Quality Posts Higher 1Q Profit
Tank truck carrier Quality Distribution’s first-quarter profit jumped on stronger energy logistics and intermodal business.
Net income rose to $6.7 million, or 26 cents a share, from $2.7 million, or 12 cents, a year ago, the carrier said late Monday.
Revenue rose 7.9% to $191.9 million. Operating income rose 13.5% to $13.8 million.
In April, Quality bought Trojan Vacuum Services, a transportation provider for the oil and gas industry in the Eagle Ford shale region of Texas, for $8.7 million.
Quality Distribution is ranked No. 33 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
