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Looking good

Published Tuesday, June 01, 2004

Despite a tight labor market and higher fuel costs, most Truckload and LTL carriers showed remarkably higher profits for the first quarter. For example, SCS Transportation posted net income of $2.6 million, a 97% increase over the same period last year. CNF Inc. said profits rose 47% mainly because of its Con-Way Transportation division. J.B. Hunt, the nation's largest publicly held truckload carrier, posted net income of $33 million, compared to $11.2 million a year ago. Economists looking for a single reason will be disappointed. Industry observers say that fleets that charged for detention fees, instituted fuel surcharges ...

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