Key Takeaways Old Dominion's November revenue per day dropped 4.4% due to a 10% decline in LTL tons per day.ODFL saw a 9.4% drop in LTL shipments per day and a 0.6% dip in weight per shipment in November 2025. Quarter to date, LTL revenue per hundredweight rose 5.9%, excluding fuel surcharges, it rose 5.2%.Old Dominion Freight Line, Inc. (ODFL) has provided an update on the performance of its less-than-truckload (LTL) segment, which is its primary revenue generator, for November.Old Dominion's revenue per d ...

Core Viewpoint - Landstar System's recent earnings report indicates a mixed performance, with earnings per share missing estimates while revenues slightly exceeded expectations, leading to questions about future trends [2][3]. Financial Performance - Q3 2025 earnings per share were $1.22, missing the Zacks Consensus Estimate of $1.24 and down 13.5% year over year [2]. - Revenues reached $1.21 billion, slightly surpassing the Zacks Consensus Estimate of $1.20 billion but declining 0.4% year over year [2]. - Operating income fell 58.3% to $26.32 million compared to the prior-year quarter [2]. - Total costs and expenses increased by 2.4% to $1.18 billion [2]. Segment Performance - Truck transportation segment revenues, which account for 90.4% of total revenues, were $1.08 billion, down 0.1% year over year and below expectations of $1.09 billion [3]. - Rail intermodal revenues increased by 12.8% from Q2 2024 to $23.66 million, exceeding expectations of $20.8 million [3]. - Revenues from ocean and air-cargo carrier segments fell 5.3% year over year to $72.27 million, below expectations of $77.8 million [4]. - Other revenues decreased by 22.9% to $19.57 million, also below expectations of $20.6 million [4]. Liquidity and Shareholder Returns - As of the end of Q3 2025, Landstar had cash and cash equivalents of $375.19 million, up from $359.23 million in the previous quarter [5]. - Long-term debt decreased to $47.70 million from $54.67 million in the prior quarter [5]. - During Q3 2025, Landstar repurchased 308,709 shares for $40.6 million and has authorization to buy an additional 1,552,813 shares [6]. - A quarterly cash dividend of 40 cents per share was announced, payable on December 9, 2025 [6]. Market Sentiment and Outlook - There has been a downward trend in fresh estimates for Landstar, leading to a Zacks Rank of 4 (Sell) [9]. - The overall VGM Score for Landstar is C, indicating a middle position for value investors [8]. - Comparatively, Knight-Swift Transportation Holdings, a peer in the same industry, reported a revenue increase of 2.7% year over year, highlighting a contrasting performance within the sector [10].

Core Insights - Knight-Swift Transportation (KNX) is experiencing significant pressure from rising expenses and tariff-related issues, making it less appealing for investors [1][8] Financial Performance - The Zacks Consensus Estimate for KNX's earnings for the December quarter has been revised downward by 20.8% over the past 60 days, and for 2026, the estimate has been cut by 11.3% [2] - KNX's share price has decreased by 21.1% year-to-date, compared to a 20.3% decline in the Transportation - Truck industry [3] Industry Ranking - KNX holds a Zacks Rank of 5 (Strong Sell), placing it in the bottom 6% of Zacks Industries, which indicates a bearish outlook [5] - The Transportation industry has a Zacks Industry Rank of 227 out of 243, reflecting overall weakness in the sector [5] Operational Challenges - The company is facing increased operating expenses, which rose by 4.5% year-over-year in Q3 2025 [6] - Labor costs, which account for 40% of total operating costs, increased by 4% year-over-year, while fuel expenses surged by 4% to $221.8 million [7] Market Environment - KNX is navigating a volatile macro environment characterized by economic uncertainty, shifting tariff regulations, and geopolitical tensions, which are impacting investment decisions and operational risks [9]

Core Viewpoint - The Zacks Transportation-Truck industry is currently facing significant challenges due to supply-chain disruptions, high inflation-driven interest rates, and a shortage of truck drivers, yet some companies are demonstrating resilience through growth strategies and operational efficiency [1]. Industry Overview - The Zacks Transportation-Truck industry consists of truck operators that transport freight across North America, offering various services including full-truckload and less-than-truckload (LTL) services, as well as logistics and intermodal services [2]. Current Trends - Supply-chain disruptions and weak freight rates are negatively impacting the industry, with the Cass Freight Shipments Index declining by 5.4% year over year in September, marking a continuous decline for seven months [3]. - Companies are focusing on cost-cutting measures to improve productivity and efficiency in response to high material, labor, and transportation costs, as well as tariffs that pressure margins [4]. - The trucking industry is projected to face a shortage of over 160,000 drivers by 2030, exacerbating supply-chain challenges [5]. - Tariff policies from the current administration are increasing costs and disrupting supply chains, creating uncertainty for investors [6]. Industry Performance - The Zacks Transportation-Truck industry ranks 239 out of 244 Zacks industries, placing it in the bottom 2% and indicating poor near-term prospects [7][8]. - The industry's earnings estimate for 2025 has decreased by 30.9% year over year, reflecting a loss of confidence among analysts regarding earnings growth potential [9]. - Over the past year, the industry has declined by 31.4%, underperforming the S&P 500's increase of 14.2% and the broader transportation sector's decline of 13.9% [10]. Valuation Metrics - The industry is currently trading at an EV-to-EBITDA ratio of 11.82X, compared to the S&P 500's 18.24X and the sector's 10.03X, with historical trading ranges between 7.86X and 16.3X over the past five years [13]. Notable Companies - J.B. Hunt Transport Services (JBHT) is recognized for its diverse transportation services and has seen a year-over-year share price increase of 14.5%, currently holding a Zacks Rank of 3 (Hold) [16][17]. - Saia, which provides regional and interregional LTL services, also holds a Zacks Rank of 3, with a 2% upward revision in the Zacks Consensus Estimate for 2025 earnings over the past 60 days [19].

