The FMS segment saw operating income soar 652% to $9.61 million from $1.28 million. This was primarily driven by the previously announced acquisition of Zenith Freight Lines and multiple new customer contracts, partially offset by internal efforts to improve revenue quality of the business. The Final Mile Services segment reported that revenue increased 21% to $249.4 million from $205.9 million. This was driven by higher volume and revenue that were partially offset by higher truck purchased transportation expense, equipment-related and maintenance expense, investments in personnel, insurance expenses and technology-related investments. The operating income for the truckload segment increased 30% to $19 million from $14.7 million. The segment volumes were up 13% year-over-year as average total trailer count increased by approximately 3,800 units. This was primarily due to increased load volume and higher revenue per load. The truckload segment reported that revenue for the third quarter increased 34% to $273.6 million from $203.6 million last year. When we make the right investments in the right people, give them the proper tools to equip and empower them and deliver value and exceptional service to our customers, all of our stakeholders should reap the benefits.” That is our people you trust, technology that empowers and capacity to deliver. “We will remain committed to disciplined investments in our company foundation, which I spoke to last quarter. “We recognize unique and significant opportunities in the marketplace,” Simpson said. The results were above expectations by investment analysts on Wall Street, which had been looking for $2.45 per share and quarterly revenue of $3.8 billion, according to Zacks Consensus Estimate. I approached this new position with the same passion for our people.” “Over the years you’ve heard me talk about various areas of the business that I have had the honor to lead. “I’d like to start by saying how humbled and excited I am to be stepping into this new role,” Shelley Simpson said during her first quarterly earnings call as company president.
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