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.
Two freight transportation providers, Forward Air and Hub Group, along with dealer group Rush Enterprises, saw second quarter earnings drop.
Freight transportation provider Forward Air Corp.'s first quarter profit fell more than 50% from a year earlier on 20% higher revenue.
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.
The time-definite trucking and logistics services provider Forward Air Corp. has released figures showing a modest increases in earnings.
Forward Air Corp. has announced its Forward Air Inc. business has reached an agreement to purchase the trucking services provider CLP Towne Inc.
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.
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.
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.
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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