Transport Corp. of America’s 2Q Profit Drops
ruckload carrier Transport Corp. of America said Tuesday its second-quarter earnings fell to $514,000 or 8 cents a share, down from $795,000 or 12 cents a year earlier.
The company’s revenue dipped to $62.8 million from $65.2 million a year ago.
“While the freight market softened from prior year levels, we continued to benefit from an environment of increasing freight rates,” Chief Executive Officer Michael Paxton said in a statement.
The company also said it reduced its debt for the 21st straight quarter, to $48.2 million from $48.8 million.
ransport Corp. of America is ranked No. 76 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.
