TransForce Reports Lower Third-Quarter Earnings

Canadian transportation firm TransForce Income Fund said Wednesday its third-quarter earnings declined, due in part to a slowdown in truck volumes.

The company’s third-quarter profit was C$28.5 million or C33 cents a share, down from C$38.9 million or C45 cents a year earlier.

Revenue rose to C$443 million from C$404 million a year earlier, the company said in a statement.

“The strength of the Canadian dollar has resulted in a continuing slowdown in the manufacturing and automotive sectors [which has] lowered less-than-truckload and truckload volumes,” TransForce said.

TransForce is ranked No. 19 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.