Truckload conglomerate Celadon Group said it expects to achieve earnings per share in the range of 12 to 14 cents per share for its fiscal 2002 fourth quarter, exceeding analyst estimates of 11 cents per share. That compares to a loss of five cents a share in the same period last year, the carrier said.
Celadon CFO Paul Will said the carrier's higher earnings are being driven by significantly increased revenue from the acquisition of Burlington Motor Carriers late last year, as well as from continued cost-reduction efforts.
Celadon Chairman and CEO Steve Russell added that the company's Internet venture, TruckersB2B, continues to see rising profits from increased usage by its 11,000 member fleets. He also expects the opening of the U.S.-Mexican border sometime this summer to have a positive impact on Indianapolis-based Celadon's future earnings, largely because the carrier has major investments in Mexican trucking operations.
