TORONTO, May 2, 2024 /CNW/ - Andlauer Healthcare Group Inc. (TSX:AND) ("AHG" or the "Company") today reported its financial results for the three-month period ended March 31, 2024 ("Q1 2024"). Q1 2024 Summary Revenue totaled $161.1 million, a decrease of 2.2% from $164.8 million for the three-month period ended March 31, 2023 ("Q1 2023"); Operating income was $21.2 million, compared to $23.7 million in Q1 2023; Net income totaled $14.9 million, or $0.35 per share (diluted), compared to $16.5 million, or $0.39 per share (diluted), in Q1 2023; Total comprehensive income was $20.5 million, compared to $16.3 million in Q1 2023; EBITDA1 totaled $39.6 million, compared to $40.5 million in Q1 2023; and EBITDA Margin1 was 24.6%, compared to 24.6% in Q1 2023. "Aside from lower fuel surcharge revenue, our 2.2% year-over-year decline in revenue was primarily attributable to two factors. First, revenue in our U.S. truckload businesses reflects depressed rates and our decision to focus on higher margin business. Second, we had lower revenue in our Accuristix business attributable to lower volumes from certain consumer health clients. These declines were partially offset by organic growth in our Canadian specialized transportation network," said Michael Andlauer, Chief Executive Officer of AHG. "Looking ahead, we will continue to focus on revenue quality in our U.S. truckload businesses and we believe that our recent capacity expansion at our LSU facility in Montreal will make a positive contribution to our logistics and distribution business as the year progresses. We expect continued growth in our Canadian specialized transportation network."   "Today, we also published our inaugural sustainability report. The report highlights our responsible business approach, which starts and ends with our people – our professional drivers, owner-operators, and teams working across our network. Their commitment and passion are the engine of our success and a key to our strong industry partnerships and stakeholder relations. This report will serve as a baseline against which we will measure our future progress for the communities we serve." Selected Consolidated Financial Summary Three months ended March 31, ($CAD 000s, except per share      amounts) 2024 2023 Variance Revenue Logistics and distribution 37,918 40,523 (6.4) % Packaging solutions 4,942 5,510 (10.3) % Healthcare Logistics segment 42,860 46,033 (6.9) % Ground transportation 106,388 108,260 (1.7) % Air freight forwarding 7,995 7,542 6.0 % Dedicated and last mile delivery 17,745 17,131 3.6 % Intersegment revenue (13,850) (14,192) (2.4) % Specialized Transportation segment 118,278 118,741 (0.4) % Total revenue 161,138 164,774 (2.2) % Operating expenses 139,895 141,084 (0.8) % Operating income 21,243 23,690 (10.4) % Net income 14,923 16,528 (9.7) % Foreign currency translation adjustment           5,537 (200)       N/A   Total comprehensive income 20,460 16,328 25.3 % Earnings per share – basic $ 0.36 $ 0.39 ($ 0.03) Earnings per share – diluted $ 0.35 $ 0.39 ($ 0.04) Select financial ...