U.S. Xpress, Chattanooga, Tenn., has lowered its 1st quarter expectations. The company told the investment community in a Wednesday press release, it expects to post a small loss for the quarter.
That contrasts sharply with the company’s recent record profits.
U.S. Xpress cited higher fuel costs, a decline in freight and the limited pool of drivers as factors. In that regard, the company noted a 2% decline in “average seated tractors when compared to the fourth quarter of 2004.”
U.S. Xpress co-chairmen, Pat Quinn and Max Fuller, attending the Newport Economic Summit in Louisville, Ky., yesterday said freight had not rebounded as had been expected.
That contrasts sharply with the company’s recent record profits.
U.S. Xpress cited higher fuel costs, a decline in freight and the limited pool of drivers as factors. In that regard, the company noted a 2% decline in “average seated tractors when compared to the fourth quarter of 2004.”
U.S. Xpress co-chairmen, Pat Quinn and Max Fuller, attending the Newport Economic Summit in Louisville, Ky., yesterday said freight had not rebounded as had been expected.
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