Companies with the best trucker opportunities
The trucking industry has always been a steady force, as the nation's businesses need reliable means of transporting their goods. However, certain companies are moving up in the ranks with respect to what they pay their drivers, how many jobs they have available and their financial outlooks.
Let's take a look at the trucking companies that might be the best to apply to in the coming years, beginning with those that have seen their stock values increase significantly of late.
Sustainable growth
Investor Place recently listed three of the trucking companies with the highest-growth stocks that have stable and sustainable figures, noting that they stand apart from the hundreds of thousands of carriers and independent operators in the industry. First on the list was Arcbest Corp, which has a diversified range of trucking services and hit $1.2 billion in revenues so far this year, with an estimated $1.6 billion still to come before next January.
According to the news provider, Schneider National Inc., which is based in Green Bay, Wisconsin, is among the biggest trucking companies in the nation and has been in service for about 80 years. The firm possesses more than $5.2 billion in market capitalization, yet it maintains steady growth.
Finally, Investor Place cited USA Truck, Inc., as a resurgent company that fell on hard times between 2015 and 2016, but is now enjoying exponential growth in their shares. USA Truck is also a relatively small company relative to other leaders in the industry, but is expected to enjoy 66 percent share value growth between 2018 and 2019.
Any of these three companies would be strong candidates to apply to, as they, like many others in the industry, are scrambling to find enough professional drivers to keep their growth moving in the right direction.
A new entrant
Trucks.com reported that Uber is now beginning to disrupt the trucking industry through its Uber Freight business line, which is more focused on assisting in matching smaller trucking companies with new opportunities to grow. Now operating nationally after a quick test in Texas last May, individual drivers can also use the app after getting approved, which is one way to maintain an elevated level of independence.
The site added that research from Frost & Sullivan forecast mobile trucking apps to rake in $35.4 billion within the next seven years, meaning they are already playing a more significant role in the industry. Some companies are also hoping that this helps to chip away at the massive workforce shortages that have been straining the market for a while now.
At the end of the day, it is a driver's market right now, and you should have plenty of options when it comes time to apply for employment. Make sure you do your homework to identify that trucking company that best fits your demands and preferences.