ATA’s For-Hire Truck Tonnage Index in September Sees Smallest Year-Over-Year Gain in Nearly 3 Years
Five Star Equities Provides Stock Research on J.B. Hunt and Old Dominion Freight Line
NEW YORK, NY–(Marketwire – Oct 30, 2012) – The Trucking Industry has struggled in 2012 as a number of economic factors has caused demand to fall. The American Trucking Associations’ (ATA) advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 0.4 percent in September, following a 0.9 percent decline in August. Five Star Equities examines the outlook for companies in the Trucking Industry and provides equity research on J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) and Old Dominion Freight Line (NASDAQ: ODFL).
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For the past 9 months the index has been trending flat as the reading of 118.7 in September was equal to the reading on January 2012. When compared to September of 2011 the SA index gained just 2.4 percent, which was the smallest year-over-year gain in nearly 3 years.
“The biggest risk to trucking would be a backslide into recession either because of the collapse of the Euro, or more likely, uncertainty related to the ‘fiscal cliff’ at the end of the year,” said ATA’s chief economist Bob Costello. “It is very likely that Washington simply punts on resolving the issues surrounding the cliff into 2013, thus limiting GDP growth to less than 2% until late in the year.”
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J.B. Hunt Transport Services is a holding company that, together with its wholly owned subsidiaries, operates as a surface transportation and delivery services to a diverse group of customers and consumers throughout the continental United States, Canada and Mexico. For the third quarter of 2012 the company reported earnings of $0.65 per share.
Old Dominion Freight Line, Inc. is a leading, less-than-truckload, union-free motor carrier providing regional, inter-regional and national LTL service and value-added logistics services. The company’s Board of Directors approved a three-for-two stock split, which came into effect on September 7, 2012. Revenue for the third quarter increased 10.1 percent to $544.5 million from $494.5 million in the year-ago quarter.
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