Vitran Corp. said Wednesday its second-quarter loss widened from a year ago, on sluggish performance in its U.S. less-than-truckload operations.
Its net loss widened to $17 million, or $1.03 per share, from a loss of $4.2 million, or 25 cents, a year ago.
Revenue fell 10% to $165.4 million, the Toronto-based carrier said in a statement.
Its earnings “were weighed down by the operating results of the U.S. LTL business unit,” Interim CEO William Deluce said in a statement.
The company also took a $1.8 million severance charge associated with the April departure of former CEO Rick Gaetz.
Vitran is ranked No. 40 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.