Quality Distribution's Third-Quarter Profit Declines
Quality Distribution Inc. reported third-quarter net income declined to $2.8 million, or 10 cents per share, from $8.9 million or 32 cents per share a year ago.
Revenue rose 6.1% to $235.7 million, the tank truck carrier said. Excluding fuel charges, revenue increased $12.4 million.
“Our overall results were in line with our expectations, especially with respect to our free cash flow generation, which tends to be seasonally strong in the third quarter,” Chairman and CEO Gary Enzor, said in a statement.
“On the operating front, we continue to see solid demand in our chemical logistics business and strong results from our intermodal operation,” he said.
Quality Distribution is ranked No. 35 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.
