Canada's Mullen Group Q3 revenue beats on US 3PL unit strength

By Reuters News


Overview

  • Canada logistics provider's Q3 revenue rose 16%, beating analyst expectations

  • Adjusted EPS for Q3 beat analyst expectations

  • Growth driven by internal demand, higher fuel surcharges, and acquisitions


Outlook

  • Mullen Group expects increased logistics demand from large-scale capital projects if they proceed

  • Company plans to continue investing in acquisition opportunities, including recent Willson International deal


Result Drivers

  • SEGMENT GROWTH - All business segments reported higher revenue, with notable internal growth in US 3PL, Specialized & Industrial Services, and Logistics & Warehousing

  • FUEL SURCHARGES - Higher diesel fuel prices led to increased fuel surcharge revenue, especially in LTL and L&W segments

  • DEMAND FOR ENERGY AND MINING SERVICES - Specialized & Industrial Services segment benefited from higher demand for pipeline hauling, water management, and drilling-related services, partially offset by lower demand for civil construction and production services


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

C$653.20 mln

C$612.03 mln (7 Analysts)

Q3 Adjusted EPS

Beat

C$0.52

C$0.42 (7 Analysts)

Q3 EPS

C$0.52

Q3 Adjusted Net Income

Beat

C$50.30 mln

C$40.43 mln (4 Analysts)

Q3 Net Income

C$51.50 mln


Reuters Recommended Reads

  • Oct 19 - Truckload carrier Werner Enterprises sees Q3 revenue up to $951 million

  • Oct 21 - Knight-Swift Q3 revenue, EPS beat analyst expectations on pricing gains

  • Oct 20 - Canada's Algoma Central sees Q3 revenue up 26% on freight rates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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