1 billion through the first nine months of 2018 compared to the same period a year ago. Revenues for the company were $6.3 billion, and it reported $401 million in net income — up $100 million from the same period in 2017.

For more numbers reported by publicly traded carriers, see Overdrive sister site CCJ’s report at this link.