Norseman/Hank's Truck Forum
Quality Distribution Inc. reported its first-quarter net income declined in part on severe weather conditions.
Net income declined to $3.1 million, or 11 cents per share, from $9.1 million, or 34 cents, a year ago, the company reported May 5.
Revenue rose 2.2% to $234.5 million, the tank truck carrier said. Excluding fuel charges, revenue increased $5.3 million.
“Each of our business segments performed well this quarter once weather conditions improved, resulting in adjusted earnings that met the high end of our expectations,” Chairman and CEO Gary Enzor said in a statement.
“We look forward to carrying this momentum into our stronger seasonal quarters as all indicators point to solid revenue expectations across our segments, most notably in our chemical business,” he said.