trucking

Major Carriers Maintain Capital Spending Plans Despite Market Headwinds

Most large trucking operators kept their 2026 capital expenditure forecasts unchanged during first-quarter earnings reports, signaling confidence in long-term growth despite challenges.

Hunt Transport Services, Old Dominion Freight Line, Schneider National and Saia held their full-year CapEx guidance steady. Old Dominion's chief financial officer said the company believes consistent investment across economic cycles ensures capacity for expansion opportunities.

Knight-Swift Transportation Holdings stood apart, reducing its 2026 CapEx guidance by $25 million to between $600 million and $650 million.

The industry faces pressure from elevated fuel prices, tariffs, driver supply constraints and rising insurance costs that have squeezed margins. However, spot rates remain elevated and industrial sentiment continues expanding, providing some optimism. Several carriers project higher bid increases ahead.