These headwinds more than offset the cost savings in the quarter from the Companys Realignment Plan as well as the higher revenue per tractor per week in the Companys Dedicated division and the higher revenue miles per tractor in the Companys OTR division, which were captured across a larger fleet size compared to the fourth quarter of 2021. However, quarterly progress on our initiatives was outweighed by elevated claims expense primarily due to recent unexpected and adverse developments in two claims from prior years, along with certain one-time costs in the quarter. CHATTANOOGA, Tenn.-- (BUSINESS WIRE)-- U.S. Xpress Enterprises, Inc. (NYSE: USX) today released its 2021 economic forecast, highlighting a variety of trends and updates specific to the trucking industry. Matt Garvie Press Releases | MTA Press Releases Published Agency June 25, 2023 6:15 pm PHOTOS: New York City Transit Celebrates LGBTQ+ Pride Month with Contingent Marching in Annual Parade June 23, 2023 7:45 pm PHOTOS: NYC Transit President Davey Honors Lost and Found Team for Heroic Efforts to Reunite World War II Heirloom with Family June 23, 2023 12:30 pm Knight-Swift Transportation Holdings (NYSE: KNX) has agreed to buy U.S. Xpress for an enterprise value of roughly $808 million (excluding transport costs). The full, detailed forecast can be found on the Company blog. We expect this to result in meaningful increases in OTR contract rates and to a lesser extent in Dedicated, at least in the first half of the year. Dive Brief: U.S. Xpress said it expects a tight truckload market to lead to higher contract rates this quarter, as the season for requests for proposals arrives. Featured, Press Release Chattanooga, Tenn. (Nov. 14, 2022) - U.S. Xpress (NYSE: USX) has once again been recognized as a top employer for military veterans and earned the 2023 Military Friendly Employer and Military Friendly Spouse Employer designations by VIQTORY for the seventh. New drug delivery method can reverse senescence of stem cells. Non-cash adjustments in the quarter included a $4.3 million write-off of obsolete technology and a mark-to-market adjustment of $0.5 million related to a strategic investment. (423)-633-7153 The increase was primarily due to a combination of increased average available tractors and an increased overall truckload rate per mile compared to the third quarter of 2021. In addition to the $28.0 million in annualized costs we have already taken out of the business, we will continue to identify additional cost takeout opportunities, while allocating capital in a disciplined manner targeting projects that we believe will drive the Company forward.. Stay informed with Arizona local news and headlines, photos and videos from around the Valley of Sun, including Chandler, Gilbert, Glendale, Peoria, Mesa, Phoenix, Scottsdale, Surprise and . Some restrictions may apply. Lawson will move into Harness's former role leading sales, pricing and customer engagement, while Harness will lead the Company's growing Dedicated business. The full, detailed forecast can be found on the company blog. We offer customers a broad portfolio of service offerings using our own truckload fleet and third-party capacity through our freight brokerage network. In the OTR division, the average tractor count increased 259 tractors compared to the fourth quarter of 2020 primarily as a result of growth in the Companys Variant fleet. After submitting your information, you will receive an email. You must click the link in the email to activate your subscription. The name says it all. In the Dedicated division, the average number of tractors declined by 256 tractors from the fourth quarter of 2020 but increased by 13 tractors sequentially from the third quarter of 2021. FICO Survey: Majority of US Consumers Have Been Contacted by Real-Time-Payment Scammers Learn More Average revenue miles per tractor per week, Percentage of loads processed on digital platform, Truckload Adjusted operating income (loss), GAAP: Net income (loss) attributable to controlling interest, Income (loss) before income taxes attributable to controlling interest, Unrealized (gain) loss on equity investment, Adjusted income (loss) before income taxes, Non-GAAP: Adjusted net income (loss) attributable to controlling interest, Income tax expense attributable to controlling interest, Non-GAAP: Adjusted earnings (loss) per diluted share attributable to controlling interest, Depreciation and amortization, net of (gain) loss, Basic weighted average shares outstanding, Diluted weighted average shares outstanding, Customer receivables, net of allowance of $11 and $157, respectively, Less accumulated depreciation and amortization, Current maturities of long-term debt and finance leases, Long-term debt and finance leases, net of current maturities, Total liabilities and stockholders' equity. Today, CISA, the Federal Bureau of Investigation (FBI), the Multi-State Information Sharing and Analysis Center (MS-ISAC), and international partners released Understanding Ransomware Threat Actors: LockBit, a joint Cybersecurity Advisory (CSA) to help organizations understand and defend against threat actors using . We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information. According to the complaint, in the press release and during a conference call to discuss the results, U.S. Xpress disclosed how unusual shipping patterns were impacting its segments and how. Investor News: Events: Presentations: SEC Filings: End of . The decrease in Brokerage revenue was driven by a 33.6% decrease in load count which more than offset the 25.3% increase in revenue per load compared to the third quarter of 2021. The increase was primarily the result of a 12.1% increase in average available tractors combined with a 9.0% increase in average truckload rate per mile. About Us Mission and History Global Access Global Access Our Quality Policy Community Involvement . During the third quarter, the Company took action to reduce operating expenses. The simultaneous webcast can be accessed on the Investor Relations website at investor.usxpress.com. 4080 Jenkins Rd, Chattanooga, TN 37421 | 866-646-5886 |
