INDUSTRY PULSE: Revenues up, expenses down slightly for Canadian for-hire carriers

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OTTAWA, Ont. — Average operating revenues for Canadian for-hire carriers earning at least $1 million annually rose 1.0% to $2.05 million in the third quarter of 2005, while average operating expenses decreased marginally to $1.86 million, Statistics Canada reported today.

The decrease in average expenses was driven by lower expenses for purchased transportation, lower miscellaneous expenses and decreased payments to owner operators.

Operating revenues totalled $6.91 billion, up 9.5% from the third quarter of 2004. Operating expenses reached $6.28 billion, up 7.6% from the same period in 2004.

The operating ratio (operating expenses divided by operating revenues) improved to 0.91 from 0.92 for the same quarter in 2004.

For-hire trucking transportation revenues from domestic movements increased by 16.3% to $4.60 billion in the third quarter, up from $3.96 billion during the same quarter in 2004. In contrast, revenues from international movements decreased by 2.5%, while inbound movements decline by more than 11%.

There were an estimated 3,376 for-hire trucking companies based in Canada with annual revenues of $1 million or more in the third quarter of 2005, up 8.4% from the 3,115 carriers in the third quarter of 2004.

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