Titanium earnings slide as trucking conditions normalize

Titanium is the last of Canada’s publicly traded companies to report Q2 earnings, and like its peers it was unable to match record year-ago numbers. Consolidated revenue totaled $100.4 million,…

VMC delivered 34 trucks in Q2, opened Washington plant

Canadian electric truck maker Vicinity Motor Corp. (VMC) has commenced production at its Ferndale, Wash., plant and delivered 34 VMC 1200 trucks in the second quarter. The truck orders generated…

Lion Electric doubles Q2 revenue, has 1,400 vehicles on the road

Lion Electric reported record revenue in the second quarter of $58 million (all figures U.S.), nearly double the same period last year. It recorded a net loss of $11.8 million.

Mullen’s revenue, profit slide compared to a year ago

Mullen Group’s Q2 revenue and net income slid as freight demand softened and pricing normalized. The company reported $494.3 million in revenue for the quarter, down 5.2%, year over year,…

Titanium’s trucking margin improvements help it grind out Q1 profit

Titanium Transportation Group earned net income of $3.6 million in Q1, but deteriorating market conditions were reflected in a 22% decrease in revenue and 40% decline in net income. The…

Mullen bucks trend with record Q1 earnings

Mullen Group has bucked a trend among publicly traded fleets by recording record Q1 earnings, including a 9% increase in revenue and 93% surge in net income. Senior executive officer…

TFI earnings fell in Q1, but market conditions creating M&A opportunities

TFI International suffered declines in revenue and net income in the first quarter, but feels optimistic conditions are ripe for a meaningful acquisition later this year. The company posted Q1…

‘Offense is best defense’ in slowing economy: Titanium CEO

Titanium Transportation ended 2022 with a 24% increase in revenue to $496 million, and net income of $22.8 million, a 394% increase even after weathering Q4 challenges such as rising…

Lion surpasses 10M miles on electric vehicles

Lion Electric delivered 174 electric trucks and buses in the fourth quarter of 2022, generating revenue of US$46.8 million (all figures U.S.) and a net loss of $4.6 million. For…

Mullen posts record Q4, turns focus to cost controls and productivity improvements

Acquisitions, fuel surcharges, and rate increases pushed Mullen Group’s Q4 revenue and net income to record highs. “It took a total team effort, some very favorable market conditions, and a…

TFI International posts Q4 results, discloses position in ArcBest

TFI International grew profits to $153.5 million (all figures US) in the fourth quarter, a 6% jump year over year on lower revenues of $1.96 billion, down from $2.14 billion.

Cummins revenues buoyed by Meritor acquisition

The acquisition of Meritor added US$1.2 billion (all figures U.S.) to Cummins’ Q4 revenue, driving revenue to $7.8 billion with a $631-million profit. Excluding Meritor’s contribution in its first complete…

Titanium achieves record Q3 results, despite softening market conditions

Titanium Transportation grew consolidated revenue 11.5% year over year in the third quarter, to $113.4 million. Logistics segment revenue inched up 0.3% to $59.6 million while truck transportation revenue grew…

TFI’s Bedard unfazed by slowdown: ‘We like a storm’

TFI International grew revenue and profit in the third quarter, in the face of “broader macro uncertainty.” Profit increased 86% year over year to $245.2 million (all figures U.S.) in…

Mullen reports record Q3 earnings, maintains positive outlook

Record third quarter earnings at Mullen Group were not telling of a cratering economy, and chairman and senior executive officer Murray Mullen anticipates a strong close to the year before…