Core Insights - Forward Air (FWRD) reported a quarterly loss of $0.52 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.13, marking an earnings surprise of -300.00% [1] - The company's revenues for the quarter ended September 2025 were $631.76 million, missing the Zacks Consensus Estimate by 1.98% and down from $655.94 million a year ago [2] - Forward Air shares have declined approximately 43.8% year-to-date, contrasting with the S&P 500's gain of 15.1% [3] Financial Performance - Over the last four quarters, Forward Air has only surpassed consensus EPS estimates once [2] - The current consensus EPS estimate for the upcoming quarter is -$0.20 on revenues of $640.85 million, and for the current fiscal year, it is -$1.40 on revenues of $2.52 billion [7] Industry Outlook - The Transportation - Truck industry, to which Forward Air belongs, is currently ranked in the bottom 5% of over 250 Zacks industries, indicating a challenging environment [8] - Empirical research suggests that the performance of stocks is closely tied to trends in earnings estimate revisions, with the current unfavorable trend resulting in a Zacks Rank 4 (Sell) for Forward Air [5][6]

Core Insights - ArcBest reported quarterly earnings of $1.46 per share, exceeding the Zacks Consensus Estimate of $1.37 per share, but down from $1.64 per share a year ago, indicating an earnings surprise of +6.57% [1] - The company generated revenues of $1.05 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.84%, although this is a slight decrease from $1.06 billion year-over-year [2] - ArcBest shares have declined approximately 23.5% year-to-date, contrasting with the S&P 500's gain of 15.1% [3] Earnings Outlook - The future performance of ArcBest's stock will largely depend on management's commentary during the earnings call and the subsequent revisions of earnings estimates [4][5] - The current consensus EPS estimate for the upcoming quarter is $1.13 on revenues of $987.81 million, and for the current fiscal year, it is $4.40 on revenues of $4.01 billion [7] Industry Context - The Transportation - Truck industry, to which ArcBest belongs, is currently ranked in the bottom 5% of over 250 Zacks industries, suggesting a challenging environment for the company [8]

Core Insights - Werner Enterprises reported a quarterly loss of $0.03 per share, missing the Zacks Consensus Estimate of $0.15, and a decline from earnings of $0.15 per share a year ago, resulting in an earnings surprise of -120.00% [1] - The company posted revenues of $771.5 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 0.45% and showing an increase from $745.7 million year-over-year [2] - Werner shares have decreased by approximately 25.1% since the beginning of the year, contrasting with the S&P 500's gain of 17.2% [3] Earnings Outlook - The future performance of Werner's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4] - The current consensus EPS estimate for the upcoming quarter is $0.23 on revenues of $787.28 million, and for the current fiscal year, it is $0.36 on revenues of $3.02 billion [7] Industry Context - The Transportation - Truck industry, to which Werner belongs, is currently ranked in the bottom 3% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Werner's stock performance [5]

Core Insights - XPO reported quarterly earnings of $1.07 per share, exceeding the Zacks Consensus Estimate of $1.01 per share, and showing an increase from $1.02 per share a year ago, resulting in an earnings surprise of +5.94% [1] - The company generated revenues of $2.11 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.12% and up from $2.05 billion year-over-year [2] - XPO has consistently outperformed consensus EPS estimates over the last four quarters, achieving this four times [2] Earnings Outlook - The sustainability of XPO's stock price movement will largely depend on management's commentary during the earnings call and future earnings expectations [3][4] - Current consensus EPS estimate for the upcoming quarter is $0.84 on revenues of $1.94 billion, and for the current fiscal year, it is $3.64 on revenues of $8.04 billion [7] Industry Context - The Transportation - Truck industry, to which XPO belongs, is currently ranked in the bottom 3% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact XPO's performance [5] Stock Performance - XPO shares have declined approximately 4.9% since the beginning of the year, contrasting with the S&P 500's gain of 17.2% [3] - The current unfavorable estimate revisions trend has resulted in a Zacks Rank 4 (Sell) for XPO, suggesting expected underperformance in the near future [6]

分组1 - Old Dominion Freight Line (ODFL) reported quarterly earnings of $1.28 per share, exceeding the Zacks Consensus Estimate of $1.22 per share, but down from $1.43 per share a year ago, representing an earnings surprise of +4.92% [1] - The company posted revenues of $1.41 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.70%, but down from $1.47 billion year-over-year [2] - Old Dominion has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates three times as well [2] 分组2 - The stock has underperformed the market, losing about 22.9% since the beginning of the year compared to the S&P 500's gain of 17.2% [3] - The current consensus EPS estimate for the coming quarter is $1.09 on revenues of $1.35 billion, and for the current fiscal year, it is $4.79 on revenues of $5.54 billion [7] - The Zacks Industry Rank for Transportation - Truck is currently in the bottom 3% of over 250 Zacks industries, indicating a challenging outlook for the industry [8]

分组1 - Landstar System (LSTR) reported quarterly earnings of $1.22 per share, missing the Zacks Consensus Estimate of $1.24 per share, and down from $1.41 per share a year ago, representing an earnings surprise of -1.61% [1] - The company posted revenues of $1.21 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.49%, with year-ago revenues also at $1.21 billion [2] - Landstar shares have declined approximately 24.6% since the beginning of the year, contrasting with the S&P 500's gain of 16.9% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $1.32 on revenues of $1.22 billion, and for the current fiscal year, it is $4.64 on revenues of $4.79 billion [7] - The Zacks Industry Rank for Transportation - Truck is currently in the bottom 3% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]