Canadian trucking firm Mullen Group's Q2 revenue beats on acquisitions

Mullen

23/07/2026 09:11

    

    Overview
  
Canada logistics provider's Q2 revenue rose 12.6% yr/yr, beating analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company increased 2026 capital program by C$50 mln to meet expected demand

    

    Outlook
  
Company expects increased customer demand and is altering strategy to meet market needs
Board approves C$50 mln increase in 2026 capital program; further investments and acquisitions supported

    

    Result Drivers
  
ACQUISITIONS - Co said acquisitions contributed C$44.7 mln in incremental Q2 revenue, mainly in Logistics & Warehousing
FUEL SURCHARGES - Higher diesel prices led to increased fuel surcharge revenue, boosting results in LTL and L&W segments
MARGIN IMPROVEMENT - Improved margins in LTL and US 3PL segments due to greater lane density, demarketing lower margin freight, and cost recovery efforts

    
Company press release: ID:nGNXbwh4sb

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Revenue
Beat
C$609.30 mln
C$592.80 mln (7 Analysts)
Q2 Adjusted EPS
Beat
C$0.41
C$0.34 (7 Analysts)
Q2 EPS
 
C$0.37
 
Q2 Adjusted Net Income
Beat
C$39 mln
C$31.90 mln (4 Analysts)
Q2 Net Income
 
C$36 mln
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the ground freight & logistics peer group is "buy"
Wall Street's median 12-month price target for Mullen Group Ltd is C$23.00, about 10.2% below its July 22 closing price of C$25.60
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 14 three months ago

    

    Reuters Recommended Reads
  
July 22 - CSX Q2 revenue beats on volume growth, fuel surcharges and higher pricing
July 22 - Freight group DSV's shares slide 15% as cash flow falls, earnings disappoint
July 23 - Switzerland's Kuehne+Nagel Q2 net turnover rises on air logistics strength

    
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)