Mullen Group’s Trucking and Logistics Revenue Rises

Canadian transportation firm Mullen Group said its trucking and logistics revenue increased 19.3% in the third quarter.

Net income rose to C$51.2 million, or 56 cents per share, from C$42.9 million, or 52 cents, a year ago.

Revenue rose 11.5% to C$374 million, and operating income increased 21.9% to C$85.8 million.

Mullen’s trucking and logistics segment’s revenue increased to C$145.6 million. Oil-field services revenue increased 12.9% to C$229 million.

The company said the revenue increase was “directly attributable to the oil-field services segment … due to an increase in demand for services tied to the buildout of new pipeline capacity, other infrastructure-related projects in western Canada and the hauling of heavy crude oil.”

Mullen Group is ranked No. 49 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.