Stay up to date with the latest news from PECO. With that said, we must continue to improve utilization in our OTR division to meaningfully improve our overall financial results.. April 30, 2020 CHATTANOOGA, Tenn.-- (BUSINESS WIRE)-- U.S. Xpress Enterprises, Inc. (NYSE: USX) (the "Company") today announced results for the first quarter of 2020 and provided a COVID-19 update. News, Google, AOL and other popular points online and in traditional media. Excluding the impact of fuel surcharge revenues, fourth quarter revenue increased $58.5 million to $487.3 million, an increase of 13.7% as compared to the fourth quarter of 2020. ET. This compares to earnings of $0.05 per share a year ago. This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. The deal is expected to close in late. Confocal images of mesenchymal stem cells. The solutions include two next-generation 5G-Advanced, baseband capacity cards named Levante and Lodos. Teen with gene mutation gets rare heart operation. During the fourth quarter, the Company also experienced unusual claims activity primarily related to two severe accidents that negatively impacted operating expenses by $6.0 million. Copyright 2022 U.S. Xpress, Inc. All right reserved, U.S. Xpress Enterprises Reports Fourth Quarter 2021 Results, https://www.businesswire.com/news/home/20220209005671/en/. However, as Variant began to achieve significant scale, we found that the team needed to shift their focus from idea generation to execution to ensure that the fleet ran smoothly while maintaining its superior operating metrics. Contact: Mary Fortune, Director, Corporate CommunicationsEmail: mfortune@usxpress.com, Chattanooga, Tenn. (May 12, 2023) U.S. Xpress recently honored 149 professional truck drivers for more than 218 million combined miles of safe driving. Call for details. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. Net income (loss) attributable to controlling interest, Adjusted net income (loss) attributable to controlling interest, Adjusted earnings (losses) per diluted share, Incremental insurance premiums and claims expense, Truckload Adjusted operating income (loss), GAAP: Net income (loss) attributable to controlling interest, Income (loss) before income taxes attributable to controlling interest, Unrealized loss (gain) on equity investment, Adjusted income (loss) before income taxes, Non-GAAP: Adjusted net income (loss) attributable to controlling interest, GAAP: Earnings (losses) per diluted share, Income tax expense attributable to controlling interest, Non-GAAP: Adjusted earnings (losses) per diluted share attributable to controlling interest, Depreciation and amortization, net of (gain) loss, Basic weighted average shares outstanding, Diluted weighted average shares outstanding, Customer receivables, net of allowance of $1,019 and $11, respectively, Less accumulated depreciation and amortization, Current maturities of long-term debt and finance leases, Long-term debt and finance leases, net of current maturities, Total liabilities and stockholders' equity. Management compensates for these limitations by relying primarily on GAAP results and using non-GAAP financial measures on a supplemental basis. These figures. When the day is filled with news of mass shootings, police malfeasance and "me too" courtroom escapades, people turn to entertainment media, where they watchas it turns outmore negativity, a . Nokia achieves new download speed record of more than 2 Gbps over a distance of almost 11 kilometers. The non-GAAP information provided is used by our management and may not be comparable to similar measures disclosed by other companies. During the second half of 2021, Variants turnover, utilization, and revenue per tractor per week began to deteriorate, and these trends accelerated in the fourth quarter. Despite these achievements, our consolidated earnings were disappointing primarily due to operational challenges at Variant that were negatively impacting our ability to scale profitably, which we are actively addressing. In 2023, we will continue to focus on execution, servicing our customers at a high level and reducing our spot market exposure. Through its subsidiaries, U.S. Xpress Enterprises, Inc. offers customers over-the-road, dedicated, and brokerage services. Management uses this metric to monitor the Companys financial leverage and believes it is useful to investors and securities analysts as it provides insight into our financial strength. You should not consider the non-GAAP measures used herein in isolation or as substitutes for analysis of our results as reported