Pacer’s First-Quarter Income Improves
Transportation and third-party logistics firm Pacer International’s first-quarter profit rose to $14.3 million, or 41 cents a share, from $7.8 million, or 21 cents, a year ago, the company said.
Revenue for the quarter ended April 4 rose to $509.4 million, from $465.1 million last year, Pacer said late Tuesday.
Overall operating income rose 70.8% to $24.6 million, while intermodal segment operating income rose 66%, to $31.9 million. The full operating income included $6.5 million in corporate loss.
Logistics segment operating income fell $700,000 to an $800,000 loss, “due to excess capacity, declining prices and higher transportation and fuel costs affecting our trucking units,” Pacer said.
Pacer International, which runs rail intermodal, less-than-truckload and warehousing operations, is ranked No. 15 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
