U.S. Xpress to Report 1Q Loss
Truckload carrier U.S. Xpress Enterprises said Friday it will report a first-quarter loss next week on declining freight demand and rising fuel costs.
U.S. Xpress said it will report a loss of 15 cents to 17 cents per share when it releases its earnings next Thursday. Revenue will rise 20.5% to about $361 million, it said in a statement.
Profitable results in the truckload and global systems segments in March were not enough to overcome losses in the truckload sector in January and February, U.S. Xpress said.
Results for last year’s first quarter did not include revenue from Arnold Transportation or Total Transportation of Mississippi, which it acquired last year.
