Celadon’s 3Q Profit More Than Doubles
Celadon Group’s fiscal third-quarter net income more than doubled, on higher freight revenue.
Net income rose to $5.7 million, or 25 cents per share, from $2.3 million, or 10 cents, a year earlier.
Revenue for the quarter March 31 rose 10.5% $153.2 million from a year ago, the truckload carrier said late Tuesday.
Freight revenue excluding fuel surcharges rose to $112.4 million, from $111.6 million.
“An increase in loaded miles and a 2.7% increase in rate per loaded mile, were the principal factors attributing to the improved results,” Chairman and CEO Steve Russell said in a statement.
Celadon Group is ranked No. 42 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
