Freight Spend, Shipments Soft Again In August [zero hedge]
Cass Information Systems, Inc (CASS)
US:NASDAQ Investor Relations:
ir.cassinfo.com
Company Research
Source: zero hedge
Freight Spend, Shipments Soft Again In August By Todd Maiden of FreightWaves August data from Cass Information Systems showed the freight market continues to trudge along what is expected to be a trough. Both shipments and freight spend stepped lower from year-ago levels. Shipments captured by the Cass Freight Index fell 1.9% year over year in August, following a 1.1% y/y decline in July. The August result came in ahead of a projected decline of 3%. “These were the smallest declines in 18 months as goods demand continues to grow slowly, and slowing capacity additions reduce the pressure on for-hire shipments,” the Monday report stated. The volume dataset improved 1% seasonally adjusted from July, a second consecutive monthly increase (up 3.1% seasonally adjusted in July) but remained 12.3% lower than the 2022 level. The shipments index is expected to be down 3% y/y in September and off 3% to 4% for all of 2024 after a 5.5% decline last year. The update from Cass appears to be in line
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News
- SONAR expands LTL and intermodal data offering [Yahoo! Finance]Yahoo! Finance
- Cass Information Systems Forms Strategic Partnership with Brazilian Firm Lupeon to Drive Global Growth [Yahoo! Finance]Yahoo! Finance
- Cass Information Systems Forms Strategic Partnership with Brazilian Firm Lupeon to Drive Global GrowthBusiness Wire
- Cass Information Systems, Inc. (NASDAQ: CASS) had its price target raised by analysts at Piper Sandler from $44.00 to $45.00. They now have an "overweight" rating on the stock.MarketBeat
- Cass Information Systems GAAP EPS of $0.21, revenue of $31.23M [Seeking Alpha]Seeking Alpha
CASS
Earnings
- 10/17/24 - Miss
CASS
Sec Filings
- 11/7/24 - Form 10-Q
- 10/22/24 - Form 4
- 10/17/24 - Form 8-K
- CASS's page on the SEC website