That affected third-quarter earnings at one of the biggest names in this industry, C.H. Robinson. Visit Business Insider's homepage for more storiesOne of the trucking industry's biggest giants announced third-quarter earnings on Tuesday evening, and the results were even lower than the low expectations analysts had ahead of the release.
That drove down the stocks of other giants in transportation, like YRC Worldwide, Schneider, and Knight-Swift. Overall, the Russell 3000 Truckers Index declined by 6%, which is its largest intraday drop since Aug. 2011. C.H. Robinson's core offering is connecting trucking companies to the manufacturers and retailers who need that trucking capacity to move goods.
C.H. Robinson CEO Robert Biesterfeld pointed to that slowdown in volumes and overcapacity of truckers in explaining the brokerage's very bad quarter. And he said the struggles will continue until more capacity exits the market — largely driven by"Tariff concerns and fears of recession are weakening shipper demand," Biesterfeld said in a Wednesday call with investors.
Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Hong Kong to enter recession after protests damage retail, tourism - Business InsiderHong Kong to enter recession after protests destroyed retailers and brought the city's tourist industry to its knees It was the HKPoliceTerrorism and HKPoliceState who brought the city to its knees. The HKSAR government has successfully turned a political matter to a civil-police crisis. Welcome to an authoritarian city. LiberateHongKong Helen504 FreeHK StandWithHongKong HKPoliceTerrorism HKPoliceState LiberateHongKong Stand With Hong Kong 🌟⚖
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Mars CEO breaks down the transformation of the $35 billion company - Business Insider'Everything ... is radically different from when I started,' said Mars' CEO Grant Reid told Business Insider.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Facebook's business is running 'almost flawlessly': analysts - Business InsiderIgnore all the scandals and negative headlines — Facebook is still an extraordinarily successful cash-printing machine. It's a private company, people always tend to forget that. $elling it's customers data is a good business, especially since the customers GIVE it away for a few likes. F'n hilarious !!! 😂😂😂😂 Yeah but how many users did they lose besides me?
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
BlueVine launched business banking services for SMBs - Business InsiderBlueVine is joining other neobanks and fintechs filling the gaps where incumbents fall short by addressing SMBs' lending needs:
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Kroger has reversed its ban on Visa credit cards after previously accusing the company of 'excessive fees' that 'drive up food prices'Kroger is now accepting Visa credit cards at all stores, a Kroger spokeswoman told Business Insider on Wednesday. The spokesman woman did not reveal why the ban was revered. Ughhhhhh maybe cause they lost a huge chunk of business
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »