Mullen Group’s 1Q Income Declines

Canadian transportation firm Mullen Group’s first-quarter net income fell to C$23.7 million or 29 cents per share, from C$31 million, or 38 cents, a year ago.

The decrease was due in part to a C$16.4 million decline in operating income, the company said in a statement.

Trucking and logistics revenue for the quarter fell 20.5% to C$80.2 million.

Mullen, which also has oilfield services operations, is ranked No. 56 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.