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    Joseph Lawrence Hafling

    Research Analyst at Jefferies

    Joseph Lawrence Hafling is an analyst at Jefferies LLC specializing in the transportation and logistics sector, with a particular focus on parcel delivery and freight companies such as United Parcel Service, Inc. He has actively participated in major earnings calls and industry events, offering insightful research coverage and financial analysis for investors. While specific performance metrics and rankings are not publicly available, his role at Jefferies highlights his expertise and recognition within the research division. Hafling began his career in financial analysis prior to joining Jefferies, where he has built his reputation by closely following sector developments and maintaining relevant securities licenses as required by industry standards.

    Joseph Lawrence Hafling's questions to XPO (XPO) leadership

    Joseph Lawrence Hafling's questions to XPO (XPO) leadership • Q2 2025

    Question

    Joseph Hafling, on behalf of Stephanie Moore at Jefferies, asked about the pricing outlook for the second half of the year, specifically if the pace of sequential yield improvement can continue and if the high single-digit growth in the local channel is sustainable.

    Answer

    CFO Kyle Wismans confirmed that XPO expects yield excluding fuel to continue improving sequentially in both Q3 and Q4. He projected Q3 year-over-year yield growth to be at or above the level seen in Q2. Wismans noted that the local channel initiative still has a significant runway, as the company is in the low-to-mid 20% range of its 30% revenue share goal, supporting sustained yield growth.

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    Joseph Lawrence Hafling's questions to UNITED PARCEL SERVICE (UPS) leadership

    Joseph Lawrence Hafling's questions to UNITED PARCEL SERVICE (UPS) leadership • Q2 2025

    Question

    Joseph Hafling of Jefferies asked for management's perspective on speculation that peak season might be muted or may have already occurred due to pre-tariff shipping, and requested an update on current shipper inventory levels.

    Answer

    CEO Carol Tomé responded that based on her conversations with other CEOs, 'no one's telling me they're not gonna have a peak,' although they are not yet able to quantify it due to macro uncertainty. She emphasized that UPS is prepared for any scenario, whether volume is up or down, thanks to the enhanced network agility resulting from the strategic pivot away from lower-quality Amazon volume. An executive added that peak season operations are highly variable, allowing for efficient scaling.

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    Joseph Lawrence Hafling's questions to UNITED PARCEL SERVICE (UPS) leadership • Q4 2024

    Question

    Joe Hafling of Jefferies, on behalf of Stephanie Moore, questioned the strategic shift on SurePost, asking what changed given it was previously described as a high-ROIC business due to handing off the final mile.

    Answer

    CEO Carol Tomé reiterated that the primary driver was protecting service quality, which was at risk due to USPS's operational changes and price increases. EVP and President, U.S. Nando Cesarone explained that improved technology now allows for more efficient matching of SurePost packages to existing ground routes, smoothing dispatch and controlling costs. Chief Commercial and Strategy Officer Matthew Guffey noted the 9.9% GRI aligns value with the improved, controlled service. CFO Brian Dykes emphasized that the volume fits into the existing network without adding assets, thus protecting and growing ROIC, which is expected to increase by 300 basis points year-over-year.

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    Joseph Lawrence Hafling's questions to GXO Logistics (GXO) leadership

    Joseph Lawrence Hafling's questions to GXO Logistics (GXO) leadership • Q1 2025

    Question

    Joseph Lawrence Hafling of Jefferies inquired about the scenario planning behind GXO's reaffirmed guidance, given the strong Q1 results amid macro uncertainty, and asked about the impact of foreign exchange rates on 2025 and 2026 results.

    Answer

    CFO Baris Oran explained that the guidance's base case assumes flat year-over-year volumes and is resilient enough to withstand a potential low to mid-single-digit decline in H2 U.S. consumer volumes. He added that FX is largely hedged for 2025, limiting its impact, but current rates suggest a potential tailwind for 2026.

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    Joseph Lawrence Hafling's questions to GXO Logistics (GXO) leadership • Q4 2024

    Question

    Joseph Lawrence Hafling of Jefferies inquired about the specifics of the $15 million Q1 EBITDA impact from customer capacity realignments, asking about the profitability of the lost business, backfill timing, and whether this was a one-off event or a potential structural trend.

