The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how ground transportation stocks fared in Q3, starting with Heartland Express (NASDAQ: HTLD).
The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.
The 15 ground transportation stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 0.9%.
In light of this news, share prices of the companies have held steady as they are up 4.5% on average since the latest earnings results.
Weakest Q3: Heartland Express (NASDAQ: HTLD)
Founded by the son of a trucker, Heartland Express (NASDAQ: HTLD) offers full-truckload deliveries across the United States and Mexico.
Heartland Express reported revenues of $179.5 million, down 8.7% year on year. This print fell short of analysts’ expectations by 2.4%. Overall, it was an underwhelming quarter for the company with EPS in line with analysts’ estimates.
Heartland Express delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 2.4% since reporting and currently trades at $10.52.
Read our full report on Heartland Express here, it’s free.
Best Q3: RXO (NYSE: RXO)
With access to millions of trucks, RXO (NYSE: RXO) offers full-truckload, less-than-truckload, and last-mile deliveries.
RXO reported revenues of $1.87 billion, up 31.7% year on year, outperforming analysts’ expectations by 2.6%. The business had an impressive quarter with a solid beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.
RXO scored the fastest revenue growth of the whole group. The market seems content with the results as the stock is up 1.1% since reporting. It currently trades at $27.92.
Is now the time to buy RXO? Access our full analysis of the earnings results here, it’s free.
Avis Budget Group (NASDAQ: CAR)
The parent company of brands such as Zipcar and Budget Truck Rental, Avis (NASDAQ: CAR) is a provider of car rental and mobility solutions.
Avis Budget Group reported revenues of $3.44 billion, down 2.4% year on year, in line with analysts’ expectations. It was an underwhelming quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Interestingly, the stock is up 16% since the results and currently trades at $126.83.
Read our full analysis of Avis Budget Group’s results here.
Landstar (NASDAQ: LSTR)
Covering billions of miles throughout North America, Landstar (NASDAQ: LSTR) is a transportation company specializing in freight and last-mile delivery services.
Landstar reported revenues of $1.51 billion, up 25.3% year on year. This print topped analysts’ expectations by 0.7%. More broadly, it was a sluggish quarter as it recorded a significant miss of analysts’ EPS estimates.
The stock is down 13.3% since reporting and currently trades at $146.38.
Read our full, actionable report on Landstar here, it’s free.
ArcBest (NASDAQ: ARCB)
Historically owning furniture, banking, and other subsidiaries, ArcBest (NASDAQ: ARCB) offers full-truckload, less-than-truckload, and intermodal deliveries of freight.
ArcBest reported revenues of $1.21 billion, up 15.5% year on year. This number beat analysts’ expectations by 0.6%. However, it was a softer quarter as it logged a significant miss of analysts’ EPS estimates.
The stock is down 1.5% since reporting and currently trades at $132.46.
Read our full, actionable report on ArcBest here, it’s free.
Market update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
