David Benjatschek added to Driving for Profit line-up

2014-01-12

MISSISSAUGA, Ont. -- David Benjatschek, author, leadership trainer and founder of Wowtrucks, will be speaking at the Jan. 21 Driving for Profit seminar.

Benjatschek has been added to a line-up that already includes: Tom Kretsinger Jr., TCA chair and president of American Central Transport; Chris Burruss, president of TCA; and Dave Heller, director of safety and policy with TCA.

Benjatschek will provide an update on the Wowtrucks Driver Survey and “leave a powerful key to recruiting and retaining the best talent for your organization,” organizers announced.

Truck News and Fleet Executive publisher Lou Smyrlis will moderate sessions and Ray Haight of Transrep will emcee.

The seminar series is hosted by NAL Insurance and sponsored by Truck News, Dalton Timmis Insurance and Daimler Truck Financial.

The cost to attend is $85 and the half-day seminar includes lunch. It is held at the Capital Banquet Centre in Mississauga. For more details or to register, visit www.drivingforprofit.com.

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Mullen Group's Profit Rises 9.6 Percent in 2012

JOC Staff | Feb 21, 2013 12:02PM EST

Mullen Group reported its profit for 2012 was $130.9 million, up 9.6 percent from $119.4 million in 2011.

Annual revenue was a record $1.43 billion, rising 2.9 percent from $1.39 billion in 2011. The year-over-year gain was driven primarily by revenue increases in the first and second quarters of 2012, compared with the same quarters in 2011, which were somewhat offset by a decreased revenues in the third and fourth quarters of 2012, compared with the same quarters in 2011, the transportation company said in a written statement.

Net income in the fourth quarter of 2012 was $21.8 million, falling 54.1 percent from $47.5 million in the fourth quarter of 2011.

Quarterly revenue was $346.1 million, falling 12.2 percent from $394.1 million in the same quarter in the previous year. The decrease in revenue was primarily because of decreased revenue experienced in the oilfield services segment, which reported a $47.7 million reduction in revenue in the fourth quarter of 2012 compared with the same period in 2011.

“What I am particularly pleased with, in addition to our record operating results, is the validation that our business model works very well, as is evidenced in the strength of Mullen Group’s balance sheet, which includes $122.8 million in cash,” said Murray K. Mullen, chairman and CEO, in a written statement.

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Eurotunnel Profit Soars; Truck Traffic Sets Record

Groupe Eurotunnel more than tripled its profit in 2012 as it transported a record number of trucks through its subsea rail link between the U.K. and France.

Net income grew to 34 million euros ($43.9 million) from 11 million euros ($14.2 million) in 2011 as revenue jumped 16 percent to 1 billion euros ($1.29 billion) as the London Olympics boosted passenger numbers to almost 20 million.

The Anglo French group earned $595 million before interest, tax, depreciation and amortization, an increase of 10 percent on the previous year.

The number of trucks transported on shuttle trains increased 16 percent to 1.46 million, boosting the tunnel’s U.K.-France market share by 5 percentage points to a record 43.5 percent.

The truck market, which is also served by ferries, grew an estimated 2.5 percent in 2012, but remains about 10 percent below the pre-recession peak in 2007.

The number of freight trains traveling through the 30-mile-long tunnel declined 3 percent, and tonnage was 7 percent lower at 1.23 million tons, reflecting the decision of SNCF, France’s state-owned railway, to cease its cross-channel wagon load business.

Europorte, the group’s rail freight unit, boosted its revenue, however, by 28 percent, to $270 million and made a modest $3.9 million profit compared with a year-earlier loss of $1 million.

Eurotunnel is awaiting a final ruling from U.K. regulators, due in mid-April, on its $84 million acquisition of three ships owned by SNCF’s bankrupt shipping unit Sea France, which it is now deploying in a new shipping line, MyFerryLink.

In an interim ruling, U.K. regulators said Eurotunnel’s entry into the shipping market would push up freight and passenger fares, particularly if the extra capacity forced another ferry line to quit the cross-channel route.

