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(FREIGHTWAVES) – Get ready for the “trucking winter.” KeyBanc’s Todd Fowler and Carney Blake, who are the group’s airfreight and logistics analysts, wrote in a Thursday note that freight activity has been “seasonally weak.”
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There’s been “limited indication” of the typical peak season activity that carriers and shippers expect in the fall as retailers prepare for the holiday season, Fowler and Blake wrote. Weak containerized imports underline the possibility that we won’t have a full peak season.
For public trucking companies, KeyBanc’s team is expecting results for the third quarter and estimates for 2023 to be “weaker.” The team downgraded trucking giants J.B. Hunt and Schneider.