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TRUCKING INDUSTRY NEWS * USA & Canada
* USA - C.H. Robinson 1Q Profit Flat; Shares Rise After-Hours
New York,NY,USA -The Wall Street Journal, by Shawn Langlois -April 21, 2009: -- C.H. Robinson Worldwide (CHRW) shares jumped 6.4% in after-hours trading Tuesday after the trucking company posted a flat first-quarter profit and lower revenue due to weakness in the broader transportation market... Before the after-hours rally, C.H. Robinson shares had gained 2.2% to close at $49.09 but are still down 17% in the past year...* Ryder System’s Q1 Earnings Fall 88 Percent
Miami,Fl,USA -The Journal of Commerce Online, by Marcy Frank -Apr 22, 2009: -- Trucking and logistics management company Ryder System on April 22 reported an 88 percent plunge in first-quarter earnings as the recession and falling cargo volume spread to its fleet management business... The company earned $6.8 million in the quarter, compared with $56.1 million a year earlier. Revenue dropped 22 percent to $1.2 billion from $1.54 billion. The quarter also included a $6.9 million restructuring charge...* Canada - Vitran Loses $2.4 M in Q1
Toronto,ONT,CAN -The Journal of Commerce, by Thomas L. Gallagher -Apr 22, 2009: -- Trucking, logistics firm improves on fourth quarter results... North American trucking and logistics firm Vitran reported a net loss of $2.4 million on revenue of $139.6 million for the quarter ended March 31, 2009. In the comparable 2008 three-month period, the company earned net income of $1.1 million on revenue of $177.5 million... Lower fuel surcharges and the foreign exchange on Canadian operations accounted for approximately $22 million of the $37.9 million decline in revenue, the company said. The rest of the 21 percent drop in revenue was due to weak demand, especially in the less-than-truckload segment...* USA - ABF Loses $29 Million in First Quarter - Intense competition slices rates as truckload demand tumbles
Fort Smith,Ark,USA -The Journal of Commerce, by John Gallagher -Apr 22, 2009: -- Less-than-truckload giant Arkansas Best lost $29 million in the first quarter due to plummeting freight demand and falling rates pared down by intense competition... Revenue at ABF Freight System, the company’s transportation subsidiary, dropped 23.3 percent to $323.1 million in the quarter from $427.7 million in first quarter 2008. Tonnage per day decreased 15.7 percent compared with the 2008 quarter, and ABF’s operating ratio, a key measure of operating efficiency, worsened to 108.3 percent from 97.0 percent in first quarter 2008...* USA - Forward Air Posts $3.1 Million Loss
Greeneville,TN,USA -The Journal of Commerce -Apr 21, 2009: -- Air freight trucking volume, revenue fall sharply to start the year... Forward Air lost $3.1 million in the first quarter as the company saw accelerating declines in its core air freight trucking volume and took an impairment charge to meet the deteriorating market... Without a $7.2 million charge, Forward Air registered a $2.1 million operating profit in the first three months of 2009, down some 90 percent from the same period a year ago...* USA - Refrigerated Trucker's Profit Soars
Mondovi,WI,USA -The Journal of Commerce, by John Gallagher -Apr 22, 2009: -- Lower fuel costs, higher intermodal revenue boost Marten bottom line... Marten Transport profit jumped 52.8 percent to $4.1 million in the first quarter despite falling revenue in the stalled economy... Revenue decreased 14.9 percent to $122 million in the quarter from $143.4 million in the 2008 quarter. The decrease was primarily due to a steep decline in fuel surcharge revenue -- from $28 million in first quarter 2008 to $10.8 million in the most recent quarter -- as pump prices plummeted since reaching a high point last July...Labels: trucking industry news USA
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