U.S. Xpress Enterprises, Inc., the fifth-largest publicly owned truckload carrier in the United States, announced operating revenues and earnings for the second quarter ended June 30, 2003.
Operating revenues increased 7.6% to $231.9 million, compared with $215.6 million for the second quarter of 2002. For the six months ended June 30, 2003, revenues increased 9.6% to $452.6 million from $412.9 million in the prior-year period.
Commenting on the announcement, Patrick Quinn, co-chairman of U.S. Xpress, stated, "We are pleased with the continued trend of sequential and year-over-year improvement in our operating results. In our truckload operations, operating income and revenues improved during the second quarter despite the lackluster economic environment, which adversely impacted loaded miles per tractor. Revenue excluding the effect of fuel surcharges increased 3.2% to $197.0 million as we continued to expand our regional and dedicated contract operations. The 10.7% increase to $5.7 million in operating income was achieved through a 2.9% increase in revenue per loaded mile and control of fixed expenses."
Operating revenues increased 7.6% to $231.9 million, compared with $215.6 million for the second quarter of 2002. For the six months ended June 30, 2003, revenues increased 9.6% to $452.6 million from $412.9 million in the prior-year period.
Commenting on the announcement, Patrick Quinn, co-chairman of U.S. Xpress, stated, "We are pleased with the continued trend of sequential and year-over-year improvement in our operating results. In our truckload operations, operating income and revenues improved during the second quarter despite the lackluster economic environment, which adversely impacted loaded miles per tractor. Revenue excluding the effect of fuel surcharges increased 3.2% to $197.0 million as we continued to expand our regional and dedicated contract operations. The 10.7% increase to $5.7 million in operating income was achieved through a 2.9% increase in revenue per loaded mile and control of fixed expenses."
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