National trucker TransForce Inc. slowed by recession

Mike

Well-Known Member
The recession kept Montreal-based national trucker TransForce Inc. in the slow lane in the third quarter. Revenue was down a hefty 24 per cent from a year earlier, with operations in energy-rich Western Canada taking the worst hit.

Earnings were $17 million, or 19 cents a share, in the September quarter, down from $26.5 million, or 31 cents a share, a year earlier, on revenue of $451.4 million, down from $595.5 million.

TransForce operates in the heavy haulage, less-than-truckload and parcel delivery segments across the country and also in specialized trucking for the oil and gas industry in the West. Its largest single shareholder is Lino Saputo Sr., founder of cheesemaker Saputo Inc., via his personal holding company.

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