USA Truck Whittles 1Q Loss

by Talk Business & Politics ([email protected]) 69 views 

USA Truck Inc. said May 6 cost controls helped narrow the company’s loss over the first quarter a year ago.

The Van Buren-based truckload carrier posted a net loss of $2.47 million, or 24 cents per share for the quarter that ended March 31, compared to a net loss of $4.87 million, or 47 cents per share, in the same period a year earlier.

The results were better than the loss of28 cents per share forecast by two analysts surveyed by Thomson Reuters.

Revenue, including fuel surcharges, rose 6.76 percent to $132.03 million.

“Most costs associated with our trucking segment were lower due to cost-control initiatives, including efforts to reduce driver turnover which improved by 22.6 percentage points year-over-year,” president and CEO John Simone said in a news release.

Simone, who joined USA Truck in February, said in the release he believes the company has a strong foundation and positive momentum.

“We expect to build upon that foundation and momentum by adding greater clarity, focus and execution,” he said. “Our strategy: Return to profitability and restore shareholder value through operational excellence, profitable revenue growth and cost efficiencies. We have identified, developed and begun executing high-leverage activities in each of these critical areas.”

USA Truck’s shares closed May 6 at $5.95, up 58 cents or 10.87 percent, on the Nasdaq. Shares have traded between $2.65 and $6.98 in the past year.