Is this fall’s presidential election starting to put a hold on company investments? That’s an intriguing question that emerged from several recent trucking-company earnings calls. Leaders of both TFI International and Saia — who are among the freight companies struggling mightily amid a downturn that’s lasting far longer than had been expected — told analysts some of their customers appear to be holding back on some investment decisions ahead of November’s election.
“The industrial complex has just been weaker,” Saia CFO Doug Col said. “Who knows, in an election year, maybe you get a different regulatory environment around energy or something like that, for example, over the next couple of years. […] We all benefit when the industrial supply chain is full and moving and energy has been missing.”
