Celadon Reports Flat 2Q Income
Truckload carrier Celadon Group said its fiscal second-quarter profit was unchanged at $1.7 million, or 8 cents a share, from a year ago.
Revenue for the quarter ended Dec. 31 fell 13.7% to $119.6 million, while freight revenue excluding fuel surcharges dropped 14% to $98.5 million, the company said late Wednesday.
“Since September, we’ve seen a significant fall off in demand, particularly import volumes out of Mexico, as the weakening U.S. economy has dramatically reduced Mexican exports to the U.S.,” Chief Executive Officer Steve Russell said in a statement.
Celadon Group is ranked No. 52 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
