Financial performance of top for-hire carriers remains steady

The financial performance of Canada’s top 83 for-hire motor carriers of freight (Canada-based trucking companies earning $25 million or more annually) remained steady in the third quarter with carriers earning six cents on the dollar, according to Statistics Canada records.

The top for-hire carriers’ operating ratio (operating expenses divided by operating revenues) was 0.94, similar to the third quarter of 2001. A ratio of greater than 1.00 represents an operating loss. Arguably, a ratio of 0.94 or lower is considered healthy for trucking firms.

Average per-carrier revenue ($21.7 million) and expenses ($20.5 million) both increased by a little more than 1% from the third quarter of 2001. This financial situation of the top for-hire carriers is similar to that in the third quarter of 2001.

In total Canada’s top motor carriers generated operating revenues of $1.80 billion and expenses of $1.70 billion in the third quarter, according to Statistics Canada records.

For more information contact Denis Pilon (613-951-2707; fax: 613-951-0579; (dpilon@statcan.ca), Transportation Division.