This has put U.K. regulators on a collision course with their French counterparts who approved the acquisition on condition that Eurotunnel does not cross-market cargo services on rail and ships for five years. 

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Fall Driving for Profit session to feature top execs from Prime, TCA

MISSISSAUGA, Ont. -- The second installment of the 2012 Driving for Profit Series is coming to Mississauga Nov. 13.

The event, sponsored by Truck News, Dalton Timmis Insurance and Daimler Truck Financial, will feature Robert Low, president and founder of Prime Inc., taking part in the series’ ongoing “How We Did It” session.

The second session will see Chris Burruss and Dave Heller, president and director of safety and policy for the Truckload Carriers Association, respectively, speaking on US regulatory environment and its potential impact on Canadian motor carriers.

Truck News editorial director Lou Smyrlis will moderate both sessions, while TransRep CEO Ray Haight will act as Master of Ceremonies for the event.

The event will be held at the Capital Banquet Centre on Dixie Rd in Mississauga. Registration and continental breakfast start at 8 a.m., with the seminar getting underway at 9 a.m. A hot lunch will follow at noon. 

The cost to attend is $85. For more information or to register, visit www.drivingforprofit.com.

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Meritor's 4Q Profit Jumps on Stronger Truck Market

John Sommers II for TT

Components maker Meritor Inc. said Tuesday its fiscal fourth-quarter profit jumped from a year ago on a stronger global truck market.

Net income rose to $31 million, or 32 cents per share, from $2 million, or 2 cents. Sales jumped 29% to $1.2 billion.

“Commercial truck demand globally remained strong,” Chairman and CEO Chip McClure said in a statement.

Adjusted income from continuing operations jumped to $43 million, from $14 million a year ago.

Its commercial truck segment’s sales rose to $768 million, up from $5547 million a year ago. Adjusted earnings before interest, taxes, depreciation and amortization almost doubled to $49 million, from $25 million.

Its aftermarket and trailer segment posted sales of $274 million, up from $237 million. Adjusted EBITDA for the segment rose $10 million to $32 million.

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TravelCenters' 3Q Profit Jumps

TravelCenters of America said Monday its third-quarter earnings jumped from a year ago as fuel sales increased.

The truck stop chain’s net income rose to $20.7 million, or 74 cents per share, from $4.5 million, or 26 cents, a year ago.

Revenue rose to $2.1 billion, from $1.5 billion, TA said in a statement. Fuel sales volume rose 4.8% from a year ago.

TA entered into four new franchise agreements with operators of travel centers this year, including one in Alabama and one in Virginia during the third quarter.

It said it expects that those two franchisee owned and operated sites will begin to operate under the Petro Stopping Centers and TA brands in December.

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TNT Express' 3Q Profit Declines

TNT Express NV, Europe’s second largest post company, said its third-quarter earnings fell to about $7 million, from about $19 million a year earlier, Bloomberg reported.

Revenue rose 1.3% year-over-year to about $2.4 billion, said TNT, which reports its earnings in euros.

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Intermec Swings to 3Q Profit

Supply chain technology firm Intermec Inc. said it posted third-quarter earnings of $700,000, or 1 cent per share, compared with a loss of $6.9 million, or 11 cents, a year ago.

Revenue grew to $212 million for the quarter ended Oct. 2, from $169 million a year ago, the company said in a statement.

Intermec said it expected fourth-quarter profits to be 8 cents to 13 cents per share on revenues of $235 million to $245 million.

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Con-way Swings to 3Q Profit

Con-way Inc.

Con-way Inc. late Thursday reported a third-quarter profit compared with a loss a year ago, as its truckload, less-than-truckload and logistics operations all improved.

Net income $29.1 million, or 52 cents a share, turning around a loss of $8.2 million, or 15 cents, a year ago.

Revenue rose 8.4% to $1.27 billion, Con-way said in a statement. Operating income jumped to $61.1 million, from $12.5 million a year ago.

LTL unit Con-way Freight, the company’s largest business, saw its operating income jump to $40.7 million, from $13.1 million a year ago. Revenue gained 5.8% to $843.3 million.

