| | | Hi There,
What started as sporadic shortages are becoming widespread as the supply chain disruption gets worse. By now, you’ve seen the photos of barges of goods waiting to be unloaded. However, simply getting the goods unloaded is only the first step.
There are many steps in our nation’s supply chains. And trucking companies play a key role. According to the American Trucking Association (ATA), approximately 70% of consumer goods in the The United States are transported by trucks.
But there’s a problem. Like every industry, trucking companies are having trouble finding qualified drivers. The typical driver is 55 years old or older. And many drivers have been retiring sooner than expected. The government requires drivers to be at least 21 years old before they can get an Interstate Commercial Drivers License.
And the Covid-19 pandemic caused training programs to be canceled so the pipeline of future drivers is dry.
How extreme is that shortage? The ATA estimates that the shortage of qualified truck drivers sits at over 50,000 and continues to grow. But that only captures the deficit between the pre-and post-pandemic numbers. The ATA believes that the nation may need up to 900,000 additional drivers to meet growing demand.
If you’re an investor those statistics should be like a cash register ringing in your brain. Trucking stocks have been among the best performers in 2021. That’s likely to continue well into 2022. And here’s something else to keep in mind. Even with labor costs likely to increase as trucking companies hire more drivers, those costs should be easy to pass through the supply chain as many companies will be willing to pay whatever it takes to get goods on their shelves. And that’s why we’ve prepared this special presentation which identifies seven trucking stocks that are excellent opportunities at this time. These are solid, established companies that have a history of growing revenue and earnings.
View the stocks now.
Matt Paulson Marketbeat.com | | | |
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