Trucking and logistics firm Mullen Group reports Q2 profit and revenue down

Jul 20, 2023

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Mullen trucks burning compressed natural gas provided by Tourmaline via Clean Energy. Mullen Group screen capture

OKOTOKS, Alta. — Mullen Group Ltd. reported its second-quarter profit fell compared with a year ago as the trucking and logistics company saw lower freight volumes.

The company says it earned $36.5 million or 39 cents per diluted share for the quarter ended June 30.

The result was down from a profit of $42.7 million or 43 cents per diluted share in the same quarter last year.

The Mullen Group Ltd. logo is seen in this undated handout photo. Mullen Group Ltd. reported its second-quarter profit fell compared with a year ago as the trucking and logistics company saw lower freight volumes. THE CANADIAN PRESS/HO

 

Revenue totalled $494.3 million, down from $521.5 million a year earlier.

On an adjusted basis, Mullen Group says it earned 38 cents per share in its latest quarter, down from an adjusted profit of 47 cents in the same quarter last year.

Analysts on average had expected an adjusted profit of 32 cents per share, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published July 20, 2023.

Companies in this story: (TSX:MTL)

The Canadian Press

News from © The Canadian Press, 2023. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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