LTL tonnage per-day fell 5.5%, but revenue per hundredweight rose 12%.

Con-way Truckload’s operating income rose to $7.9 million, from $5.5 million, while revenue improved 12.8% to $158.7 million.

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Roadrunner's Third-Quarter Profit Grows

Roadrunner Transportation

Roadrunner Transportation Systems’ third-quarter profit climbed to $7.2 million, or 23 cents a share, from $4.4 million, or 14 cents, a year ago.

The company, which went public last year, said late Wednesday its revenue rose 38.2% to $226 million.

Less-than-truckload revenue rose 17.7% including fuel to $126 million, while truckload revenue jumped 102.9% to $79 million.

In the transportation management solutions segment, revenue climbed 20.6% to $22 million.

CEO Mark DiBlasi attributed Roadrunner’s improved LTL revenue to new customer growth and expansion into new markets.

DiBlasi said truckload revenue growth was driven by the company’s acquisitions of Morgan Southern in February, Bruenger Trucking in May and Prime Logistics Corp. in August. Prime Logistics Corp. is not connected to refrigerated hauler Prime Inc.

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Driving for Profit registration deadline one week away

LONDON, Ont. - The deadline to register for the next Driving for Profit seminar is just one week away. 

The event, be held at the Capitol Banquet Centre in Mississauga, Ont., Nov. 8., will feature former Truckload Carriers Association (TCA) chairman Ray Haight as Master of Ceremonies.

Guest speakers at the event will include David Bradley, president and CEO of the Ontario Trucking Association, and Chris Burruss, president of the TCA. Their session will focus on the future of the trucking industry in both Canada and the US. Truck News editorial director Lou Smyrlis will moderate the session.

Gary Salisbury, president and CEO of Arkansas-based Fikes Truck Line, will be speaking at the event's "How we did it" session. The session will highlight how Fikes has grown from an 11-truck company to a $70+ million transportation firm under Salisbury's leadership. Salisbury will also offer recruiting and retention tips using examples from some of Fikes' own cutting-edge programs.

"The Driving for Profit team is thrilled to have these gentlemen attend and speak at our next event. They are leaders in the industry and we are confident they will provide the audience with ideas they can take back to their own companies," said Aaron Lindsay, partner in the Driving for Profit seminar series.

To register for the event, visit www.drivingforprofit.com.

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Arkansas Best Posts 3Q Profit

Tom Biery/Trans Pixs

Arkansas Best Corp. swung to a third-quarter profit from loss a year ago on improved pricing, the company said Friday.

Net income was $12.3 million, or 46 cents a share, compared with loss of $700,000, or 3 cents, a year ago.

Revenue rose to $510.9 million, a 14.7% per-day increase over last year.

ABF Freight System, its less-than-truckload operation and largest business unit, had operating income of $18.3 million, turning around an operating loss of $2.6 million a year ago.

ABF’s revenue rose to $466.3 million, a per-day increase of 13.8%, while tonnage per day slipped 2% from a year ago.

Since March, ABF’s year-over-year change in monthly tonnage has moderated, and beginning in August tonnage has been below that of the same period last year, said CEO Judy McReynolds.

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Old Dominion's 3Q Profit Jumps

TT File Photo

Old Dominion Freight Line said Thursday its third-quarter profit rose almost 60% and its revenue reached a third-quarter record.

Net income rose to $38.6 million, or 67 cents per share, from $24.4 million, 44 cents, for the same quarter last year.

Revenue jumped 24.9% to $494.5 million, the less-than-truckload carrier said in a statement. Total tons rose 9.6% and total shipments rose 12.2%.

The company opened new service centers in Wisconsin and Pennsylvania in the quarter, and one in Ohio in October, bringing its total to 216, CEO David Congdon said in a statement.

Old Dominion Freight Line is ranked No. 18 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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Universal Truckload's 3Q Profit Improves

Universal Truckload Services said its third-quarter profit increased on higher truckload revenue.

Net income climbed to $5.4 million, or 35 cents a share, from $2.9 million, or 18 cents, a year ago.

Revenue for the quarter ended Oct. 1 rose 19.9% to $187.5 million, the company said late Thursday.

