USA Truck’s Fourth-Quarter Earnings Plunge on Lower Tonnage
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Truckload carrier USA Truck on Thursday reported its fourth-quarter profit plunged to $1.2 million or 11 cents a share, from $4.3 million or 37 cents a year earlier, on lower tonnage and demand.
The company’s fourth-quarter revenue dipped to $92.2 million from $97.1 million for the previous fourth quarter.For the full year, the company earned $12.4 million or $1.08 per share, down from $15.6 million or $1.51 in 2005.The company in December had lowered its ’06 earnings outlook to $1.08 to $1.12 per share because of lower freight demand toward the end of last year. (Click here for previous coverage.)“We experienced declining demand for truckload freight services throughout the quarter consistent with the declining truck tonnage reported by the American Trucking Associations,” said Chief Executive Officer Jerry Orler.“This was the most difficult operating environment that we have seen in several years due to the deteriorating demand and the absence of the normal peak shipping season,” he said in a statement.Orler, a longtime USA Truck executive and one of the company’s founders, was named CEO On Wednesday. (Click here for previous coverage.)USA Truck is ranked No. 55 on the Transport Topics 100 list of for-hire carriers in the United States and Canada.
Truckload carrier USA Truck on Thursday reported its fourth-quarter profit plunged to $1.2 million or 11 cents a share, from $4.3 million or 37 cents a year earlier, on lower tonnage and demand.
The company’s fourth-quarter revenue dipped to $92.2 million from $97.1 million for the previous fourth quarter.For the full year, the company earned $12.4 million or $1.08 per share, down from $15.6 million or $1.51 in 2005.The company in December had lowered its ’06 earnings outlook to $1.08 to $1.12 per share because of lower freight demand toward the end of last year. (Click here for previous coverage.)“We experienced declining demand for truckload freight services throughout the quarter consistent with the declining truck tonnage reported by the American Trucking Associations,” said Chief Executive Officer Jerry Orler.“This was the most difficult operating environment that we have seen in several years due to the deteriorating demand and the absence of the normal peak shipping season,” he said in a statement.Orler, a longtime USA Truck executive and one of the company’s founders, was named CEO On Wednesday. (Click here for previous coverage.)USA Truck is ranked No. 55 on the Transport Topics 100 list of for-hire carriers in the United States and Canada.