    Answer

    CFO Baris Oran clarified that the impact is a short-term, one-off event due to a timing mismatch between highly mature sites exiting and new start-ups ramping up. He detailed three specific instances, including one where a new customer has already been secured for a vacated site, and another where the customer is simultaneously opening four new sites with GXO in 2025. He emphasized these are not lost customers and the underlying business performance remains healthy.

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    Joseph Lawrence Hafling's questions to UNION PACIFIC (UNP) leadership

    Joseph Lawrence Hafling's questions to UNION PACIFIC (UNP) leadership • Q1 2025

    Question

    Joseph Lawrence Hafling, on behalf of Stephanie Moore at Jefferies, asked about major productivity initiatives for 2025 and the outlook for headcount throughout the year.

    Answer

    EVP Eric Gehringer highlighted operational fundamentals as the main productivity driver, supplemented by technology like energy management systems and terminal automation. CEO Vincenzo Vena added that the new NetControl dispatch system is key to efficiency and that hiring has already been slowed in response to productivity gains and the market outlook.

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    Joseph Lawrence Hafling's questions to FORWARD AIR (FWRD) leadership

    Joseph Lawrence Hafling's questions to FORWARD AIR (FWRD) leadership • Q4 2024

    Question

    Joseph Hafling of Jefferies questioned the drivers behind the decline in Expedited Freight shipments, the cause of the segment's sequential margin deterioration, and the outlook for its long-term margin potential.

    Answer

    CEO Shawn Stewart attributed the volume decline to the broad macro slowdown affecting all market participants. He explained the margin compression was caused by a freight mix shift toward less profitable, class-based tariff customers due to a pricing misstep in mid-2024, which is now being corrected. CFO Jamie Pierson added that while not providing guidance, the segment's historical performance and superior service levels compared to peers suggest a strong margin potential remains.

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    Joseph Lawrence Hafling's questions to FORWARD AIR (FWRD) leadership • Q3 2024

    Question

    Joseph Lawrence Hafling from Jefferies questioned if customers were trading down from air freight to Forward Air's more economical premium ground services and asked about demand trends in the international forwarding business.

    Answer

    CEO Shawn Stewart noted that demand for their unique expedited ground service remains strong among its target high-value clients, with overall volume softness tied to consumer spending rather than market share loss. He also observed that the international airfreight market is currently robust due to ocean freight disruptions, but he does not see a significant demand pull-forward. CFO Jamie Pierson added that the company is well-positioned if a broader trade-down from air to expedited ground occurs.

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    Joseph Lawrence Hafling's questions to RXO (RXO) leadership

    Joseph Lawrence Hafling's questions to RXO (RXO) leadership • Q4 2024

    Question

    Joseph Lawrence Hafling, on for Stephanie Moore, requested a breakdown of the incremental cost synergies that led to the estimate increase from $25 million to $50 million. He also asked how RXO successfully retained key talent during the Coyote integration.

    Answer

    CFO Jamie Harris attributed the increased synergy target to opportunities in real estate consolidation and procurement scale from combining vendor contracts. CEO Drew Wilkerson credited strong talent retention to building trust, effectively communicating the company's vision, and the excitement among employees about working for a larger, market-leading broker with a broader service portfolio.

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    Joseph Lawrence Hafling's questions to SAIA (SAIA) leadership

    Joseph Lawrence Hafling's questions to SAIA (SAIA) leadership • Q4 2024

    Question

    Joseph Hafling, on for Stephanie Moore at Jefferies, asked about the competitive environment and the primary focus of Saia's sales force.

    Answer

    CEO Fritz Holzgrefe emphasized that Saia's strategy is to focus on its own execution by providing consistent, high-level service, which is a key differentiator in a challenging macro environment. He explained that the sales force is armed with data to identify market opportunities and is focused on selling a high-quality, reliable service product characterized by low claims and on-time performance, which he described as a winning proposition.

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