under GAAP. In this press release, such statements may include, but are not limited to, statements in the Certain Expenses and Outlook sections, statements regarding the freight environment, future utilization, the expected impact of the Companys realignment plan, including lowering fixed and other costs, allocating capital to projects that will drive the business forward, and any other statements concerning: any projections of earnings, revenues, cash flows, capital expenditures, compliance with financial covenants, or other financial items; any statement of plans, strategies, or objectives for future operations; any statements regarding future economic or industry conditions or performance; any statements regarding our responses to COVID-19 and the associated economic conditions; and any statements of belief and any statements of assumptions underlying any of the foregoing. Chattanooga, Tenn. - Dec. 30, 2021 - U.S. Xpress Enterprises, Inc. (NYSE: USX) today announced significant progress in key metrics gauging its commitment to its communities and team members. Some restrictions may apply. Operating revenue was $547.8 million, an increase of $56.7 million compared to the third quarter of 2021. As a reminder, most of the Companys annual capital expenditures relate to tractors and trailers, for which the Company generally uses a combination of loan financing agreements and finance lease arrangements to fund these acquisitions. Our team can write and distribute a press release that meets your business goals and budget. Track our progress on our mission to make goods move better. During the quarter, the rate pressure we experienced from our spot market exposure more than offset the operational progress we made. View selections from our video stream . Year-to-date, through September 30, 2022, capital expenditures, net of proceeds were $113.8 million, and exclude equipment financed under operating leases. Researchers from Mayo Clinic in Rochester, University of California San Francisco in Fresno, and Stony Brook University Medical Center in New York performed a multicenter retrospective study of . Additional information regarding the Companys operating results is provided below as well as on the Companys investor page at investor.usxpress.com. You can sign up for additional subscriptions at any time. PECO Connection is your source for stories and information about our work to empower customers and connect our diverse communities. Chattanooga, Tenn. - March 22, 2022 - U.S. Xpress Enterprises, Inc. (NYSE: USX) today was named to Newsweek's list of America's Most Trusted Companies 2022. Vice President, Investor Relations CHATTANOOGA, Tenn.-- (BUSINESS WIRE)-- U.S. Xpress Enterprises, Inc. (NYSE: USX) today announced results for the fourth quarter of 2021. This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. FICO Granted 12 Patents Used in FICO Platform to Operationalize Real-Time Decisions and Maximize Customer Experiences . CHATTANOOGA, Tenn., November 03, 2022 -- ( BUSINESS WIRE )-- U.S. Xpress Enterprises, Inc. (NYSE: USX) today announced financial and operating results for the third quarter of 2022. Brokerage revenue was $75.5 million, which was a decline of 16.9% compared to the third quarter of 2021. Details subject to change without notice. Readers should review and consider these factors along with the various disclosures by the Company in its press releases, stockholder reports, and filings with the Securities and Exchange Commission. https://www.businesswire.com/news/home/20220209005671/en/, Investor: Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. U.S. Xpress Enterprises, Inc. (NYSE: USX) today announced financial and operating results for the fourth quarter and full year 2022. 423-633-7153 At school dismissal one sunny October day in Pineville, Louisiana, then-9-year-old . Additional information regarding the Companys operating results is provided below as well as on the Companys investor page at investor.usxpress.com. Operating revenue was $531.6 million, an increase of $76.0 million compared to the fourth quarter of 2020. Operating revenue was $542.5 million, an increase of 2.0%, compared to the fourth quarter of 2021. Third Quarter 2022 Highlights compared to Third Quarter 2021 Operating revenue of $547.8 million compared to $491.1 million U.S. Xpress implements a range of digital initiatives and technology to drive innovation in the industry, streamline the value chain for customers and improve the overall driver experience. Brokerage revenue increased 46.5% to $111.9 million in the fourth quarter compared to $76.4 million in the fourth quarter of 2020. It's our life. This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. Chattanooga, Tenn. (Nov. 14, 2022) U.S. Xpress (NYSE: USX) has once again been recognized as a top employer for military veterans and earned the 2023 Military Friendly Employer and Chattanooga, Tenn. (Oct. 24, 2022) U.S. Xpress (NYSE: USX) was honored this weekend by the American Trucking Associations (ATA) for its equitable policies and initiatives in Chattanooga, Tenn. (Aug. 23, 2022) U.S. Xpress (NYSE: USX) today announced a partnership with Hamilton County Schools Future Ready Supply Chain Program. Adjusted net loss attributable to controlling interest1 was $2.0 million, or $0.03 per diluted share as compared to adjusted net income attributable to