NEW YORK, NY -- (Marketwire) -- 04/30/12 -- The Trucking Industry struggles look to continue in 2012. The American Trucking Association recently stated that the industry is expected to haul more freight than last year, but the pace of growth would most likely be slower than in 2010 and 2011. "March tonnage, and the first quarter overall, was reflective of an economy that is growing, but growing moderately," ATA Chief Economist Bob Costello said in a release. "The pace of freight definitely slowed from the torrid pace in late 2011." Five Star Equities examines the outlook for companies in the Trucking Industry and provides equity research on YRC Worldwide, Inc. (NASDAQ: YRCW) and J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT).
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The ATA last week reported that the Truck Tonnage Index rose 0.2 percent in March, a decline from the 0.5 percent in February. The index when compared with March 2011 rose 2.7 percent, which makes it the smallest year-over-year-increase since December 2009. According to Costello economic indicators show tonnage will increase going forward but not at the pace of the past two years (5.8 percent). "Expect tonnage overall this year to be up at a more moderate rate, perhaps less than 3%, which is more in-line with normal growth," stated Costello.
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YRC Worldwide, a U.S. trucking company who avoided bankruptcy in 2009, has appealed for leniency from its lenders. The company wishes to alter terms of a loan agreement made last year so they may able to fulfill the financial requirements. If YRC cannot work out a deal and fail to meet requirements, its lenders could force the company to speed up payment of its debts.
J.B. Hunt Transport Services provides transportation and delivery services in the continental United States, Canada, and Mexico. Their Board of Directors recently declared a quarterly dividend on its common stock of $.14 per common share, payable to stockholders of record on May 11, 2012. The dividend will be paid on May 25, 2012.
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