Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| We believe we are positioned well to take advantage of the seasonal volume increases along with committed new business that I mentioned earlier |
| And so I think we're in pretty good shape on the trailer side |
| Unidentified Analyst Of those is getting very impressive |
| But you've consistently run this business extremely well |
| Reiterate that I think you guys are doing a great job |
| If anything, we've added business and our partnerships have improved |
| However, the added capacity is encouraging for our plans to grow miles and revenue due to the previous driver pay increases, turnover results have been lower among our drivers with a year or more of seniority |
| But -- so when you look at this summer month, we would expect to see obviously, revenue should indicate earnings, right? So I would think that the summer should be really strong because that's historically your best |
| One, certainly, the driver pay increases that we've done have helped us with our retention levels and those drivers that have been here for a while |
| Operating revenues for the quarter were $23,465,000, up $2,537,000 from the second quarter last year due to rate increases, higher fuel surcharges, increased miles and an improved business mix |
| Miles this quarter increased 97,000 miles over last year's quarter, mainly due to an improving driver count |
| We believe replacing the 29 leased tractors with company units will provide a better financial result and is a good use of cash |
| John Klopfenstein About the direction and the metrics that you rattled off that we're continuing to see the things we care about it that move the needle the most are improving this year |
| Unidentified Analyst Congratulations, guys, on an excellent quarter |
| Operating revenue for the period were $46,315,000, an increase of $4,816,000 due to rate increases, higher fuel surcharges and an improved business mix |
| Unidentified Analyst Another thing I want to ask you is that when I look at your stock, it is quite unbelievable that I really believe the stock is significantly undervalued |
| New driver acquisition, while improved, continues to result in high turnover, but with better results than this time last year |
| We also have new business opportunities booked going forward into the third quarter, and we'll continue to focus our growth with new and existing customers that meet our stated goal of adding business that will improve our return on investment |
| Is That -- is that a fair statement? Rob Sandlin That's -- we feel good |
| That property was extremely unique as far as the rest of our properties go |
| In the first half of our fiscal 2023, we added business with new and existing customers on the back of a higher driver count and increased our miles quarter-over-quarter over prior year quarter for the first time in several years |
| And so we've really kind of gone through the whole process top to bottom, and we think all of those things are helping |
| Operating revenue per mile was up $0.40 or 10.2% versus last year's quarter |
| The newer drivers pay is up, and so I think that's helped |
| We have some growth ability on the dry bulk side of the business |
| Operating revenue per mile was up $0.53 or 13.8% |
| So I think we'll continue to see incremental driver growth as long as we're able to get to hire them and keep our turnover move in the same direction |
| That's going to provide something accretive to the shareholders and some return on investment |
| And so they've got to have good freight to be able to pay for those things |
| We continue to focus on our driver hiring and retention while the driver hiring market is still very challenging, our driver count increased during the second quarter, which allowed us to add miles throughout the period |
| Statement |
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| And so I wouldn't tell you that there's a lot of excess demand out there |
| Miles for the period were down 202,000 miles versus last year's period, mainly due to closing of our Nashville terminal last year |
| And I think if the competition wasn't doing the same thing, then we would have lost business by now |
| But not to the extent to where a surge in -- even a small surge in demand or any kind of disruption creates a real problem |
| And over the last two years, they've consistently been 5% to 8% below what they were pre-COVID for whatever that drives that |
| And because we're not going to be able to grow a lot in some of those markets |
| All of we just had flooding in South Florida |
| The operating profit this quarter was $584,000, compared to an operating loss of $639,000 in last year's second quarter |
| Beyond what we've already accomplished this year |
| And I think we had with the period of time that we've gone through and with our earnings not doing so well, we had kind of stepped away from that |
| And I think that's down from 21 if you went all the way back to six years ago when we first had our terminal closure in Birmingham |
| We didn't see -- frankly, we didn't see the surge -- the typical surge of business in the Central and South Florida market that you would see in during the spring time |
| But as I said a few minutes ago, we just didn't see the Florida season take off as much as it normally has in the past |
| I do think that the freight market out there albeit in the port cities, it's tougher, but the freight market and the fact that the general freight prices, not our freight prices are down, some of those owner-operators have had to move on to something else |
| John Klopfenstein We still had a strong March, just a little lighter than we would have thought |
| I would hesitate to name customers for a lot of reasons |
| A lot of it has been depreciated and so there's not a lot of cost to us in owning those facilities other than the maintenance versus if we were to on lease properties today, it'd be extremely expensive |
| So say, late August and September aren't quite as robust as they used to be |
| In the owner-operator situation, are we at a lower margin because I've never quite understood.. |
| And it took that market a couple of weeks to get caught back up |
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