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.
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.
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.
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.
UPDATED -- Net income for two trucking and logistics companies experienced pullbacks in the fourth quarter of the year, according to earnings reports released Wednesday.
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.
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.
Celadon Trucking Services has ordered tractors for its new flatbed fleet which it acquired earlier this summer.
Navistar has completed its largest one-time sale of International LoneStar trucks to the truckload fleet Celadon Trucking Services.
U.S. trucking operation, Celadon Group, has announced an agreement to acquire selected assets of N. Yanke Transfer Limited based in Saskatoon, Saskatchewan.