Home » Trimac Announces its First Quarter Results

Trimac Announces its First Quarter Results

fleetnewsdaily | May 3, 2013

Trimac, Canada’s leader in bulk trucking has announced its first quarter results.

Highlights for the first quarter:

Revenue for the quarter before fuel surcharges increased 28.8% to $93.1 million from $72.3 million
EBITDA for the quarter increased 32.9% from $8.2 million to $10.9 million
Earnings per share for the quarter increased 37.5% to $0.11 from $0.08
Trimac’s corporate office will be relocating effective May 13 th, 2013
Trimac converted its 6.4 million Class B shares to 7.1 million Class A shares
Three of Trimac’s professional drivers have been appointed to the Road Knight Teams for Alberta and Ontario

Total revenue increased $22.3 million (or 26.7%) to $105.9 million from the $83.6 million reported for the three months ended March 31, 2012 (“prior quarter”). Revenue excluding fuel surcharges improved by 28.8% to $93.1 million. Increases were experienced primarily in the bulk trucking segment where incremental revenue from our prior year acquisitions contributed $17.2 million to the increase and growth from new business contributed $3.4 million of additional revenue. The Bulk Plus Logistics segment also experienced increased revenue in its transload and freight management operations of $0.7 million. These improvements were partially offset by a $0.5 million decrease in the National Tank Services segment’s third party revenue.

EBITDA (earnings before interest, taxes, depreciation and amortization) for the current quarter increased 32.9% to $10.9 million compared to $8.2 million in the prior quarter. Increases were in the bulk trucking segment due to prior year acquisitions and in the Bulk Plus Logistics segment due to the increased revenue.

The company also announced plans to relocate its corporate office, including its shared services organization Trimac Management Services Limited Partnership, out of the downtown core to northeast Calgary effective May 13, 2013. The newly renovated facilities located at 3215-12 Street NE, Calgary, Alberta will house over 175 Trimac employees. “It’s an exciting time for us at Trimac,” commented Edward V. Malysa, President and Chief Operating Officer of Trimac. “Our move out of the downtown is an important strategic initiative to ensure our operating costs are competitive for the long-term.”

The company also noted that it is pleased to be awarded the 2012 National Tank Truck Carriers Competitive Safety Grand Award in the high mileage category for outstanding safety performance. “Safety is our core value, and winning this prestigious award is another example of the invaluable contributions and diligent efforts made by our professional drivers and support staff. Thank you Trimac employees!” commented Jeffrey J. McCaig, Chief Executive Office of Trimac.

About Trimac

Trimac is Canada’s largest provider of bulk trucking services with operations from coast to coast. In addition, through its National Tank Services division, Trimac performs repairs, maintenance and tank-trailer cleaning services for both the Trimac fleet and for third party commercial customers. Trimac also provides third party transportation logistics services in Canada and the United States through its wholly owned subsidiary Bulk Plus Logistics. Shares of Trimac Transportation Ltd. are traded on the Toronto Stock Exchange under the symbol TMA.