Tank truck carrier Quality Distribution said its second-quarter profit jumped on acquisitions and growth in its energy logistics business.
Net income rose to $28.8 million, or $1.04 per share, from $9 million, or 37 cents, a year ago, the carrier said late Monday.
Revenue rose 12% to $212.7 million. Operating income fell 20.6% to $13.4 million but excluding items would have risen 7.9% to $17.7 million.
Last Wednesday, Quality completed its acquisition of Dunn’s Tank Services and Nassau Disposal for about $34.3 million, following several acquisitions earlier this year.
Quality Distribution is ranked No. 38 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.