It’s getting more crowded at the top for Canada’s for-hire carrier industry.
The list of top for-hire motor carriers (Canada-based trucking companies earning $25 million or more annually) grew by about 10% to 90 in the fourth quarter, according to Statistics Canada.
Those 90 carriers generated operating revenues of $1.93 billion and expenses of $1.83 billion in the fourth quarter.
As a result of the addition of eight top carriers (+10%), average per-carrier revenues decreased 2% to $21.4 million from the fourth quarter of 2002. Average per-carrier expenses decreased 3% to $20.3 million.
The operating ratio (operating expenses divided by operating revenues), however, remained steady at 0.95, the same as during fourth quarter of 2002 . A ratio below 1.00 represents an operating profit. Arguably, a ratio of 0.95 is considered healthy for the trucking industry.
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