U.S. Xpress’ Income Falls, Revenue Rises in Quarter

ruckload carrier U.S. Xpress Enterprises said late Tuesday that its third-quarter net income fell to $4 million or 25 cents a share, from $5.4 million or 38 cents a year earlier.

Revenue for the quarter rose 3.1% to $297.2 million. Truckload revenue excluding fuel surcharges rose 3.1% to $241.1 million, U.S. Xpress said in a statement.

Revenue of the company’s Xpress Global Systems unit fell to $24.1 million for the quarter, from $41.5 million a year earlier, due primarily to U.S. Xpress’ sale and exit from the airport-to-airport business in the second quarter. (Click here for previous coverage.)

“Strong demand in truckload has enabled us to improve pricing and yields. Consistent with others in our industry, we are also aggressively pursuing a more rational fuel surcharge program which we expect to help mitigate the impact from high fuel prices,” he said.

U.S. Xpress is ranked No. 22 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.