U.S. Xpress Reports Record Quarterly Earnings, Revenue

ruckload carrier U.S. Xpress Enterprises said late Thursday its fourth-quarter profit and revenue rose to new records.

The company earned $7.1 million or 46 cents a share, from $5.9 million or 40 cents a year earlier.

In late December, the carrier boosted its earnings range for the quarter to 43 cent to 47 cents a share. (Click here for previous coverage.)

For the year, the company’s income was $9.4 million or 59 cents a share, from $16.4 million or $1.14 in the previous year.

The 2005 results included a charge from sale U.S. Xpress’ sale and exit from the airport-to-airport business in the second quarter, when it sold its air operations to Forward Air Corp. (Click here for previous coverage.)

Revenue for the year rose 5.3% to $1.2 billion, the carrier said.

Truckload revenue in the fourth quarter, excluding fuel surcharges, rose 2.3% to $254.4 million.

"The record earnings were driven by strong truckload freight demand comparable to what we experienced in the fourth quarter of 2004, improved truckload pricing, decreasing fuel prices, and the reduction in operating losses at our Xpress Global Systems operation," Co-Chairman Patrick Quinn said in a statement.

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