The Canadian logistics firm posted a 40.6% year-over-year increase in net income amid double-digit revenue growth.
Mullen Group reported Q2 net income of $36.00M, up 40.6% from the same period last year. Revenue rose 12.6% year-over-year to $609.3M, driven by stronger demand across its logistics and transportation segments.
Operating income before depreciation and amortization reached $103.90M, a 35.6% increase from Q2 2023. Adjusted earnings per share stood at $0.41, matching the prior-year figure despite higher operational costs.
The company did not disclose immediate market reaction in the release.