USF Corp. lowers earnings expectations

USF Corp. yesterday lowered its expectations for second-quarter earnings by as much as 52%. The carrier cited slower than expected business activity, pricing pressure in regional trucking companies and a fall-off in its logistics business segment. While business activity was encouraging in March and April, the company said freight movement slowed in May and continued at a reduced rate into the first

USF Corp. yesterday lowered its expectations for second-quarter earnings by as much as 52%.

The carrier cited slower than expected business activity, pricing pressure in regional trucking companies and a fall-off in its logistics business segment.

While business activity was encouraging in March and April, the company said freight movement slowed in May and continued at a reduced rate into the first part of June.

Roadway Corp. also lowered its expectations this week.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish