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USA Truck Reports Profitable Quarter, Year

2 min read

USA Truck Inc. of Van Buren on Thursday reported fourth-quarter income of $5.9 million for 2020, an increase from a loss of $4.8 million in the same quarter a year ago.

Revenue for the quarter was $158.8 million, a steep increase from $124.1 million in the same quarter a year ago. Earnings per share was 66 cents, up from a loss of 56 cents a year ago.

For fiscal year 2020, USA Truck announced revenue of $551.1 million, up from $522.6 million in fiscal 2019. Income for the year was $4.7 million, up from a loss of $4.7 year the previous year.

Earnings per share for the year was 53 cents, up from a loss of 55 cents.

“The fourth quarter of 2020 was the best quarterly earnings per share in our company history,” said USA Truck CEO James Reed. “I am very pleased with and proud of the teamwork, cultural buy-in, and determination shown by our entire team of drivers and driver support that created these results, which clearly demonstrate our collective focus on delivering improved financial and operational results.”

The company’s trucking segment reported quarterly revenue of $104.3 million, up from $92.1 million, and quarterly operating income of $6.4 million, up from a loss of $2.6 the previous year. For fiscal year 2020, the division reported revenue of $384.3 million, up from $377.1 million, and operating income of $9.3 million, up from a loss of $447,000.

USA Truck reported its revenue per truck per week, a key metric, was $3,847 for the quarter, up from $3,163 in the same quarter of 2019. For fiscal year 2020, the weekly truck revenue was $3,373, up from $3,238 in 2019.

The company’s USAT Logistics segment reported quarterly revenue of $65.3 million, up from $33.6 million, and operating income of $3.4 million, up from a loss of $939,000. For fiscal 2020, revenue was $191.9 million, up from $154 million, and operating income was $3.6 million, up from $2.8 million.

“The robust demand and capacity constraints in the fourth quarter created a strong pricing environment that we capitalized on in both the trucking and USAT Logistics segments through pricing discipline and partnership with customers,” Reed said.

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