USA Truck’s 1Q Loss Narrows
USA Truck Inc.’s first-quarter loss narrowed to $1.6 million, or 15 cents per share, from $2.5 million, or 24 cents, as harsh winter weather increased operating expenses.
The truckload carrier’s revenue rose 10% to $145.5 million. The loss before interest and taxes widened at its trucking business to $6.1 million from $4 million.
Profitability improved in the logistics unit known as strategic capacity solutions, reaching $5.1 million compared with $1.2 million a year ago.
“Despite the most severe winter weather we have experienced in decades across our operating geography, we posted another quarter of strong year-over-year progress towards our operational improvement goals,” President and CEO John Simone said.
“The final three weeks of March, however, were characterized by unusually strong freight volumes, which outstripped both our and the industry’s supply of trucks,” said Simone, who noted that business conditions improved in April.
USA Truck ranks No. 52 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
