Trucking Industry on the Upswing Heading Into 2013 as Truck Tonnage Index Rises for the First Time Since July
Research Driven Investing Provides Stocks Research on Arkansas Best and YRC Worldwide
NEW YORK, NY -- (Marketwire) -- 01/18/13 -- Heading into 2013, a number of factors have combined to present a positive outlook for the Trucking Industry. The American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index gained 3.7 percent in November, which was the first gain since July. Research Driven Investing examines investing opportunities in the Trucking Industry and provides equity research on Arkansas Best Corporation (NASDAQ: ABFS) and YRC Worldwide, Inc. (NASDAQ: YRCW).
Another measure of the strength of the trucking industry, FTR's Trucking Conditions Index, gained two full points in November to settle at a reading of 9.7. A reading above 10 suggests conditions such as volumes, prices, and margins are in a favorable range for trucking companies.
"We were forecasting an improved environment for trucking even before the agreement just reached to avoid the 'fiscal cliff.' There are still political hurdles to navigate in early 2013, but the agreement takes some of the uncertainty out of business plans. We'll keep monitoring the economy closely to look for any renewed softness in demand, but for now we believe capacity will tighten during 2013," Jonathan Starks, director of transportation analysis for FTR, commented.
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Arkansas Best Corporation, through its subsidiaries, engages in motor carrier freight transportation in the United States. The company provides shipping services to its customers by transporting various large and small shipments to geographically dispersed destinations. The company is scheduled to release its fourth quarter 2012 results before market open on Wednesday, January 30th.
YRC Worldwide, one of the largest transportation service providers in the world, is the holding company for a portfolio of successful brands, including YRC Freight, YRC Reimer, New Penn, Holland and Reddaway. The company reported operating income increased $53.4 million to $27.3 million in the third quarter; this was the second consecutive quarter of positive operating income.
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