Canada’s Titanium Transportation Group reported record revenue in the third quarter as executives told financial analysts that the cross-border transportation and logistics firm is working to negotiate higher rates with its customers.
“Nobody is shocked — and not a lot of pushback,” Chief Operating Officer Marilyn Daniel said during a conference call with analysts Wednesday. “Now it’s coupled with, ‘OK, can you do it?’ more than how much it is — no different than the way we buy our groceries...
The price of freight in Canada is poised to surge higher as demand continues to outstrip the capacity to move goods and government wage subsidies end, the CEO of one of the country’s largest trucking and logistics firms, Mullen Group, said Thursday.
“This has already occurred in the United States,” Murray Mullen told financial analysts. “In Canada, we are lagged on this market change but … I am of the view that we are in the early days of improved pricing. I can tell you this, our business units...
https://www.freightwaves.com/news/canada-freight-pricing-to-jump-mullen-group-ceo-says
Canadian trucking and logistics company Mullen Group (TSX:MTL) reported a double-digit jump in revenue in the second quarter Wednesday as it reaped the benefits of a strong freight market and acquisitions.
The Alberta-based firm reported net income of CA$21.7 million ($17.3 million), or 23 cents per share, on CA$312.5 million in revenue in its second-quarter financial results. It beat analysts’ estimates of 16 cents per share on CA$310 million in revenue, according to Yahoo Finance.
Revenue...
https://www.freightwaves.com/news/mullen-group-gets-lift-from-freight-market-acquisitions-in-q2
Canadian trucking and logistics firm Mullen Group (TSX:MTL) has added another acquisition to its belt, buying Manitoba carrier and brokerage R.S. Harris Transport, an open-deck transport specialist.
Mullen announced the deal on Friday. Winnipeg-based Harris Transport adds 50 trucks and annual revenue of about CA$25 million ($20 million) to one of Mullen’s best-performing units, Gardewine Group.
“This strategic acquisition allows the Gardewine Group to complement multiple offerings within our...
https://www.freightwaves.com/news/mullen-group-buys-manitoba-carrier-as-acquisition-run-continues
Mullen Group has acquired Chicago-area 3PL QuadExpress for $40 million in a deal that gives one of Canada’s largest trucking and logistics companies its first U.S.-based operation.
Mullen (TSX:MTL) bought QuadExpress from Wisconsin-based commercial printing company Quad (NYSE:QUAD). The 3PL primarily operates as a freight brokerage and generated $135 million in revenue in 2020, Mullen said on Wednesday.
Alberta-based Mullen Group, which operates trucking, logistics and oil services businesses...
https://www.freightwaves.com/news/mullen-group-acquires-us-3pl-quadexpress-for-40m
Canada’s freight market is set for a major bump once the COVID-19 pandemic is under control, the CEO of Mullen Group (TSX:MTL) said on Thursday after the trucking and logistics firm reported an over 8% drop in revenue in the first quarter.
“There is ample evidence to suggest that once the impact of COVID is minimized, the economy will recover quickly and show very strong growth, the active ingredient for freight demand and improved margins,” Murray Mullen told financial analysts. “Now we only...
Canadian trucking and logistics giant Mullen Group (TSX:MTL) has acquired British Columbia-based Bandstra Group of Companies in a deal that adds a trucking operation and — intriguingly — a Volvo and Mack truck dealership with three locations.
The acquisition, announced late Friday, adds the 180-truck Bandstra Transportation Systems and Babine Truck & Equipment. Together they generate $78 million (CA$85 million) in revenue, according to Mullen.
“This is another gem of a company that I am...
https://s29755.pcdn.co/news/canadas-mullen-group-dips-toe-into-truck-sales-with-bandstra-acquisition
Canadian trucking and logistics company Mullen Group Ltd. (TSX:MTL) announced Monday it has entered into a letter of intent to acquire Canadian less-than-truckload (LTL) and intermodal carrier APPS Transport Group Inc. and its business units, APPS Cartage Inc. and APPS Cargo Terminals. The parties expect to close on the deal June 1.
In the announcement, Murray K. Mullen, chairman and CEO of Mullen Group, expressed excitement that Rob McDonald, the founder of APPS Transport Group, will remain in...
https://www.freightwaves.com/news/mullen-group-plans-to-acquire-apps-transport-group
The CEO of Mullen Group (TSE:MTL) said the Canadian trucking and logistics company is currently “inundated with acquisition opportunities” as other firms look to sell during the economic turmoil of the COVID-19 pandemic.
“I ask myself, ‘Why are so many companies all of a sudden on the block?’” Murray Mullen told financial analysts during a conference call on Thursday. “My instincts are telling me that 2021 is going to be a great year of opportunity, especially as government support payments...
https://s29755.pcdn.co/news/canadian-trucking-ceo-many-companies-want-to-sell
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Landstar is the latest carrier to predict a strong fourth quarter following its third-quarter earnings results. Plus, M&A activity could be hitting the brakes and a truck driver is charged for driving into a crowd of protesters on I-35.
No slowing this carrierLandstar System Inc. (NASDAQ: LSTR) executives see no slowing of the current market and are predicting a near-record fourth quarter as peak...
https://www.freightwaves.com/news/the-daily-dash-q3-earnings-continue-to-shine-ma-hits-the-skids