Celadon Profit Drops Despite Additional Revenue
Long-haul truckload service provider, Celadon Group reports revenue for the third quarter of this year increased 14.2% to $175.1 million from $153.3 million during the same time in 2012 while net income decreased 20.5% to $6.6 million from $8.3 million during the same time
Long-haul truckload service provider, Celadon Group reports revenue for the third quarter of this year increased 14.2% to $175.1 million from $153.3 million during the same time in 2012 while net income decreased 20.5% to $6.6 million from $8.3 million during the same time
Freight revenue, which excludes fuel surcharges, increased 16.3% to $142 million from $122.1 million in the 2013 quarter for the Indiana-based fleet.
The increase in average seated tractor count of 288, or 10.5%, to 3,024 in the September 2013 quarter compared with 2,736 a year ago was a significant operating improvement that resulted in increased revenue for the quarter, said Paul Will, president and CEO.
“This increase was a result of expanding our recruiting efforts at terminal locations, having established a driving school and training program at our Indianapolis headquarters as well as the acquisition of select assets and liabilities of Houg Special Services, based in Commerce City, Colo.; Land Span, based in Lakeland, Fla.; TCI Logistics, based in Kernersville, N.C.; and Hoss Cartage and Distribution, based in Ayr, Ontario, Canada, which were all completed in the back half of the September 2013 quarter,” he said
The business generated from these acquisitions should help Celadon continue to add truck capacity and density in current operating lanes, while benefiting from future operating synergies over time, said Will.
Celadon reports revenue per tractor per week increased $14, or 0.5%, to $2,913 in the September 2013 quarter, from $2,899 in the September 2012 quarter. Average revenue per loaded mile increased to $1.597 per mile in the September 2013 quarter from $1.562 in the September 2012 quarter.
“The average age of the Company’s tractor fleet was 1.4 years as of September 2013 and the average age of the trailer fleet was 2.4 years as of September 2013,” said Will. “Gains on sales of assets were $1.2 million in the September 2013 quarter compared with $1.9 million in the September 2012 quarter.
More information about Celadon’s third-quarter performance is on its website.
More Fleet Management
Does Your Trucking Fleet Need a New TMS? [Video]
Cloud technology, AI and new integrations are changing what transportation management systems can do. But does taking advantage of those advances mean replacing your existing TMS?
Read More →
Road Ready Becomes Saegic, Launches New Trailer Telematics Gateway
Clarience Technologies is rolling out new hardware and expanding its plans for connecting trailer telematics, maintenance data, and video.
Read More →
Give Your Trucking Fleet a Cybersecurity Walkaround
Your fleet's cybersecurity policies may look good on paper. These seven checks can help you find out whether they’re working.
Read More →
Kodiak Lines Up Fleets for Driverless Trucking
An agreement for 75 trucks, a new Texas freight lane, and progress on safety validation move Kodiak closer to its planned driverless highway launch.
Read More →
ITS Logistics Settles Religious Harassment Case
The Nevada-based logistics firm agreed to pay more than $396,000 to settle a religious harassment charge involving an employee's Jewish identity.
Read More →
Your Trucks Are Busy. That Doesn’t Mean They’re Winning.
High utilization doesn’t always mean strong margins. Looking beyond the current load can help fleets make better dispatch decisions and get more value from each truck’s time.
Read More →
Why This Trucking Recovery Is Different
Freight demand remains sluggish, but rising costs and tougher enforcement have taken enough capacity out of the market to change the outlook for motor carriers.
Read More →
Platform Science Adds Dispatch and Safety Tools
Four additions to PS Fleet help fleets monitor loads, manage driver coaching, share truck locations and adjust video system settings.
Read More →
PrePass Intelligence Mines Fleet Bypass, Toll and Safety Data
PrePass Intelligence helps fleets measure bypass savings, flag potential toll overcharges, and spot suspicious transactions by combining data from separate systems.
Read More →
Motive Adds AI Agents for Fleet Operations
New tools automate follow-up on fleet data, from maintenance work orders to driver alerts, with two-way voice conversations planned for later this year.
Read More →