Canadian truck fleets record $7.9 billion in 2019 profits

Canada had just over 134,000 for-hire trucking companies on the road in 2019, realizing a collective operating profit of £7.9 billion. The findings emerge in Statistics Canada’s latest for-hire trucking survey, which noted the businesses collectively generated £67.8 billion in operating revenue from trucking and related services. Operating expenses totaled £59.8 billion.

(Illustration: istock)

Employee salaries, wages and benefits accounted for 25.3% of the operating expenses, while payments to owner-operators accounted for 22.1%.

Vehicle fuel represented 15.1% of the operating expenses. Ontario trucking companies led the way with £24.4 billion in the 2019 revenue, followed by Alberta (£11.9 billion) and Quebec (£11.8 billion), the national number crunchers add. General freight operations accounted for £44.1 billion of the national operating revenue and £39 billion of the expenses.

Specialized freight haulers accounted for £23.7 billion in operating revenue and £20.1 billion in expenses.

Intraprovincial shipments accounted for 43.6% of the operating revenues collected by Canadian carriers, with interprovincial shipments accounting for 19.9%.

International movements into Canada represented 17.7% (£11.1 billion) in revenue, while international movements out of Canada accounted for the remaining 18.7% (£11.7 billion).