image1.jpg

USA Truck Reports Second Quarter 2019 Results

2Q 2019 earnings per diluted share of $0.00 versus 2Q 2018 earnings per diluted share of $0.31
2Q 2019 adjusted earnings per diluted share(a) of) $0.03 when adjusted for acquisition related intangible amortization versus 2Q 2018 adjusted earning per diluted share(a) of $0.31
Recorded $0.6 million, or $0.05 per diluted share, net of tax, in charges related to the impairment of assets held for sale, the Arkansas flood, and accelerated compensation expense
2Q 2019 trucking operating revenue increased 12.6% to $96.5 million from $85.7 million in 2Q 2018

Van Buren, AR – July 25, 2019 –
USA Truck Inc. (NASDAQ: USAK), a leading capacity solutions provider, today announced its financial results for the three and six months ended June 30, 2019.

For the quarter ended June 30, 2019, consolidated operating revenue was $133.6 million compared to $135.4 million for the prior-year period. Base revenue, which excludes fuel surcharge revenue, was $116.7 million compared to $119.1 million for the 2018 period. The Company reported net income of $0.00 million, or $0.00 per diluted share for the second quarter 2019 and adjusted net income(a) of $0.3 million, or $0.03 per diluted share, compared to net income and adjusted net income(a) of $2.5 million, or $0.31 per diluted share for the same quarter in 2018. The Company's second quarter 2019 consolidated operating ratio was 98.5%, compared to 96.8% in the comparable 2018 quarter. Additionally, the Company recorded expenses of $0.6 million, or $0.05 per diluted share, net of tax, during the second quarter of 2019 related to the impairment of certain tractors held in assets held for sale, the Arkansas flood, and accelerated vesting of our former chairman's restricted stock and retainer.

President and CEO James Reed commented, "The second quarter of 2019 was a challenge due to the softer freight environment, declining spot rates and unrealized bid awards. These factors combined to put pressure on our performance. We elected to procure additional freight volumes from the spot market in the trucking business to mitigate unrealized customer freight tenders. Despite increased spot market participation, we were able to maintain the gains made in past quarters in our base revenue per loaded mile, and further improved our deadhead percentage both year over year and sequentially. Declining spot rates experienced during the quarter also put pressure on USAT Logistics' volumes and compressed average revenue per load in that business.

Our competitive response was to implement the following initiatives that, we believe, will improve our operational and financial results as we move into the second half of 2019:

Hiring additional sales personnel in the USAT Logistics segment to increase volume;
Continuing the company-wide campaign to reduce fixed costs by 5-10%;
Targeting customer campaigns to improve actualization of bid awards received; and
Expanding the terminal footprint and decreasing dependence on outside repairs in high volume locations, while offering amenities to our drivers in those locations.



The following information was filed by Usa Truck Inc (USAK) on Thursday, July 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Usa Truck Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Usa Truck Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account