More for-hire truckers top $1 million mark in ’04

OTTAWA, (Sept. 2, 2004) — The number of Canadian for-hire trucking companies with $1 million revenues or more shot up 10 per cent in the first quarter this year compared to the same period in 2003.

An estimated 3,260 for-hire trucking companies topped the $1 million mark, Stats Canada reports.

The operating revenues totalled $6.16 billion while their operating expenses reached $5.84 billion — both up 14 per cent from the first quarter of 2003. The increase in expenses was mainly driven by higher payments to owner operators (up 20%) and maintenance expenses ( up 18%).

Average operating revenues and expenses per carrier both increased 4 per cent from the same period in 2003. Average operating revenues were $1.89 million, up from $1.82 million and average expenses were $1.79 million, up from $1.73 million.