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Mar. 17, 2014

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SURFACE & DOMESTIC TRANSPORTATION 48 THE JOURNAL OF COMMERCE www.joc.com MARCH 17.2014 Source: JOC analysis, company reports 2010 1Q $2,955 2Q $3,150 3Q $3,158 4Q $3,115 2011 1Q $3,071 2Q $3,227 3Q $3,181 4Q $3,158 2012 1Q $3,152 2Q $3,382 3Q $3,216 4Q $3,311 2013 1Q $3,263 2Q $3,323 3Q $3,276 4Q $3,362 AVERAGE TRUCKLOAD REVENUE PER TRACTOR Average revenue per tractor per week for a truckload carrier group tracked by the JOC. $3,400 78 92 2008 2Q 91.1 3Q 90.3 4Q 90.4 2009 1Q 85.9 2Q 85.5 3Q 85.1 4Q 83.9 2010 1Q 83.8 2Q 83.5 3Q 84.4 4Q 83.2 2011 1Q 82.4 2Q 84.3 3Q 82.8 4Q 82.2 2012 1Q 81.7 2Q 82.0 3Q 81.2 4Q 79.7 2013 1Q 79.7 2Q 81.3 3Q 81.9 4Q 79.8 Source: JOC analysis, company reports Available tractor capacity at the large publicly owned carriers tracked by the JOC is about 20 percent below its 2006 peak. The fourth quarter index reading was revised to mitigate the effect of acquisitions by large carriers. JOC TRUCKLOAD CAPACITY INDEX TRUCKING DASHBOARD: 4Q 2013 FOURTH QUARTER AT A GLANCE Revenue and profit (or loss), in millions of dollars, and year-over-year percentage change, for the largest publicly owned LTL and truckload carriers in the fourth quarter of 2013. LTL REVENUE % CHANGE PROFIT (LOSS) % CHANGE FedEx Freight* $1,430.0 4.0% $77.0 1.0% Con-way Freight $847.0 2.7% $23.8 10.5% YRC Freight $776.1 -0.1% -$15.4 NA UPS Freight $616.0 2.3% NA NA ODFL $592.5 11.0% $47.2 19.4% ABF Freight $436.7 5.4% $9.9 NA YRC Regional $431.0 10.1% $22.7 170.0% Saia $279.7 5.8% $8.1 49.2% Roadrunner $135.5 4.4% $5.2 -21.2% *FedEx Freight data is for fiscal quarter ending Nov. 30, 2013. All others Dec. 31. TRUCKLOAD REVENUE % CHANGE PROFIT (LOSS) % CHANGE Swift $1,075.4 2.7% $45.3 -17.2% Landstar $692.0 1.0% $59.6 75.3% Werner $517.9 2.0% $22.2 -15.0% Universal $259.5 0.2% $11.3 352.0% Knight $249.7 3.1% $20.1 13.6% Covenant $176.5 -0.6% $3.3 120.0% Celadon $193.6 30.7% $5.1 30.5% Con-way TL $155.8 0.3% $8.9 4.5% Marten $166.2 -0.1% $7.3 -5.2% Roadrunner $180.1 25.6% $11.5 11.7% USA Truck $141.4 4.9% -$4.6 -43.0% Heartland $183.3 34.6% $15.8 10.8% J.B. Hunt Truck $91.0 19.0% -$1.0 NA NA = Not Applicable or Not Available. UPS Freight does not declare operating profit. Source: Company reports -2% 10% ■ Y-0-Y ■ M-O-M Year-over-year and sequential percentage changes in the American Trucking Associations' For-Hire Truck Tonnage Index. Y-O-Y M-TO-M % CHANGE % CHANGE JAN. 2013 4.7% 1.0% FEB. 3.1% -0.7% MARCH 3.8% 0.9% APRIL 4.3% -0.2% MAY 6.5% 2.1% JUNE 5.9% 0.1% JULY 4.7% -0.4% AUG. 6.9% 1.4% SEPT. 8.4% 1.4% OCT. 8.0% -1.9% NOV. 8.1% 4.7% DEC. 8.2% -0.8% Source: American Trucking Associations FOR-HIRE TRUCK TONNAGE 86 90 94 98 D N O S A J J M A M F J 2013 2012 2011 JOC FOR-HIRE TRUCKING EMPLOYMENT INDEX Source: JOC analysis 2011 2012 2013 JAN. 87.9 91.8 95.0 FEB. 88.8 92.6 95.4 MARCH 89.2 92.5 94.9 APRIL 89.5 92.6 95.8 MAY 89.8 93.0 95.7 JUNE 90.0 93.3 95.5 JULY 90.1 93.7 95.6 AUG. 90.2 93.8 95.6 SEPT. 90.4 93.7 95.7 OCT. 90.6 94.2 95.7 NOV. 90.6 93.9 95.9 DEC. 91.1 94.2 95.9 TRUCKING COMPANIES CLOSED 2013 with higher tonnage and shipment traffic despite severe storms that began rolling across the country in late November, disrupting trucking operations throughout December. For-hire truck tonnage rose at least 8 percent year-over-year in every month of the quarter, climbing 8.2 percent in December, according to the American Trucking Associations. Most publicly traded truckload and less-than-truckload carriers reported revenue gains from the previous year, with six out of 22 carriers increasing revenue by double-digit per- centages. Truck capacity tightened, partly because of weather-related equipment shortages. LTL and truckload yields were lower, but carriers anticipate rate hikes in 2014. Spot market truck rates rose and remained high in the first quarter. — William B. Cassidy

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