Car­rier re­ports 2Q loss of $2.9M

USA Truck off 35 cents a share

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM - DAL­TON LAFERNEY

USA Truck re­ported late Wed­nes­day a loss of nearly $3 mil­lion for its sec­ond quar­ter, the sixth con­sec­u­tive quar­ter with­out post­ing a profit and miss­ing an­a­lyst’s es­ti­mates for the pe­riod.

The com­pany re­ported a loss of $2.9 mil­lion for the pe­riod end­ing June 30, com­pared with a loss of $1.3 mil­lion for the same pe­riod last year.

The com­pany lost 35 cents per share for the pe­riod com­pared with a loss of 15 cents per share for the sec­ond quar­ter of 2016. A con­sen­sus of three an­a­lysts sur­veyed by Ya­hoo Fi­nance pre­dicted a loss of 10 cents per share.

Rev­enue this quar­ter was about $107.4 mil­lion com­pared with $109.8 mil­lion for the same pe­riod last year. One an­a­lyst sur­veyed by Ya­hoo pre­dicted the com­pany would re­port $99.6 mil­lion.

In a pre­pared state­ment, USA Truck Chief Ex­ec­u­tive James Reed noted that lead­er­ship changes have drawn the com­pany into the spot­light as it grap­ples with its di­rec­tion.

“We filled out our lead­er­ship team dur­ing the quar­ter, with both pre­vi­ously an­nounced and new ad­di­tions,” Reed said. “Each of th­ese lead­ers per­son­ify the type of prin­ci­pled, fo­cused, ex­pe­ri­enced, and re­sults­driven in­di­vid­u­als we hope will drive USA Truck to its full po­ten­tial.”

Con­sol­i­dated ex­penses jumped by al­most $100,000, the com­pany said in a re­lease. The most no­table in­crease came from pur­chased trans­porta­tion, which cost USA Truck about $41 mil­lion this sec-

ond quar­ter, up $3 mil­lion from the same pe­riod last year.

From the truck­ing seg­ment, the com­pany made about $62.7 mil­lion in rev­enue but had $67.5 mil­lion in ex­penses, about $2 mil­lion less than 2016’s sec­ond-quar­ter ex­penses in the seg­ment. The lo­gis­tics seg­ment raked in $33.3 mil­lion, with about $31.4 mil­lion in ex­penses. USA Truck spent more than a $1 mil­lion in this seg­ment com­pared with the same time last year.

USA Truck, based in Van Buren, is in line with oth­ers in this sec­tor, as com­pa­nies are spend­ing more money this sec­ond quar­ter than in 2016, quar­terly re­ports show.

J.B. Hunt Trans­port Ser­vices spent about $1.5 bil­lion in the pe­riod from April to June, while in 2016 dur­ing the same time, the com­pany spent about $1.4 bil­lion. P.A.M. Trans­porta­tion Ser­vices spent about $105.7 mil­lion in the sec­ond quar­ter of 2017, and $104 mil­lion last year.

USA Truck will host its con­fer­ence call to in­vestors to­day.

The com­pany’s stock fell 1 per­cent Wed­nes­day, clos­ing at $8.81 in trad­ing on the Nasdaq prior to the earn­ings re­lease.

Arkansas Demo­crat-Gazette

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