USA Truck Reports 1Q Loss of $2.6M

USA Truck Inc. of Van Buren reported it lost $2.6 million in the first quarter of fiscal 2020, a decrease from a $1.5 million profit a year ago.

Earnings per share was a loss of 30 cents; a year ago, it was 18 cents.

Revenue was $126.8 million, compared to $134 million for the first quarter of fiscal 2019.

“During the first quarter, many of our operational initiatives took hold as loaded miles per available truck increased, empty miles decreased, and unseated truck count metrics improved. We also made significant progress in our move to regionalization as we fully staffed our teams in the operating regions,”  President and CEO James Reed said in a news release. “USAT Logistics accelerated volume throughout and particularly late in the quarter which we expect will have meaningful flow-through in future periods. 

“And while the impact of our operational improvements was muted by a tough pricing environment early on and then complicated by the COVID-19 pandemic later in the quarter, our team rose to the challenge posed by the pandemic as we delivered high quality service through each stage of the crisis,” he continued. “Moving forward, we will continue our focus on protecting the health and safety of our associates and customers alike, while improving the operating metrics we control. We believe we are well positioned for the future with a dense basket of essential customers and freight that should sustain us through a variety of potential business cycles."

USA Truck’s Trucking division reported revenue of $94 million, down 1% year over year. Trucking reported 45.7 million miles covered, up from 42.8 million miles a year ago, but the key metric of revenue per truck per week was $3,223, down from $3,375 in the same quarter of 2019.

The Logistics division reported revenue of $35.8 million, down from $41.4 million a year ago.