Three Canadian trucking companies reported financial results from the third quarter, with two firms having higher profits than a year ago and one posting lower earnings.
TransForce Inc. said net income fell 18.2% in the third quarter to C$44 million, or 45 cents a share, from C$52.8 million, or 53 cents, a year earlier. Revenue grew to C$775.1 million from C$761.7 million in last year’s quarter, it said in an Oct. 30 statement.
TransForce saw profit improve in its package and less-than-truckload segments as well as in specialized services not related to the energy industry, it said. Its truckload and energy segments saw lower profits than last year.
Flatbed carrier Contrans Group Inc.’s income was C$9.6 million, or 28 cents a share, a 33.3% increase over last year. Revenue grew to C$149.4 million from C$130.9 million in 2012.
The revenue level, as well as its pre-tax income of C$13.3 million, were the highest quarterly results in the company’s history, Contrans said in its Oct. 30 statement.
“Contrans’ growth has been achieved through the completion of several acquisitions this year and through continued robust organic growth,” Chairman and CEO Stan Dunford said in the statement.
Tank carrier Trimac Transportation said its profit grew 3.4% to C$6 million, or 21 cents a share, from C$5.8 million, or 21 cents, the year before. Revenue grew 3% before fuel surcharges to C$97.5 million.
TransForce is ranked No. 8 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers. Contrans ranks No. 51 on the list, and Trimac Group, parent company of Trimac Transportation, ranks No. 39.
