U.S. Xpress 1st-Quarter Revenues Up Nearly 12%
U.S. Xpress Enterprises Inc. announced higher operating revenues and earnings for the first quarter ended March 31, 2003.
U.S. Xpress Enterprises Inc. announced higher operating revenues and earnings for the first quarter ended March 31, 2003.
Operating revenues increased 11.9% to $220.7 million, compared with $197.2 million for the first quarter of 2002. Net income for the first quarter was $121,000, or $0.01 per diluted share, compared with a loss of $1.4 million, or $0.10 per diluted share, in the first quarter of 2002. The first quarter of 2002 included a non-cash charge for the early extinguishment of debt of approximately $1.1 million, or $0.08 per diluted share.
"Although we posted year-over-year improvement in earnings for the fifth consecutive quarter, the impact from difficult weather conditions, the rapid spike in fuel prices that averaged approximately 38% above prior-year levels and a sluggish freight environment served to lessen the extent of year-over-year improvements achieved in our truckload operation," said Patrick Quinn, co-chairman of U.S. Xpress. "The higher fuel prices alone, net of fuel surcharges, reduced operating income in our truckload segment by approximately $3 million and earnings by $0.11 per diluted share.
"We are encouraged by the trend of improved operating results within each of our business segments. In the truckload segment, we posted an increase of 7.3% in revenues, net of fuel surcharges; realized a 2.8% increase in revenue per mile; and increased the average number of tractors by 4.7%. The end result was an 8.8% increase in truckload operating income to $3.0 million -- a figure that would have been nearly twice as much had we not experienced the dramatic rise in fuel costs during the quarter."
More Drivers
Short Takes: Inside K&B’s Truck Safety Tech
Listen to learn how K&B Transportation uses cellphone-blocking technology, speed management systems, weather geofencing, bridge avoidance tools, and more to improve driver safety.
Read More →
Nussbaum Expands Driver Compensation with Pay Raises, Profit Sharing
Nussbaum Transportation said its latest compensation package could push first-year driver earnings above $90,000 in key hiring markets.
Read More →Listen: Inside Modern Fleet Safety: AI, Cameras & Speed Control at K&B Transportation
Fleet safety is evolving fast—and technology is at the center of it. Learn how a former commercial vehicle enforcement officer turned director of safety at K&B Transportation is embracing real-world safety technology.
Read More →
Maverick Announces 2026 Driver Pay Raises
New raises for Maverick Transportation drivers will take effect on May 31, 2026.
Read More →
Illinois Trucker Indicted for Nearly $22,000 in Ohio Turnpike Toll Evasion
Authorities say an Illinois trucker avoided paying tolls for two years, and now faces felony charges, possible prison time, and forfeiture of his Freightliner tractor.
Read More →
New Trojan Driver Cargo Theft Scam Bypasses Carrier Vetting Systems
Cargo theft rings plant operatives as drivers inside legitimate, fully vetted carriers, then execute coordinated thefts that look like a traditional straight theft from the outside.
Read More →
WIM, Trucker Path Name Top 3 Women-Friendly Truck Stops
ATA’s Women In Motion Council and Trucker Path highlight three truck stops that meet all seven safety-focused criteria and rank highest among female drivers.
Read More →
FMCSA Extends Paper Medical Card Exemption … Again
Five states still aren't ready to accept commercial driver medical exam information directly from the medical examiner's registry.
Read More →
Mack Launches Digital Driver Guide for Chassis-Specific Truck Info
Mack’s new, virtual owner’s manual delivers VIN-based, on-demand guidance for vehicle systems via web, app, and soon in-cab displays.
Read More →
Western Star Showcases Truckers' Pride and Skill
Western Star is expanding its Star Nation Experience in 2026, adding new competitions and dealer participation to highlight operator skills and promote careers in trucking.
Read More →
