Strong Canadian Transportation Growth
Canadian ground transportation revenue excluding fuel increased by 8.5%, dedicated and last mile was up 10.2%, and air freight forwarding grew by 5.1% compared to Q3 last year.
Improved EBITDA Margin
Consolidated EBITDA margin reached 25.9% for the quarter, up from 24.9% in Q3 last year, marking the strongest quarterly margin in 2024.
Healthcare Logistics Revenue Growth
Healthcare Logistics segment revenue totaled $44.1 million, an increase of 4.7% compared to Q3 last year, with logistics and distribution revenue increasing by 6.7%.
Strong Financial Position
The company maintained a very conservative net leverage ratio of 0.74x with cash and cash equivalents of $36 million and working capital of $47 million at quarter end.
Continued Shareholder Value Initiatives
The company raised its quarterly dividend to $0.11 per share and continued share buyback activities.