Celadon Group Reports Increased 1Q Profit
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Celadon said in a statement that revenue from its largest customer — which it didn’t name — was reduced by more than 50% compared to the previous first quarter, but that revenue from all its other customers grew by 16%.
eladon Group Inc. reported it earned $2.7 million or 27 cents a share in the first quarter, up from $1.4 million or 18 cents in last year’s first quarter.
The truckload carrier had said April 1 that it expected its first-quarter earnings to be in the range of 24 cents to 26 cents per share.
The company’s operating revenue rose 9.8% to $108.5 million.
It also said it was able to recoup higher fuel costs through surcharges.
Celadon is ranked No. 49 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.
