Moving on then to Page 4 and the overall transportation results. There you see the total net revenues being roughly flat for the quarter. The volume growth in almost all service lines that I'll get into more specifically offset by that net revenue margin compression that I referenced. On the bottom half of that slide, our 10-year or historical net revenue margin percentage shows that for the quarter, we had 14.9% net revenue margin for the quarter in transportation. We've talked a lot in the past about how these margins fluctuate and all the various things that could impact them. And while we expected margin compression off of the highs of 2009 and all of the economic circumstances that created that, I think it's fair to say that this margin compression cycle has been longer and more significant than we might have anticipated. So while it's not uncommon for our business model to see supply cost rising faster during periods of time than we're able to pass through to our customers. Again, this has been a fairly significant and fairly long part of the cycle, down to a 10-year low of 14.9% for the quarter.
Moving on to Page 5 then for our truck results. As a reminder, our truck category includes both truckload and less-than-truckload. Net revenue combined for the 2 declined to 0.5% in the second quarter. We were happy with volume increases of 10% in truckload and 17% in LTL. Again, following the theme of cost pressures on the truckload side, the capacity that we rely heavily on, the medium and small carriers, continue to experience a fair amount of cost pressure. And as we disclosed, our net cost for the quarter were up 3% on the truck load compared to second quarter of last year, with customer prices being up about 1%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV