OTTAWA, Ont. — The nation’s largest for-hire motor carriers 80 Canadian-based companies earning $25 million or more annually increased their revenues 26% in the fourth quarter of 2004 compared to the same quarter the previous year, Statistics Canada records released this week indicate.
The rise in average revenue followed from both improved financial results and consolidations through acquisitions. There were 90 top carriers as of the fourth quarter of 2003.
Average per-carrier revenue in the fourth quarter reached $26.7 million. In total, the carriers generated operating revenue of $2.14 billion and expenses of $1.98 billion in the fourth quarter.
The top for-hire carriers’ operating ratio also showed improvement, dropping to 0.93, compared with 0.95 in the fourth quarter of 2003. The operating ratio is measure of operating expenses divided by operating revenue. A ratio greater than 1.00 represents an operating loss.
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