Growth Slows for Top 50 Trucking Firms
Trucking’s 50 largest companies increased their combined revenue 5.5 percent in 2013 to $106.6 billion, according to the Top 50 Trucking Companies list published by The Journal of Commerce and prepared by SJ Consulting Group, Pittsburgh.
The carriers, ranging from the largest U.S. transport operator, UPS, to Pitt Ohio, a regional less-than-truckload, package and truckload carrier, posted more than $100 billion in combined revenue for the second straight year, though growth slowed.
The Top 50 list’s revenue growth has decelerated since 2011, climbing 6 percent in 2012 after rising 11.6 percent in 2011, the peak year of the recovery so far for trucking, and 9.3 percent in 2010, according to the SJ Consulting Group data.
Still, the increase in Top 50 revenue over the four years from 2009 — the end of the recession — to 2013 totaled $28.5 billion, compared with $32 billion in the five years from 2003 through 2008, trucking’s last economic growth cycle.
Much of the carrier revenue growth among the Top 50 in 2013, however, came through acquisition. At least eight of the fastest-growing companies increased sales by double digits as a result of buying large carriers or several smaller firms.
This year’s list of the 50 largest trucking companies ranked by revenue is available here.