Sumting Wong
TB Lurker
- Credits
- 341
today reported third quarter 2019 revenue of $787.6 million compared to third quarter 2018 revenue of $826.2 million. Third quarter 2019 operating income was $31.2 million compared to operating income of $56.1 million in third quarter last year. Third quarter net income was $16.3 million, or $0.62 per diluted share compared to third quarter 2018 net income of $40.8 million, or $1.52 per diluted share.
Excluding certain items in both periods, as identified in the attached reconciliation tables, including final nonunion pension charges of $6.0 million, or $0.23 per diluted share, eliminating any further nonunion pension expense, non‑GAAP net income was $27.0 million, or $1.02 per diluted share, in third quarter 2019 compared to third quarter 2018 net income of $40.0 million, or $1.49 per diluted share.
Third Quarter 2019 Versus Third Quarter 2018" style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px; background-color: rgb(255, 255, 255);">Third Quarter 2019 Versus Third Quarter 2018
Excluding certain items in both periods, as identified in the attached reconciliation tables, including final nonunion pension charges of $6.0 million, or $0.23 per diluted share, eliminating any further nonunion pension expense, non‑GAAP net income was $27.0 million, or $1.02 per diluted share, in third quarter 2019 compared to third quarter 2018 net income of $40.0 million, or $1.49 per diluted share.
Third Quarter 2019 Versus Third Quarter 2018" style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px; background-color: rgb(255, 255, 255);">Third Quarter 2019 Versus Third Quarter 2018
- Revenue of $565.6 million compared to $585.3 million, a per-day decrease of 4.1 percent.
- Tonnage per day decrease of 4.6 percent, with a ten percent decrease in LTL‑rated freight offset by a double digit percentage increase in truckload‑rated freight.
- Shipments per day decrease of 3.9 percent.
- Total weight per shipment decreased 0.7 percent with a decrease in the average LTL‑rated weight per shipment of approximately 6 percent.
- Total billed revenue per hundredweight increased 1.5 percent. Excluding fuel surcharge, the percentage increase on LTL‑rated freight was in the high‑single digits.
- Operating income of $31.7 million and an operating ratio of 94.4 percent compared to operating income of $50.2 million and an operating ratio of 91.4 percent. On a non-GAAP basis, operating income of $38.5 million and an operating ratio of 93.2 percent compared to operating income of $51.2 million and an operating ratio of 91.2 percent.
