Pacer International Inc., an asset-light North American freight transportation and logistics services provider, on Thursday, April 26, reported total revenue for the first quarter ended March 31 decreased by 3.5 percent to $345.9 million. Income from operations decreased by $3.9 million due mainly to lower income in the logistics segment, and net income decreased $2.3 million to a loss of $0.3 million.
“While our overall results are down year-over-year driven mainly by logistics, we continued to show strong positive growth in our intermodal segment by achieving double-digit revenue growth excluding the year-over-year portfolio change,” said John J. Hafferty, chief financial officer for the Dublin, Ohio-based company. “In particular, the domestic portion of our intermodal segment continues to be very strong with double-digit revenue and margin growth year-over-year.”
Dan Avramovich, chief executive officer, said Pacer took several positive steps in the quarter that will continue to enhance its business performance, including a new trucking alliance with CRST for intermodal drayage. “We are committed to continuing to drive for operational excellence in these businesses to enhance our competitiveness and improve our margins,” Avramovich said.
