TRANSFORCE INC COM NPV (OTCMKTS:TFIFF) has released its Q3 earnings report for this year revealing strong numbers for the quarter ended September 30, 2016.

The company reported a 50% increase in its operating income for the quarter and a revenue boost by 3% in the third quarter. The firm’s revenue for its ongoing operations was $975.5 million which is a satisfactory number, though it is 3% lower compared to the revenue in 2015. The revenue from continuing operations, as well as net of fuel surcharge, was $897.4 million, marking a 2% decline. The declining numbers are a result of the lower business volumes reported from the TL and LTL segments.

TransForce also reported the operating income from its continuing operations at $72.4 million which was slightly lower than 72.8 million recorded in the previous year. The operating for Q3 before fuel surcharge was 8.1% of revenue this year compared to 8.0% for Q3 in 2015. The improvement is as a result of the solid margin gains that the company reported in the LTL and package and Courier (P&C) segment. It was partially influenced by TL margins as a result of difficult market conditions.

“TransForce recorded solid third-quarter results in most business segments. This speaks highly of our focus on asset-light activities that produce superior returns even as we continue to face headwinds from an uncertain economy and weak manufacturing activity. Our successful actions gave rise to a strong free cash flow generation that was mostly returned to shareholders by repurchasing common shares and paying our regular dividend,” stated TransForce chairman, president and CEO, Alain Bédard.

The CEO pointed out that the P&G segment benefited from the company’s expanding activity in e-commerce. He also stated that the soft Canadian economy has also been an influence but improved operating margins have also provided a positive impact and led to a strong performance. Additionally, TransForce has been focusing on high-return activities but the logistic activities have been affected by low customer volume.

TransForce closed the latest trading session at $20.92.