[Stay on top of transportation news: .]
Quality Distribution Lowers Fourth-Quarter Forecast
Tank truck carrier Quality Distribution lowered its earnings guidance for the fourth quarter and full-year 2006, due to lower seasonal demand.
The company said its fourth-quarter earnings per share, to be released Feb. 27, will be 3 to 7 cents, compared to a previously forecast 17 to 19 cents.Its full-year EPS will be 59 to 63 cents, down from a previous 74 to 76 cents, Quality said late Friday. Revenue for the year excluding fuel surcharges will be $640 million to $645 million, compared with a previously forecast $645 million to $650 million.Demand “remains weaker than anticipated,” the company said. It also said it would have several insurance-related charges that would t earnings.Quality Distribution is ranked No. 34 on the Transport Topics 100 list of U.S. and Canadian for-hire carriers.