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Heavy equipment maker Caterpillar Inc. Monday reported a first-quarter profit compared with a loss a year ago, and boosted its sales and income forecast for the year.

Business got so bad for Jack McDevitt Jr.’s Mack, Volvo and Peterbilt truck dealerships that he shuttered one of his locations last spring and laid off 60 people, including his son. 

Trucking company failures leaped to 730 during the first quarter, the largest number since the third quarter of 2008, as the recession continued to take a toll on freight carriers, said Donald Broughton of Avondale Partners.

The economic recovery and understanding how of government regulations will affect business will be key themes of the National Tank Truck Carriers’ annual conference, scheduled for May 10-12 in Chicago. 

Most publicly traded trucking companies have reported improved first-quarter earnings, adding evidence that the economic recovery is moving forward and offering hope that the second quarter will be even stronger.

The good news continued to pour in last week, as a string of trucking-related companies reported improving bottom-line results during the year’s first quarter.

CINCINNATI — A strengthening freight market is leading to higher freight rates, and more loads are going unclaimed, attendees at the National Private Truck Council’s annual management conference said. 

James “Whit” Whittinghill, the one-time chief lobbyist for American Trucking Associations, died April 15 at his home in Arlington, Va. He was 57.

Arkansas Best Corp.’s ABF Freight System and the Teamsters union said they have reached agreement on a 15% wage reduction to help the less-than-truckload carrier cope with losses triggered by the recession.