For-hire carrier revenues fall; expenses rise from 2002

OTTAWA, (March 2, 2004) — Statistics Canada has reported that the number of for-hire trucking companies with annual revenues of $1 million or more dropped slightly to 2,799 in the third quarter of 2003 from 2,941 during the same period the year before.

Their operating revenues totalled $5.2 billion in the third quarter, and their operating expenses reached almost $4.8 billion, both up 2 per cent from 2002.

Average operating revenues and expenses per carrier both increase around 7 per cent from the third quarter of 2002. Average operating revenues were at $1.86 million, up from $1.73 million. Average expenses were at $1.72 million, up from $1.61 million.

The results were especially driven by increases in average costs of fuel (up 13 per cent) and payments to owner-operators (up 13 per cent), Stats Can reported.

For-hire trucking transportation revenues from international movements decreased 4 per cent to $1.80 billion from $1.87 billion in the third quarter of 2002. Revenues from outbound movements were up 2 per cent, and revenues from inbound movements decreased by 9 per cent.