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Mullen Group reports $42.7M Q2 profit, revenue up 67 per cent from year ago

·1 min read

OKOTOKS, Alta. — Mullen Group Ltd. nearly doubled its second-quarter profit compared with a year ago as its revenue rose 67 per cent.

Mullen Group chair and senior executive officer Murray Mullen says consolidated revenue hit record levels driven by acquisitions, general pricing increases, fuel surcharges and steady 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 a profit of $21.7 million or 23 cents per diluted share in the same quarter last year.

Revenue for the quarter totalled $521.5 million, up from $312.5 million.

On an adjusted basis, Mullen Group says it earned $44.1 million or 47 cents per share in its most recent quarter, up from an adjusted profit of $19.9 million or 21 cents per share a year ago.

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

Companies in this story: (TSX:MTL)

The Canadian Press