Transport & Industrial Conference Preview - What We Expect to Hear & Questions for You to Ask

Research evidence excerpt

Transport & Industrial Conference Preview - What We Expect to Hear & Questions for You to Ask

Airfreight & Surface Transportation

Airlines

May 18, 2026

Transport & Industrial Conference Preview - What We Tuesday, May 19

Expect to Hear & Questions for You to Ask Aerospace & Defense

Multi-Industry

The Wolfe Byte Rails

We have ~100 Transport, Airline, Multi-Industry and A&D companies scheduled Brokerage

to attend our 19th Annual Transport & Industrials Conference this week. This 155- Truckload

Intermodalpage report includes a list of questions to ask each company.

Freight Forwarding

●Transport Outlook. While macro uncertainty persists, transport micro Wednesday, May 20

fundamentals have improved materially. TL spot rates have surged over 30% Aerospace & Defense

y/y, and rising TL rates are positive for pretty much our entire coverage. So for Multi-Industry

Rails the first time in several years, Street estimates moved higher coming out of 1Q

LTL reports, and our Transport Index is outperforming materially this year. Thus, we

Parcel

expect a much-improved tone from transports at our conference vs. a year ago.

●Supply vs. Demand. We keep hearing about a supply-driven cycle (e.g. non- Thursday, May 21

domicile drivers), but is freight demand also improving? Meanwhile, big news Aerospace & Defense

last week with the Montgomery Supreme Court ruling. How much more TL Multi-Industry

supply could this take out of the market, and what does it mean for TL rates Rails

and asset-based vs. brokerage share? What do rising rates and the upcoming Brokerage

EPA27 rule mean for Class 8 truck orders? Truckload

●Volumes vs. Pricing. LTLs have seen the best mix of volume and pricing the last Airlines

few cycles, but will we see the same this cycle without YELL share gains and