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.
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