Reported 2 days ago
Morgan Stanley has reduced its earnings-per-share estimates for truckload (TL) and less-than-truckload (LTL) carriers, citing ongoing tariff uncertainties and low visibility in the shipping cycle. The firm's transportation analyst, Ravi Shanker, noted a significant drop in third-quarter earnings forecasts, averaging a 10% decrease. Shanker highlighted the prevailing weak demand as the trucking industry continues to experience a freight recession, with disappointing manufacturing data contributing to the cautious outlook ahead of the upcoming earnings season.
Source: YAHOO