USA Truck’s 3Q Profit Plunges

Truckload carrier USA Truck said Thursday its third-quarter profit dropped to a near loss, due to a “challenging” freight environment.

The company’s profit fell to $16,000 or zero cents a share, from $3.4 million or 30 cents a year ago. Revenue rose 2.7% to $99.3 million.

“The current freight environment continues as one of the most challenging we have ever seen,” Chief Executive Officer Cliff Beckham said in a statement, adding that trucking revenue increased 2.5%.

“For the second consecutive year, we have experienced virtually no fall peak shipping season. That soft freight demand, an adverse jury verdict in a contract dispute and high fuel prices were the dominant influences on our earnings during the quarter,” Beckham said.

USA Truck is ranked No. 57 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.