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322683 - Transport Capital Partners, LLC. Campaign


TCA Newsroom

Q1 Public Company Results Now Available
5/19/2017

On May 18, the TCA inGauge™ team uploaded the latest public company results for the first quarter of 2017 online. As a reminder, the team tracks the results of publicly-traded truckload (predominant) companies throughout North America. As of this quarter, they are now tracking 12 companies. 

The new additions to the database include: Schneider National (IPO in April), Daseke (began trading on the NASDAQ in February - first Flatbed/Specialized co. in group), TFI (formerly Transforce), and Titanium (a smaller Canadian publicly-traded trucking company). Once the Knight / Swift merger is complete, the team strives to summarize the combined company's results in the same format they've developed (subject to their segment reporting format). 

Here are the Operating Ratios (excluding FSC) for the quarter ending March 31:
  • Heartland Express: 83.17%
  • Knight: 90.76%
  • Marten: 91.41%
  • Werner: 94.27%
  • Schneider: 95.25%
  • PAM: 97.16%
  • TFI (TransForce): 97.27%
  • Titanium: 99.16%
  • Covenant: 99.78%
  • Daseke: 100.58%
  • USA Truck: 107.12%
  • Celadon: Q1 Delayed
Download the summary of Q1 results.

On average, the Operating Ratios for all the companies the team tracks have deteriorated by 2.99 percentage points, compared to Q4 2016. Although many companies have company-specific factors related to this deterioration, many have pointed (commonly) to: 1) Excess capacity, and 2) Soft used truck market, as contributing factors to the sub-par results.

On the bright side, many are banking on the new ELD mandate solving the capacity issue (however conversely, it will probably further erode the used truck market...perhaps).

Heartland, Knight, Marten and Werner continue to be the industry leaders from a O.R. perspective. As mentioned before, the team highly encourages everyone to read their quarterly and annual results for insight and inspiration (1. Transparency, 2. Strategy, & 3. Tactics).

With the entrance of Daseke in the public markets, it provides a great way to gain some further insight into the Flatbed/Specialized segment. Daseke, comprised of 11 distinct operating entities (all well known and respected companies in their own right), now boasts 2928 tractors, and annualized revenues $642 Million (prior to the Schilli and Big Freight acquisitions).

For more information, or to find out how your company can get involved, contact TCA inGauge™ Program Manager, Chris Henry


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