GE Capital recently concluded a survey of approximately 500 CFOs of mid-market companies in seven distinct industries across the U.S. Transportation was one of the industries, and CFOs were asked about their current views on the U.S. and global economies, commercial credit and lending conditions, business and energy costs and other operational issues.
Transportation industry CFOs stood out from their peers in a number of distinct areas. Below are some key survey findings:
• Profitability – 47 percent of transportation CFOs predict an increase in their company’s profit margins (the most optimistic among their peers across all industries)
• Business opportunities – In 2012, the greatest business opportunities are acquiring new customers and increasing average revenue per loaded mile (59 percent each). Increasing tonnage volume from existing customers was cited by 57 percent.
• Concerns – From a list of 12 factors, 67 percent say they are most concerned about the impact fuel price volatility will have on their business, followed by 59 percent who are most concerned about the impact of safety/truck accidents.
• Hiring – Eighty percent expect to hire in the next 12 months and anticipate increasing their workforce by 9 percent, on average.