controlling interest of $7.6 million or earnings per diluted share of $0.15, in the fourth quarter of 2020. Management believes the use of non-GAAP measures assists investors and securities analysts in understanding the ongoing operating performance of our business by allowing more effective comparison between periods. Matt Garvie arizona's home page: azcentral.com is the digital home of The Arizona Republic newspaper, with breaking news and in-depth coverage of sports, things to do, travel and opinions. Call for details. U.S. Xpress (USX) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.03. Men were significantly more vulnerable than women to overdose deaths involving opioid and stimulant drugs in 2020-2021, according to a new study analyzing death records data from across the United States. Since mid-December, the operational changes that we have made have translated to improvements in utilization, revenue per tractor and overhead per tractor.. The conference call can be accessed live by dialing 1-888-800-8518 or, for international callers, 1-646-307-1863 and asking to be joined to the US Xpress Third Quarter 2022 Earnings Conference Call. The following factors, among others, could cause actual results to differ materially from those in the forward-looking statements: general economic conditions, including inflation and consumer spending; political conditions and regulations, including future changes thereto; changes in tax laws or in their interpretations and changes in tax rates; future insurance premiums and claims experience, including adverse changes in claims experience and loss development factors, or additional changes in management's estimates of liability based upon such experience and development factors that cause our expectations of insurance premiums and claims expense to be inaccurate or otherwise impacts our results; impact of pending or future legal proceedings; future market for used revenue equipment and real estate; future revenue equipment prices and availability; future capital expenditures, including equipment purchasing and leasing plans and equipment turnover (including expected trade-ins); fleet age; future depreciation and amortization; changes in managements estimates of the need for new tractors and trailers; future ability to generate sufficient cash from operations and obtain financing on favorable terms to meet our significant ongoing capital requirements; our ability to maintain compliance with the provisions of our credit agreement; freight environment, including freight demand, rates, capacity, and volumes; future asset utilization; loss of one or more of our major customers; our ability to renew dedicated service offering contracts on the terms and schedule we expect; surplus inventories, recessionary economic cycles, and downturns in customers' business cycles; strikes, work slowdowns, or work stoppages at the Company, customers, ports, or other shipping related facilities; increases or rapid fluctuations in fuel prices, as well as fluctuations in surcharge collection, including, but not limited to, changes in customer fuel surcharge policies and increases in fuel surcharge bases by customers; interest rates, fuel taxes, tolls, and license and registration fees; increases in compensation for and difficulty in attracting and retaining qualified professional drivers and independent contractors; independent contractors we contract could be deemed by regulators or the judicial process to be employees; seasonal factors such as harsh weather conditions that increase operating costs; competition from trucking, rail, intermodal, and brokerage (including digital brokerage) competitors; changes in regulatory requirements that increase costs, decrease efficiency, or reduce the availability of drivers; safety-related evaluations and rankings under the Federal Motor Carrier Safety Administrations Compliance, Safety, Accountability program; increasing attention on environmental, social and governance matters; future safety performance; our ability to reduce, or control increases in, operating costs; future third-party service provider relationships and availability; execution of the Companys current business strategy or changes in the Companys business strategy; the ability of the Companys infrastructure to support future organic or inorganic growth; our ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; our ability to adapt to changing market conditions and technologies, including the future use of autonomous tractors; disruptions to our information technology; the cost of and our ability to effectively and efficiently implement technology initiatives; costs, diversion of managements attention, and potential payments made in connection with the multiple class action lawsuits a stockholder derivative lawsuit arising out of our IPO; credit, reputational and relationship risks of certain of our current and former equity investments; the dual class structure of our common stock has the effect of concentrating voting control with certain members of the Fuller and Quinn families, which limits or precludes the ability of other stockholders to influence corporate matters; our ability to maintain effective internal controls without material weaknesses; and the impact of the coronavirus outbreak or other similar outbreaks.
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