Trucking industry

For-hire trucking companies recorded strong financial performances in 2004 as net operating income rebounded from several years of little change.

Net income for the industry reached nearly $1.5 billion, compared to an average of $1.0 billion over the previous three years.

Operating revenues increased at a faster pace than expenses in 2004, increasing 17.1% to $24.0 billion, while expenses rose 15.1% to $22.6 billion.

The industry's operating profit margin reached 6.1% in 2004, up from 4.4% the year before.

There were 3,114 Canada-based trucking companies with annual revenues of more than $1 million operating in 2004, a 7.6% increase from 2003.

Operating profit margins rose in all regions. The greatest increases were recorded in the territories (+8.0%) and the Prairies (+2.3%). Margins also rose across all types of trucking except movers (-0.4%). Among the largest increases were companies transporting other specialized freight (+2.9%) and forest products (+2.5%).

Trucking companies also improved their balance sheets in 2004. Total assets increased by $2.0 billion to $12.0 billion, while total liabilities increased by $1.4 billion to $7.9 billion. Shareholders' equity increased from $3.4 billion in 2003 to $4.1 billion in 2004.

Trucking continued to be the dominant mode, in terms of revenue, for transporting goods between Canada and the United States. In 2004, about 53% of exports to the United States and 78% of imports from the United States were moved by truck.

The 2004 issue of Trucking in Canada contains the results from the Quarterly and Annual Motor Carriers of Freight Surveys. Also included are the results from two special studies on the trucking industry.

The first study provides a socio-economic profile of truck drivers, which is Canada's most popular occupation among men. Results indicate truckers earn a wage near the average for all occupations, but they receive fewer benefits, especially with respect to a retirement plan.

The second study takes an in-depth look at the competition for space on the nation's roads. It found that, between 2000 and 2003, the number of trucks edged down 0.2% while there were 5.5% more cars on the roads. However, trucks travel greater distances than cars so car drivers are likely to see more trucks on the road than the registration counts would suggest.

The For-hire Trucking (Commodity Origin and Destination) Survey has been re-designed and will be replaced by the new Trucking Commodity Origin and Destination Survey beginning with reference year 2004. Data for the 2004 reference year are not yet available but are expected to be released in the spring of 2006.

Definitions, data sources and methods: survey numbers, including related surveys, 2741, 2742 and 2748.

The 2004 edition of Trucking in Canada (53-222-XIE, $42) is now available.

For more information, or to enquire about the concepts, methods or data quality of this release, contact Ron Chrétien (613-951-8774; fax: 613-951-0009; ron.chretien@statcan.gc.ca), Transportation Division.