Mullen Group Posts 2Q Loss

Canadian transportation firm Mullen Group posted a second-quarter loss of C$6.2 million or 7 cents per share, compared with a profit of C$17.8 million, or 22 cents, a year ago.

The loss was mainly attributable to a C$32.9 million year-over-year variance in unrealized foreign exchange, the company said in a statement.

Revenue rose 5.9% to C$214.6 million. Trucking and logistics revenue rose to C$94.5 million, from C$87.4 million a year ago.

Operating income rose 16.3% to C$33.5 million, rising in both the trucking/logistics and oilfield services segments. The trucking/logistics segment rise was mainly attributable to acquisitions and to the foreign exchange variance.

Mullen Group is ranked No. 59 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.