BOLTON, Ont. – Titanium Transportation Group’s Q3 earnings were actually a tale of two quarters.
In the first half of the quarter, a slumping U.S. dollar negatively impacted revenue from U.S.-based customers, while the second part of the quarter saw a recovery of the dollar as well as improving volumes and tightening capacity.
“The conversion rate for us crashed very quickly,” Titanium CEO Ted Daniel said this morning on a conference all with analysts, when discussing the effect of the weakening U.S. dollar. “We do expect our conversion rates for 2018 are going to remain fairly stable. The dollar is where it needs to be for us right now. We hope it stays where it is.”
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