USA Truck has added another new executive to its leadership team, bringing on Rick Hainlen as its vice president of revenue operations.
Hainlen has a background in revenue management, working for companies such as Red Classic Transportation Services, where he served as director of yield management and network optimization. He held similar positions with several carriers including P.A.M. Transportation, Celadon Group, CFI, and Anderson Trucking Service.
This is the latest in a string of leadership hires for Van Buren, Arkansas-based USA Truck, which in the past few months named a new president and CEO, executive vice president, trucking operations president, and vice president and chief technology officer.
“With all respect to the incredible talent we’ve added to our leadership team in the past 60 days, Rick may be the most significant addition we’ve made,” said James Reed, president and CEO of USA Truck. “He is widely recognized as one of the most talented and experienced pricing leader in the truckload sector.”
Earlier this month, USA Truck reported its net loss in the first quarter widened to $4.9 million, or 61 cents per share, compared to a net loss of $1.8 million, or 19 cents per share, a year earlier. This happened as revenue declined to $101.7 million from $110.6 million. A consensus estimate from analysts had forecast a loss of 12 cents per share for the first quarter.
However, USA Truck expects to “return to operating profitability” in the third quarter, said Reed when announcing quarterly earnings. “Having now completed three months in the role as USA Truck’s CEO, I believe we are making important strides toward improving our trucking segment’s productivity, and taking the right steps in building a lean and efficient company that can generate profits in the relative near-term and create sustainable value over time."