06:15 AM EDT, 03/19/2024 (MT Newswires) -- Titanium Transportation Group Inc. ( TTNMF ) , a provider of transportation and logistics services throughout North America, that saw its shares gain near 5% yesterday, overnight Monday reported a fourth-quarter net income of $1.4 million, or $0.03 per share, down from $4.8 million, or $0.11 per share, a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was $119.3 million, up from $110.8 million a year earlier.

EBITDA for Q4 was about $14.9 million, as compared with over $14.9 million a year earlier.

In 2024, the company is expecting revenue of $490 million to $510 million; and EBITDA margin of 10% to 12%.

"The headwinds experienced by the transportation and logistics industry in 2023 have persisted in the first two months of 2024. Nonetheless, we believe conditions will improve in the second half of 2024 and are beginning to see signs of excess capacity exiting the market," Ted Daniel, chief executive officer of Titanium Transportation Group ( TTNMF ), said.