The composite profit margin for 1,523 for-hire carriers in the latest TTS Blue Book of Trucking Companies has improved to 2.8%. The data, based on 1998 figures, shows a 9.4% increase in costs since 1997 but a 9.7% increase in revenues. End result: the operating ratio edged down from 95.08 to 94.82.
"The favorable results were achieved through sheer increases in business," noted Ronald Roth, executive vice president of the Blue Book publisher, Transportation Technical Services. Tonnage was up 8.5% and mileage up 8.8%.
Roth also said that continued growth is expected for 1999 and into 2000. "There are no anticipated shocks which should slow down economic and motor carrier performance into the new millennium."
The 1999-2000 Blue Book features summary data on the industry as well as individual motor carrier data such as income statments, balance sheets, and operating expenses. Individual company information also includes fleet size, operating statistics (miles traveled, tons hauled), and prices charged.
For more information contact TTS at (888) 665-9887 or www.ttstrucks.com.