First Student Profits Boost

Source: Sean Gallagher, School Transportation News, July 8, 2015

First Student, the largest provider of student transportation in North America, saw revenue and profit gains for fiscal year 2015, according to annual earnings released last month. The company cited alterations in the prices of new contract bids and renewals for the boosts. …. With almost a third of its contracts up for renewal in 2014, the company held a 90 percent retention rate with those contracts averaging 4.5 percent price increases. Currently, with more than half of 2015 contract renewal negotiations completed, First Student said it has seen an average price increase in excess of 5 percent. ….