USA Truck Reports Big Q1 Improvement

We were unable to send the article.

USA Truck Inc. of Van Buren reported Thursday first-quarter 2021 income of $3.6 million, an increase from a loss of $2.55 million in the same quarter a year ago.

Revenue for the quarter was $158.5 million, up from $126.3 million a year ago. Earnings per share was 40 cents, up from 30 cents in the same quarter a year ago.

“The first quarter marked the best first quarter earnings in the company’s history,” USA Truck CEO James Reed said. “I am proud of how the team has bought into our vision, and how our transformation continues to manifest itself in improved operating and financial results.”

USA Truck’s trucking segment reported revenue of $103.1 million, up from $93.99 million a year ago. Operating income was $3.5 million, up from a loss of $1.7 million. 

Revenue per truck per week was $3,814, up from $3,223 a year ago.

“Freight demand continued to be strong, driven by increased consumer spending and customers restocking depleted inventory levels,” Reed said. “Additionally, capacity has remained tight as the recruitment of professional drivers continues to be an industrywide challenge. While these two dynamics have pushed shipping rates upward, much of this quarter’s improvement is due to the continued transformation of the trucking segment through regionalization, optimization, pricing discipline, and a continued focus on safety and cost control.”

The company’s logistics segment reported revenue of $68.4 million, up from $35.8 million a year ago. Operating income was $2.5 million, up from a loss of $624,000.