OTTAWA, Ont. – Canadas largest carriers boosted their revenues by an average of 14 per cent in the first quarter of 2000 compared to a year ago, according to Statistics Canada.

The top 82 for-hire carriers (trucking companies earning more $25 million or more annually) generated operating revenues of $1.65 billion during the first three months of the year. However, operating expenses ballooned to $19.1 billion, also an increase of 14 per cent over the first quarter of 1999.

After higher fuel expenditures in the third and fourth quarter of 1999, top carriers in the first quarter paid 34 per cent more for fuel than in the first quarter of 1999.

The operating ratio (operating expenses divided by operating revenues) for all top for-hire carriers and its largest sub-group, general freight carriers, was unchanged from the first quarter of 1999 at 0.95 (a ratio of greater than 1.00 represents an operating loss). However, revenues outpaced expenses among carriers hauling bulk liquids, dry bulk materials, forest products and other specialized freight, resulting in an improvement of two points in the specialized freight carrier operating ratio (0.94) over the first quarter of 1999. n