OTTAWA, Ont. - Statistics Canada reported that the country's top 81 for-hire carriers of freight generated operating revenues of $1.70 billion during the third quarter.Although there were two fewer to...
OTTAWA, Ont. – Statistics Canada reported that the country’s top 81 for-hire carriers of freight generated operating revenues of $1.70 billion during the third quarter.
Although there were two fewer top carriers in the third quarter than in the third quarter of 1999, average revenue per carrier increased 11 per cent, to $21 million, while average expenses climbed 12.5 per cent, to $19.8 million.
Statistics Canada defines the top carriers as Canada-based trucking companies earning $25 million or more annually.
It also said that, on average, top carriers paid 39 per cent more for fuel than in the year-ago third quarter. These results mark the fourth consecutive quarter in which fuel expense rose by double digits.
The operating ratio (operating expenses divided by operating revenues) for all top carriers dropped from 0.93 in the third quarter of 1999 to 0.95 in the third quarter.
Ratios of greater than 1.00 represents an operating loss.
Additionally, Statistics Canada said that the 2,500 for-hire freight carriers in Canada, which earn more than $1 million annually, had a net profit of $438 million in 1999, down from $463 million in 1998.
The operating profit margin was at 4.7 per cent. Operating revenues reached $16.2 billion in 1999 and operating expenses totaled $15.4 billion in 1999, making for an operating ratio of 0.95. o
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