The UScontainership operator reported a deficit of $26.3m for the three months to 23March, versus a net loss of $20.1m in the comparable period a year prior.
Operatingrevenue rose to $251.9m from $244.5m year-on-year while earnings beforeinterest, taxes, depreciation and amortization (Ebtida) fell to $4.9m from$8.4.m.
In Horizon’sfirst-quarter earnings report it blamed the decline in the bottom line on higherfuel and labour costs in addition to contractual cost increases that impactedmarine, inland transportation and terminal expenses.
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