Profit revenue

Mullen Group reports second quarter profit of $42.7 million, revenue up 67% over last year

OKOTOKS, Alta. – Mullen Group Ltd. nearly doubled its second-quarter profit from a year ago as revenue grew 67%.

Mullen Group chairman and chief executive, Murray Mullen, said consolidated revenues had reached record levels thanks to acquisitions, general price increases, fuel surcharges and continued customer demand.

The trucking and logistics company says it earned $42.7 million or 43 cents per diluted share for the quarter ended June 30.

The result was up from earnings of $21.7 million or 23 cents per diluted share in the same quarter last year.

Revenue for the quarter totaled $521.5 million, compared to $312.5 million.

On an adjusted basis, Mullen Group said it earned $44.1 million or 47 cents per share in its most recent quarter, compared to adjusted earnings of $19.9 million or 21 cents per share a year ago. .

This report from The Canadian Press was first published on July 21, 2022.

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