LTL Carriers Highly Profitable

Feb. 2, 2005
Words like “exceptional” and “record breaking” weren’t uncommon in motor carriers’ announcements of fourth quarter 2004 and full-year financial results, but volume growth in January 2005 was starting to slow

Words like “exceptional” and “record breaking” weren’t uncommon in motor carriers’ announcements of fourth quarter 2004 and full-year financial results, but volume growth in January 2005 was starting to slow.

ABF Freight System reported fourth-quarter 2004 revenues of $420.3 million and operating income of $40.1 million. Its operating ratio was 90.5. Full-year results were $1.59 billion in revenues and $127.8 million in operating income.

ABF Corp., parent of ABF Freight System reported $24.4 million net income in the fourth quarter on $454.5 million in revenues. It’s total net income for 2004 was $75.5 million on revenues of $1.72 billion.

Overnite Transportation completed its first full year as an independent company. Volumes were up 5.6% in the fourth quarter, but had started to slow in January. Revenues for the fourth quarter were $421.4 million, and net income was $16.6 million. Its fourth-quarter operating ratio was 93.4. Operating revenues for the full year were $1.6 billion, and net income was $63.3 million, yielding a 93.4 operating ratio for the full year.

Yellow Roadway Corp. reported combined results for its first full year. Operating revenues for the fourth quarter were $1.77 billion, and net operating income was $107 million. Full year operating revenues were $6.77 billion, and operating income was $357 million.

Roadway Express, now part of Yellow Roadway, reported fourth-quarter revenues of $822 million and operating income of $53 million. Annual operating revenues were $3.1 billion, and net operating income was $156.9 million.

Yellow Transportation reported fourth quarter revenues of $824.5 million and annual revenues of $3.18 billion. It stated its operating ratio for the fourth quarter was 93.5.

New Penn Motor Express, which is also part of the Yellow Roadway Corp., reported $69.47 million in operating revenues and $8.7 million in operating income in the fourth quarter. It’s full-year results were $260.6 million in revenues and $33.9 million in operating income. It gave its operating ratio as 87.5.

Old Dominion Freight Line reported revenues of $224 million in the fourth quarter, with net income of $10.6 million. Revenues for the year were $824 million, and net income was $38.9 million. Its operating ratio was 91.4.

CNF Corp., digesting the sale of Menlo Worldwide Forwarding, was facing some additional cost overheads. The company reported after-tax income of $41.1 million on continuing operations total revenues for the period were $967.5 million. Full-year results from continuing operations were $142.2 million income on $3.7 billion in revenues.

CNF’s less-than-truckload operation, Con-Way Transportation Services, delivered $667.8 million in revenues and $63.8 million in operating income for the fourth quarter. Full-year operating income was $245.5 million on revenues of $2.6 billion.

USF Corp. reported fourth quarter income of $6.6 million on revenues of $584 million. The company also reported $2.4 billion in revenues from continuing operations, yielding $23.8 million in operating income after including the effects of closing USF Red Star.

Click here to monitor stock performance of leading logistics providers, use Logistics Today’s LT 50, an index based on the top 50 transportation, technology, and logistics services companies.

Latest from Transportation & Distribution

96378710 © Nattapong Boonchuenchom | Dreamstime.com
#53673151@Petar Dojkic|Dreamstime
Trucking Industry Objects to DOL Rule on Contractors
Trucking Industry Objects to DOL Rule on Contractors
Trucking Industry Objects to DOL Rule on Contractors
Trucking Industry Objects to DOL Rule on Contractors
Trucking Industry Objects to DOL Rule on Contractors