Transportation and Logistics Systems Inc (OTCMKTS:TLSS) Stock Jumps After Earnings Update
Transportation and Logistics Systems Inc (OTCMKTS:TLSS) mainly operates in the transportation and logistics industries through a number of its subsidiaries. Yesterday the company announced that it had filed its Form 10 Q in relation to its financial results for the first fiscal quarter, which ended on March 31, 2023.
Trading Data
On Monday, PBNC stock ended flat at $42.80 with more than 50 shares, compared to volume of 116 shares. The stock moved within a range of $42.80 – 42.80 after opening trade at $42.80.
Transportation and Logistics Systems, Inc. Announces Financial Results for the First Quarter Ended March 31, 2023
The performance from Transportation and Logistics Systems Inc in the first quarter was quite strong and it could be a good idea for investors to take a closer look. The Chief Executive Officer and Chairman of the company Sebastian Giordano spoke about the performance as well. He noted that much of the significant growth in revenues had been brought about thanks to the acquisitions made by Transportation and Logistics Systems.
The company clocked revenues of $5,595,000 for the first quarter, which worked out to a year on year rise of 344.3% from the $1,259,000 that had been generated in the prior year period. The acquisition of the firm JFK Cartage Inc back in July 2022 had been one of the biggest reasons behind the rise in revenues and two other acquisitions. The two other acquisitions were Severance Trucking Inc and Freight Connections Inc.
