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The parent of a company primarily known for its less-than-truckload fleet saw its profit fall by nearly a third while a separate carrier that provides long-haul truckload and other services moved into the red, according to newly released earnings numbers.
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The trucking operation Celadon Group Inc. on Thursday reported its fiscal fourth quarter and year-end results for 2016 with both showing sharply lower earnings.
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The wave of first quarter earnings reports from the nation’s publicly owned fleets continued on Wednesday, with three out of four lower than a year earlier due mainly to less freight to move.
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Steve Russell, the founder of Celadon Group Inc. died on April 15 at 76 years of age. The company he launched over 30 years ago to haul automotive freight from Michigan to Mexico has since grown into a truckload and logistics powerhouse.
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UPDATED -- Net income for two trucking and logistics companies experienced pullbacks in the fourth quarter of the year, according to earnings reports released Wednesday.
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More trucking companies have released their third quarter financial earnings, showing improvements from a year earlier or at least maintaining their ground, despite complaints about the recent freight-hauling environment.
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Five more trucking companies have reported quarterly earnings – but not all showed gains over a year ago.
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Freight transportation and logistics provider Celadon Group Inc. on Monday announced its purchase of North Carolina-based carrier Taylor Express.
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Revenue for the quarter increased 10.5% to $193.4 million from $175.1 million a year earlier. Freight revenue, which excludes fuel surcharges, increased 11.1% to $157.7 million.
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Trucking and logistics operator Celadon Group Inc. on Monday announced the purchase of A&S Services Group LLC, a regional for-hire and dedicated truckload carrier.
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