TransForce Inc. (TFI.TO) Thursday reported a decline in profit for the first quarter, as revenues dropped by 4.9 percent.
Net income for the quarter dropped to $18.9 million or $0.20 per share from $30.2 million or $0.31 per share last year.
Adjusted earnings for the quarter was $24.4 million or $0.26 per share. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $749.7 million, down 4.9 percent from $788.2 million last year. Analysts expected revenues of $788.14 million.
Revenue excluding fuel surcharge amounted to $671.0 million, compared to $707.5 million last year.
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