SCS’ First-Quarter Earnings Decline

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CS Transportation said late Thursday it earned $2.4 million or 16 cents in the first quarter, down from $4 million or 26 cents a year earlier.

Revenue rose 13% to $287 million, the company reported.

Its regional less-than-truckload unit, Saia Motor Freight Line, saw its revenue rise 23% to $205 million. LTL tonnage rose 15% and operating income climbed 39% to $12.5 million.

LTL and truckload unit Jevic Transportation’s revenue fell 2% to $84 million, while tonnage fell 5%. Jevic’s reported an operating loss of $2.3 million.

Despite continued service consistency, Jevic volumes were impacted by a combination of increased competitive pressure following recent corporate publicity, an unseasonably warm winter which hurt its freeze protection business, and excess truckload capacity, SCS’ Chief Executive Officer Bert Trucksess said in a statement.

“The volume weakness produced unfavorable operating leverage, which more than offset progress on cost management initiatives,” he said in a statement.

Some of SCS’ major investors said earlier this year that it should consider selling Jevic, though that dispute was settle last month. (Click here for previous coverage.)

SCS Transportation is ranked No. 24 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.