logo
  Join        Login             Stock Quote

Patriot Transportation (PATR) 1Q Earnings Jump 47 Pct

 February 06, 2013 12:18 PM


(By Balaseshan) Patriot Transportation Holding Inc. (NASDAQ: PATR) reported a 47% jump in quarterly earnings driven by gains on equipment sales, lower than expected health insurance claims, new property royalties and an increase in occupancy.

Earnings for the first quarter were $3.12 million or $0.33 per share, up from $2.12 million or $0.23 per share in the previous year quarter.

Total revenue increased to $33.06 million from $30.36 million.

Transportation revenue rose 7.2% to $26.64 million. Revenue miles in the current quarter were up 3.4% from last year due to business growth. Revenue per mile increased 3.8% due to rate increases and higher fuel surcharges.

The average price paid per gallon of diesel fuel increased by 4.7% over the same quarter in fiscal 2012.

Excluding fuel surcharges, revenue per mile increased 4.6% over the same quarter last year.

Mining royalty land revenue jumped 36.2% to $1.33 million, due to new property royalties and higher tons mined. Developed property rentals revenue grew 12.0% to $5.087 million due to higher occupancy.

Transportation segment miles for this year were 3.4% higher than last year. The company continues to succeed in adding drivers and customers and anticipates increasing segment miles during fiscal 2013.

PATR is trading down 2.46% at $26.19 on Wednesday. The stock has been trading between $18.71 and $29.90 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChart Says This Retailer's Comeback Isn't Finished

One of the surprises, at least on the surface, of the market's recent swoon was the outperformance of read on...

article imageETF Performance Review: Major Asset Classes | 19 Dec 2014

It’s all about real estate investment trusts (REITs) these days when it comes to bullish performance among read on...

article imageOil and Global Stock Markets Rebounding Sharply

So far so good on our expectation of a 4 to 5% pullback and then a resumption of the bull read on...

article imageGrading the FOMC

Love its members or loathe them, you have to admire the gradual impact the policy-making committee has had read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Recent Articles by Balaseshan
More Articles on: Transportation



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.