Truckload revenue climbed 16.8% to $111 million.

Universal Truckload is ranked No. 40 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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Kansas City Southern's 3Q Profit Doubles

Kansas City Southern reported its third-quarter earnings rose to $100 million, or 91 cents a share, from $50 million, or 48 cents, the previous year.

The railroad’s revenue increased 24% to a record $545 million, it said last week.

Carload volumes increased 13%. Revenue grew in all commodity groups, led by a 58% gain in automotive.

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Ford Reports $1.6 Billion 3Q Profit

Ford Motor Co. said Wednesday its third-quarter earnings slipped 2% to $1.6 billion.

Earning dipped to 41 cents per share, from 43 cents a year ago, while revenue rose 14% to $33.1 billion, the automaker said.

In the past few week’s Ford’s workers approved a new four-year contract with the United Auto Workers that will increase the company's labor costs by less than 1% per year, the Associated Press reported.

Ford expects to add 5,750 new workers in the U.S. under the contract, but they will make lower wages than its longtime factory workers, AP said.

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Norfolk Southern Reports Higher 3Q Profit

Norfolk Southern Corp.’s third-quarter profit rose 24 percent from the same quarter last year, the Eastern freight railroad reported.

Net income rose to $554 million, or $1.59 per share, up from $445 million, or $1.19 per share, a year ago, the rail line said in a statement late Wednesday.

Railway operating revenue rose 18% to $2.9 billion.

Intermodal revenue rose 19% to $551 million, and general merchandise revenue rose 12% to $1.4 billion. Coal revenue gained 27% to $899 million.

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Cummins Posts Higher 3Q Profit, Trims 2011 Outlook

Cummins Inc. said Tuesday its third-quarter profit rose 60% from a year ago, but the engine maker trimmed its full-year revenue outlook due to “uncertainty around the macro-economic environment.”

Third-quarter net income climbed to $452 million, or $2.35 a share, from $283 million, or $1.44, a year ago. Sales for the quarter ended Sept. 25 rose 36% to $4.6 billion.

Cummins lowered its full-year sales forecast to $17.5 billion to $18 billion, down from a previously projected $18 billion.

President and Chief Operating Officer Tom Linebarger said “government actions to reduce inflation in India and China resulted in softer near-term demand than we previously expected.”

“This, along with the recent strengthening of the U.S. dollar, has caused us to slightly soften full year revenue guidance to a range of $17.5 to $18 billion, which would represent an increase of over $4 billion, or over 30%, compared to 2010,” he said in a statement.

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Paccar's 3Q Profit More Than Doubles

Truck and engine maker Paccar Inc. said Tuesday its third-quarter profit more than doubled from a year ago, on higher truck sales.

Net income rose to $281.6 million, or 77 cents per share, from $119.9 million, or 33 cents, a year ago. Revenue jumped to a record $4.26 billion, from $2.54 billion.

Paccar held its industrywide 2011 North American Class 8 truck sales forecast to between 180,000 and 200,000 trucks, and its “customers are benefiting from higher freight tonnage and improved freight rates,” Paccar Executive Vice President Dan Sobic said in a statement.

For the nine months of 2011, Paccar — the parent company of Kenworth Truck Co. and Peterbilt Motors Co., as well as Europe-based DAF — said it had a Class 8 market share of 27.7% in the U.S. and Canada, up a percentage point from the first half of the year.

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Caterpillar's 3Q Profit Tops $1 Billion; Revenue Hits Record

Heavy equipment maker Caterpillar Inc. said Monday its third-quarter profit jumped on higher sales.

Net income was $1.14 billion, or $1.71 per share, up from $792 million, or $1.22, a year ago.

Sales and revenue jumped 41% to of $15.72 billion, an all-time record for the company, Caterpillar said in a statement.

Caterpillar, which formerly made diesel truck engines, said in 2008 it was pulling out of the North American Class 8 truck engine market except for a truck and engine in partnership with Navistar International Corp.

Earlier this month Caterpillar and Navistar said the venture would become a unit of Navistar.

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