Celadon adds 1,500 new tractors, continues strong growth
Celadon Trucking Services Inc., which operates a large terminal in Carlisle, is adding 1,500 tractors to its fleet.
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.”
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 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.