Google Plus Facebook LinkedIn Twitter Vimeo RSS

Celadon adds 1,500 new tractors, continues strong growth

By
Celadon Trucking Services Inc. purchased Kenworth T680s for the company's expedited team operations.
Celadon Trucking Services Inc. purchased Kenworth T680s for the company's expedited team operations. - (Photo / )

Celadon Trucking Services Inc., which operates a large terminal in Carlisle, is adding 1,500 tractors to its fleet.

The company purchased Kenworth T680s and LoneStar and ProStars from International. Headquartered in Indianapolis, Celadon has 3,500 trucks currently, up from about 2,600 in early 2013.

The average age of Celadon trucks is a little over two years, the company told investors in a recent quarterly statement. That compares with the industry average age of seven years.

“One of Celadon’s hallmarks has always been the newness of our company fleet,” CEO Paul Will said in a news release. “The key for us with these new ProStar tractors is to help recruit company drivers to our fleet as well as offer a reward to our existing drivers.”

Celadon Trucking Services Inc. purchased Kenworth T680s for the company's expedited team operations.

The Kenworth tractors will be used by the company’s expedited team operations. The LoneStar models are for the Lease Purchase division, and ProStar tractors are for the company’s core driving fleet, according to Celadon.

Celadon has been in an expansion mode in recent years, acquiring a portion of Hiner Transport and about 180 trucks and 280 trailers from Tennessee-based Teton Transportation Inc., both in 2012.

Celadon previously acquired Carlisle-based YRC Glen Moore Inc., formerly a division of YRC Worldwide Inc.

In the fiscal quarter ending June 30, Celadon reported revenue gains of 21.4 percent to $197.4 million, up from $162.6 million in the year-ago quarter. Net income increased $8.3 million to $15.5 million in the quarter, up from $7.2 million for the same quarter last year.

Earnings per diluted share increased to 65 cents, up from 31 cents for the same quarter last year. For the fiscal year ending June 30, revenue increased 23.7 percent to $759.3 million, up from $613.6 million for the same period last year.

Freight revenue, which excludes fuel surcharges, increased 25.8 percent to $615.4 million, up from $489 million for the same period last year. Net income increased 12.4 percent to $30.7 million, up from $27.3 million for the same period last year. Earnings per diluted share increased to $1.29, up from $1.17 for the same period last year.

John Hilton

John Hilton

John Hilton covers Cumberland County, manufacturing, distribution, transportation and logistics. Have a tip or question for him? Email him at johnh@cpbj.com. Follow him on Twitter, @JHilton32. Circle John Hilton on .

Leave a Comment

test

Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy

Comments

close
Subscribe to Our Newsletters!
Click Here to Subscribe for Free Now!