USA Truck Bounces Back in 4Q
USA Truck reported fourth-quarter net income of $14.8 million, or $1.84 per diluted share, on revenue of $83.8 million. The income includes the impact of the 2017 tax reform act, adding $12 million in income, or $1.49. Excluding the impact, income in the quarter was $2.8 million, or 35 cents a share. The company reported a net loss of $3.8 million, or 48 cents a share, in the fourth quarter of 2016.
Revenue in fourth quarter 2017 for the Van Buren, Ark.-based firm rose nearly 20% to $123.3 million from $103.1 million a year ago.
USA Truck ranks No. 70 on the Transport Topics top 100 list of the largest for-hire carriers in North America.
The trucking division in the fourth quarter saw operating income of $3.5 million compared with a $6.2 million loss a year ago. Revenue rose nearly 20% to $83.8 million, an improvement the company attributed to a rise in base revenue per loaded mile.
The unseated tractor percentage for the quarter was 5.5%, a 380 basis point improvement year-over-year. The average seated tractor count in the quarter was 1,547, an improvement of nearly 3%.
The USAT Logistics division reported fourth-quarter operating income of $1.9 million, a 29% rise, on revenue of $39.4 million, up 19%. A tight spot market, driven in part by the electronic logging device mandate, put pressure on margins as the quarter progressed, the company reported.
