Adjusted earnings before interest, taxes, depreciation and amortization from continuing operations fell to $15.2 million from $19.7 million a year earlier. The latest quarter’s results included $5.4 million in costs for drydocking ships in China.
The net loss compared with a net profit of $4.5 million a year earlier, and was affected by onetime charges. Revenue rose to $270.9 million from $253.7 million.
President and CEO Sam Woodward said the adjusted EBITDA was “better than expected” and that the domestic ocean carrier expects container volumes to rise 1 to 2 percent this year and rates net of fuel surcharges to increase slightly.
Container volume totaled 59,768 revenue loads, compared with 57,677 a year earlier. Revenue per container averaged $4,269, up from $4,079 a year earlier. Per-container revenue net of fuel surcharges rose 1.1 percent to $3,174.
Horizon said fuel prices during the second quarter averaged $733 a ton, up 10.9 percent year-over-year. The company forecasts they will average $675 to $680 in 2012.