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Two large trucking fleets reported big increases in profits for the third quarter of the year. A fleet management and related services conglomerate also saw a hike, but things slipped for a niche trucking provider.
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Two freight transportation providers, Forward Air and Hub Group, along with dealer group Rush Enterprises, saw second quarter earnings drop.
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Freight transportation provider Forward Air Corp.'s first quarter profit fell more than 50% from a year earlier on 20% higher revenue.
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Forward Air Corp. has formally completed is previously announced purchase CLP Towne Inc. combining two of the largest trucking companies moving freight to and from the nation’s airports.
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The time-definite trucking and logistics services provider Forward Air Corp. has released figures showing a modest increases in earnings.
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Forward Air Corp. has announced its Forward Air Inc. business has reached an agreement to purchase the trucking services provider CLP Towne Inc.
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Forward Air Corp’s. motor carrier subsidiary, FAF Inc., is raising owner-operator pay effective Jan 4. The contractual base rate will increase by 10 cents per mile for team less-than-truckload and truckload express service, while rates for solo truckload express drivers will increase by 6 cents per mile.
Read More →The trucking operation Forward Air Corp. announced its subsidiary, Central States Trucking Co., has purchased substantially all of the assets of Multi-Modal Trucking Inc. and Multi-Modal Services Inc., based in Indianapolis, Indiana.
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Net income during the period was $16.7 million compared to $14.2 million in the prior-year quarter or 54 cents per diluted share compared with 46 cents per diluted share.
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Forward Air has reported operating revenue for the quarter ended June 30, increased 21.3% to $193.9 million from $159.8 million for the same quarter in 2013.
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