Specialized truckload carrier Prime managed to do something none of the 49 other top trucking companies accomplished in 2009: Increase its revenue.
In a year when the other 49 top trucking companies ranked by revenue saw sales slide anywhere from 7.6 percent to 41.4 percent, Prime managed to boost its sales 7.3 percent.
Prime ranks 14th among the top 50 trucking companies tracked by The Journal of Commerce and SJ Consulting Group, a transportation consulting firm in Pittsburgh.
Springfield, Mo.-based Prime specializes in refrigerated, flatbed and tanker trucking and had $992 million in revenue in 2009, up from $920 million in 2008, SJ Consulting said.
The company also defied conventional wisdom by adding capacity at a time when excess capacity was flooding the truckload market, sending rates downward.
Prime added about 20 percent in tractor capacity in 2009, according to SJ Consulting.
The company may have benefited from the troubles of its smaller competitors. The flatbed industry, in particular, was hit hard by the collapse of the construction business.
Last month the company raised its owner-operator base pay to 95 cents a mile.
A full report on the top 50 trucking companies will be published in the April 12 issue of The Journal of Commerce and will be available online to members of The Journal of Commerce.
Contact William B. Cassidy at email@example.com.