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COMMENT: Fuel price fluctuations impact fleets in mysterious ways

BY OLIVER DIXON. Fleets welcome falling fuel prices, but uncertainty about this major input cost can be seriously damaging

Covenant Transportation Group, one of North America’s largest trucking companies, has had a busy time in terms of news over the past couple of days. In addition to announcing that it was to issue 2.2 million Class A shares – the proceeds of which will be used to pay down debt – it also guided to Q4 earnings per share (EPS) as being “materially greater” than the preceding quarter owing to a combination of improved pricing and a marginal improvement in seated trucks.

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