Has the trucking sector bounced back from a stormy first quarter? The early signs, based on the second quarter results of large cap trucker J. B. Hunt Transport Services, say yes.
J. B. Hunt Transport (Nasdaq: JBHT), based in Lowell, AR, announced this week that second quarter earnings rose 6.5 percent “on revenue growth across most of its business segments,” according to a report in the Wall Street Journal. It was welcome, if expected, news for investors in the trucking sector who were hit hard by the severe winter weather in the first quarter.
While JBHT is a big company ($9.2 billion market cap), it is considered by some as an important bellwether for the trucking industry, which includes at least four small caps that fit our blog’s focus.
ArcBest Corp. (Nasaq: ARCB), based in Fort Smith, AR, is a provider of freight transportation services that calls its operating segment ABF Freight System. ABF operates out of 277 terminal facilities, 10 of which are distribution centers. On July 2, Cowen and Company put a $44 price target on its stock. ARCB closed July 16 at $41.92, down $0.22 for the day. Its market cap is $1.08 billion.
Saia Inc. (Nasdaq: SAIA), based in Johns Creek, GA, is a transportation company that provides a range of trucking and logistics services. Its subsidiary, Saia LTL Freight, specializes primarily in providing shipments of between 100 and 10,000 pounds and operates a network of 150 service facilities. The company will announce its second quarter results and hold a conference call July 30. SAIA stock closed July 16 at $44.68, down $0.09 for the day. Its market cap is currently $1.11 billion.
Roadrunner Transportation Systems (NYSE: RRTS), based in Cudahy, WI, is a transportation and logistics service provider offering customers a full suite of solutions but primarily focuses on small to mid-size shippers. RRTS has made two acquisitions in 2014: Rich Logistics and Everett Transportation in February, and Unitrans International Corporation in March. RRTS is also scheduled to announce its 2Q results and hold a conference call on July 30. RRTS closed July 16 at $27.82, up $0.07. Its market cap is $1.04 billion.
Universal Truckload Services (Nasdaq: UACL), based in Warren, MI, provides transportation services throughout the U.S. and parts of eastern Canada. Its over-the-road services include flatbed and dry van operations as well as rail-truck and steamship-truck intermodal support services. Last December, UACL purchased Westport Axle Corp. UACL will report its 2q results July 24 and hold its conference call July 25. It closed July 16 at $24.64, up $0.16. Its market cap is $743.55 million.