Top Carriers See Volume and Revenue Growth

Aug. 9, 2004
Average daily package volume rose to 13.6 million at UPS, a net gain of 550,000 packages per day from the year-earlier period. The carrier reported an

Average daily package volume rose to 13.6 million at UPS, a net gain of 550,000 packages per day from the year-earlier period. The carrier reported an 18.2% gain in net income for the period on a 7.8% increase in revenue – with strong growth in its global package business.

FedEx, which closed its fiscal year May 31st, reported revenues were up 21% to $7.04 billion and operating income rose 39% to $685 million. Net income was $412 million, up 47% from the prior year. Total daily package volume at FedEx Express and FedEx Ground rose 7% in the quarter due to growth in U.S. domestic express shipments and strong growth in international express shipments.

Yellow Roadway Corp. reported second quarter operating revenue of $1.67 billion, up 15% from pro forma second quarter 2003 operating revenue. The company posted pre-tax income of $76.28 million.

Yellow Roadway Corp.’s Yellow Transportation unit reported record revenue of $793 million for the quarter, a 14.6% increase over second-quarter 2003. Roadway Express had revenues of $768 million, up 3.5% from the 2003 quarter. New Penn Motor Express, another Yellow Roadway unit, had revenues of $64.3 million, up 17.6% from 2003.

Operating ratios for Yellow Roadway companies in the first half of 2004 were: Yellow Transportation 95.3, Roadway Express 96.5, and New Penn 87.6.

Swift Transportation saw its second quarter and first half improve over the prior-year periods. Revenues for the quarter rose 18.1% to $691 million. This included 7% from the acquisition of Merit Distribution Services. Excluding fuel surcharge revenues, the carrier’s second quarter was 15.8% ahead of the same period in 2003.

For the first half of 2004, revenues were up 15.6% to $1.3 billion (including Merit Distribution). Excluding fuel surcharges, revenues increased 14.4% and net earnings were $41 million.

Truckload carrier Heartland Express saw a 10.4% increase in revenues during the second quarter and improved its operating ratio to 79.3. USF reported trucking revenues of $518 million, up 9.7% and income of $37.3 million, up 46.9% from 2Q2003. Its operating ratio improved to 92.8.

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