Celadon’s 2Q Profit Almost Doubles
Celadon Group said late Wednesday its fiscal second-quarter net income almost doubled, to $5.4 million, or 24 cents per share, from $2.9 million, or 13 cents, a year ago.
Revenue for the quarter ended Dec. 31 rose 6.3% $141.5 million from a year ago, the truckload carrier said. Freight revenue excluding fuel surcharges rose to $112.4 million, from $111.6 million.
To deal with an ongoing driver shortage in the truckload sector, Celadon completed two asset acquisitions in the quarter — American Eagle, the non-refrigerated division of Frozen Food Express, and USF Glen Moore, a unit of YRC Worldwide, Celadon’s CEO Steve Russell said in a statement.
Celadon Group is ranked No. 42 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
