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Two trucking operations reported their second-quarter financials on Wednesday, with one reporting its first profit since purchasing LTL carrier Con-way last year, while the other reported a loss that was attributed to falling rates and freight volume.
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Loose capacity and a sluggish economy in the first quarter helped drive down earnings for Roadrunner, XPO and USA Truck.
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Signaling an increased strategic focus on logistics, USA Truck has re-branded its asset-light logistics business, formerly known as Strategic Capacity Solutions, to USAT Logistics.
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USA Truck has installed LinkeDrive’s PedalCoach mobile application in its fleet of trucks, designed to coach better driving habits to increase fuel efficiency.
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UPS Inc. reported its profit skyrocketed in the fourth quarter of the year, totaling $1.33 billion compared to $453 million a year earlier as the company also beat an earnings forecast. USA Truck and Ryder also saw higher profits.
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USA Truck has appointed John R. Rogers as president and chief executive officer. He replaces Thomas Glaser, who will remain on the board and was appointed vice chairman.
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XPO Logistics, which closed this week on its purchase of Con-Way Inc., reported more revenue but a bigger loss in its third-quarter earnings report, while the mainly truckload fleet USA Truck showed a smaller profit.
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USA Truck has implemented its Choose Your Hometime initiative that allows over-the-road driving team members to select when and where they take time off.
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Roadrunner Transportation Systems Inc. on Tuesday reported increases for both profit and revenue for the second quarter of the year.
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John M. Simone has resigned from his position as chief executive officer and director to focus on treatment and recovery from lung cancer.
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