Fleet Management

USA Truck Takes First Quarter Hit

April 26, 2000

SHARING TOOLS        | Print Subscribe
USA Truck, Inc., Van Buren, AR, suffered a first quarter loss it says was due largely to high fuel prices. The truckload fleet had record operating revenues of $55.1 million, up 52.3% from $36.2 million for the same quarter of 1999. But net income decreased 117.0% to a loss of $394,385, compared to a profit of $2.3 million for the first quarter of 1999.
Robert M. Powell, president and CEO, said, "We are extremely pleased with our revenue growth. However, our diesel cost per gallon for the quarter increased 50.3%. The after-tax effect of this increase amounted to 27 cents per common share. We have secured rate increases from a number of our customers but many of these changes occurred too late in the quarter to positively impact operating revenues. Although general economic conditions continued to be strong, driver turnover remains at record levels, forcing recruiting and training costs upward. During the quarter, recruiting and training costs were up 109.4%. Tractor utilization (miles per tractor per week) for the quarter slipped 8.9% to 2,144 miles per week."

Comment On This Story

Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


We offer e-newsletters that deliver targeted news and information for the entire fleet industry.


ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All