Top carrier financial performance slips in third quarter

OTTAWA, Ont. — The operating ratio for Canada’s top for-hire motor carriers slipped to 0.95 in the third quarter of 2003, compared to 0.94 for the same quarter the previous year.

Operating ratio is a measure of carrier expenses divided by operating revenues. A ratio of greater than 1.00 represents an operating loss.

The nation’s top carriers — the 90 companies earning $25 million or more annually —
generated operating revenues of $1.93 billion and expenses of $1.83 billion in the third quarter. Average per-carrier revenues and expenses decreased slightly from the third quarter of 2002. Both financial indicators decreased about 1 % recording $21.4 million and 20.3 million respectively.

There was good news during the third quarter however. Seven more carriers joined the elite group of trucking companies earning at least $25 million annually.

For more information, contact Jean-Robert Larocque (613-951-2486; fax: 613-951-0579; laroque@statcan.ca) or Denis Pilon (613-951-2707;
denis.pilon@statcan.ca), Transportation Division.