Frozen Food Express’ 1Q Loss Widens

Frozen Food Express Industries said its first-quarter loss doubled from a year ago despite higher tonnage and revenue.

The refrigerated carrier lost $7.9 million, or 45 cents a share, compared with a loss of $3.7 million, or 22 cents, a year ago.

Revenue fell 7.3% to $92.1 million, while revenue excluding fuel surcharges edged up 0.4% to $73.4 million, the company said in a statement.

Less-than-truckload revenue rose 3.7% to $26.2 million, while truckload revenue gained 0.5% to $45.1 million. LTL tonnage improved 6.3%.

CEO Russell Stubbs attributed the loss in part to higher maintenance expenses due to bad weather and said the company “believe(s) we will see improved results in the coming quarters”

Frozen Food Express is ranked No. 56 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.