U.S. Xpress Announces Record Quarterly Results
October 21, 1998
Oct. 22 – U.S. Xpress Enterprises, Chattanooga, TN, announced record revenue, income and earnings for the quarter that ended Sept. 30.
The company reported operating revenue for the third quarter of $150.2 million, a 30.2% increase from the same quarter last year. Operating income was up 42%, and net income was up 34.1%. Earnings per share saw an increase of 18.2%.
Co-Chairman Pat Quinn points out that U.S. Xpress’ revenue growth has exceeded 30% in three of the last four quarters. In addition, for two quarters in a row, the operating ratio has fallen below 92%, he says, thanks in part to selected increases in freight rates and low fuel prices.