Trailer Bridge earnings up 22 percent
The Jacksonville-based Puerto Rico trade carrier Trailer Bridge, buoyed by improved yields, said third quarter earnings increased 22.5 percent to $1.9 million.
Revenue increased 10.3 percent to $28.9 million, driven by a 5.4 percent increase in average revenue per southbound container, a 0.9 percent rise in southbound container volume, and increased fuel surcharges.
The company also noted that earnings benefited from completion of dry-docking work that had disrupted its services in prior quarters.
'We expected that our third quarter results would eclipse last year after our dry-docking related disruptions abated, and they did. Our 10.3 percent revenue increase drove a 22.5 percent net income increase. Our third quarter numbers were robust across all measures. We're pleased that favorable trends are continuing for us into the fourth quarter,' chairman and CEO John D. McCown said.