Vitran Revises Earnings Guidance for 2006
oronto-based transportation and logistics firm Vitran Corp. on Wednesday revised its earnings guidance for 2006 to $1.48 to $1.52 a share, down from $1.63 to $1.73.
The Canadian company cited impacts of a softening economy on its U.S. truckload and less-than-truckload segments in addition to higher-than-expected healthcare and worker’s compensation costs.
"Although key LTL metrics such as segment revenue, weight, shipment count and revenue per hundredweight are all showing positive year-over-year and quarter-over-quarter comparisons, our legacy U.S. central states territory is not performing to plan,” a company official said in a statement. “Health care costs are estimated at $1.5 million above 2005 levels, and workers' compensation expenses are anticipated to be approximately $1.0 million higher than the prior year.”
