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One of the biggest names in trucking reported first quarter earnings this week showing it had turned its fortunes around for the better, while losses grew at another fleet and a third’s financial problems were surrounded not only by questions of its accounting practices but also about its long-term survival.
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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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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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Truckload carrier Celadon Group Inc., reported its profit in the first quarter of the year more than doubled from the same time a year ago.
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Celadon Trucking Services has ordered tractors for its new flatbed fleet which it acquired earlier this summer.
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Navistar has completed its largest one-time sale of International LoneStar trucks to the truckload fleet Celadon Trucking Services.
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U.S. trucking operation, Celadon Group, has announced an agreement to acquire selected assets of N. Yanke Transfer Limited based in Saskatoon, Saskatchewan.
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