USA Truck News Updates

USA Truck’s financial results for the fourth quarter of 2018 show progress in boosting the profitability of its trucking business while efforts continue to do the same for the company’s freight brokerage business unit.

USA Truck reported higher revenues and profits in the third quarter of 2018, continuing a financial turnaround started in 2017.

USA Truck announced the purchase of Davis Transfer Co., a family-owned trucking company based in Carnesville, Ga., for $53 million in cash and stock, a deal that signals the start of a more aggressive growth strategy at USA Truck by the company’s new management team.

USA Truck reported second-quarter net income of $2.5 million, or 31 cents per share, compared with a net loss of $2.8 million, or a minus 35 cents a share loss, in the second quarter of 2017. Operating revenue came in at $135.4 million, up more than 23% from $107.4 million a year ago.

USA Truck reported first-quarter 2018 net income of $1 million, or 13 cents per share, compared with a net loss of $4.9 million, or minus 61 cents a share, in the first quarter of 2017.

Although trucking is undergoing rapid advancements in technology, Jeff Harris, the new general chairman of American Trucking Associations’ Technology & Maintenance Council, said the industry needs to get “back to the basics” when it comes to repairing equipment amid a massive industry shortage of technicians.

USA Truck reported fourth-quarter net income of $14.8 million, or $1.84 per diluted share, on revenue of $83.8 million.

USA Truck Inc. got out of its losses doldrums in the third quarter, reporting net income of $400,000, or 5 cents per share, in contrast to a net loss of $700,000, or negative 9 cents per share, in the third quarter a year ago.

USA Truck Inc. reported a net loss of $2.8 million or 35 cents per share in the second quarter, marking the sixth consecutive quarter the company has lost money.

The truckload industry continued to struggle in the second quarter and earnings are expected to be down year-over-year for most carriers, based on forecasts from industry analysts and interviews with several fleets.