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Navistar Amends $1.5 Billion Term Loan Facility
Navistar International, the parent company of truck and engine manufacturer International Truck and Engine Corp., amended a $1.5 billion term loan facility to borrow the remaining balance, the Associated Press reported Wednesday.
July 26, 2006P.A.M. Reports Higher 2Q Earnings, Revenue
Truckload carrier P.A.M. Transportation Services Wednesday reported its second-quarter net earnings jumped to $5.2 million or 51 cents a share, from $3.7 million or 33 cents a year ago.
July 26, 2006Security & Safety Briefs — July 20 - July 26
Panel Sends FMCSA Nominee Hill to Senate • Department of Agriculture to Reduce Mad Cow Tests • Teen Confesses to Ind. Highway Shootings
July 26, 2006C.H. Robinson Net Income Improves in Second Quarter
Transportation and logistics firm C.H. Robinson Worldwide late Tuesday reported second-quarter net income of $66.6 million or 38 cents a share, up from $49.3 million or 28 cents a year earlier.
July 26, 2006Cummins to Develop, Manufacture Light Duty Engines
Diesel engine manufacturer Cummins Inc. has announced an agreement to produce light-duty engines for an unnamed major automaker serving the North American market, the Associated Press reported Wednesday.
July 26, 2006Norfolk Southern's 2Q Profits Slip 12%
Eastern freight rail line Norfolk Southern Corp. reported Wednesday its second-quarter net income fell 12% to $375 million or 89 cents a share from $424 million or $1.04 in 2005.
July 26, 2006Industry Sees Problems With TWIC Proposal
Trucking industry and labor groups expressed concern about the recently proposed Transportation Worker Identification Credential program, especially about its lack of coordination with other security programs that would lead to conflicts and higher costs.
July 26, 2006UPS Shares Down on Missed Profit Estimates
UPS Inc.’s stock was down more than $8 a share Tuesday after the company posted second quarter profits that fell short of analyst expectations and announced that its earnings growth for 2006 would be in the low range of its 11% to 16% forecast, the Associated Press reported Wednesday.
July 26, 2006Covenant Transport Reports $398,000 Loss
Covenant Transport said Tuesday it lost $398,000 or 3 cents a share in the second quarter, compared with a net income of $652,000 or 5 cents a share a year earlier.
July 25, 2006Paccar Earnings, Revenue Reach Record Levels in 2Q
Heavy-duty truck maker Paccar Inc. reported its second-quarter profit rose 53% to a record $369.9 million or $2.21 a share, from $241.5 million or $1.39 last year.
July 25, 2006