Exhibit 99.1

 

 

USA Truck Reports Second Quarter 2018 Results

 

 

2Q 2018 net income of $2.5 million, or $0.31 per diluted share versus 2Q 2017 net loss of ($2.8) million, or ($0.35) per diluted share

 

2Q 2018 consolidated operating revenue increased 26.1% to $135.4 million from $107.4 million in 2Q 2017

 

Continued YoY improvement in base revenue per loaded mile, base revenue per available tractor per week, and average unseated tractor count

 

Van Buren, AR – July 26, 2018USA Truck, Inc. (NASDAQ: USAK), a leading capacity solutions provider, today announced its financial results for the three and six months ended June 30, 2018.

 

For the quarter ended June 30, 2018, consolidated operating revenue was $135.4 million compared to $107.4 million for the prior-year period. Base revenue, which excludes fuel surcharge, was $119.1 million compared to $96.0 million for the 2017 period. The Company reported net income of $2.5 million, or $0.31 per diluted share for the second quarter 2018, compared to a net loss of ($2.8) million, or ($0.35) per diluted share, for the same quarter in 2017. The Company’s second quarter 2018 consolidated operating ratio was 96.8%, compared to 102.8% in the comparable 2017 quarter.

 

President and CEO James Reed commented, “USA Truck maintained momentum through the second quarter of 2018, delivering the fourth consecutive quarter of consolidated profitability, as well as producing positive operating income in both the Trucking and Logistics segments. Our trucking operations generated impressive year-over-year and sequential progress in our most critical metric, revenue per truck per week, which was a key contributing factor in our Trucking segment’s operating ratio improvement of 930 basis points year over year and 310 basis points sequentially. Our continued focus on strengthening strategic customer relationships, adding density to our network, and providing strong customer service has also led to new dedicated opportunities which we expect will enhance utilization and be accretive to the bottom line. We remain focused on seating trucks, improving base revenue per available tractor per week and increasing volume in our USAT Logistics segment. We believe increased performance in these areas will continue to deliver on our goals of continued improvement in our consolidated results and maximizing shareholder value.”

 

Trucking: For the second quarter of 2018, Trucking operating revenue increased $14.0 million, or 19.6%, to $85.6 million, compared to the second quarter of 2017.  This increase was primarily due to a 21.7% increase in base revenue per loaded mile. Trucking operating income was $2.2 million for the 2018 period, reflecting an operating ratio of 97.5%, compared to a ($4.8) million operating loss and an operating ratio of 106.8% for the comparable 2017 period. This represents an improvement of $7.0 million year-over-year in operating income and a 930 basis point improvement in operating ratio.

 

Trucking operations showed the following during the second quarter 2018:

 

 

Base revenue per available tractor per week increased $564 per week, or 19.5%, when compared to the second quarter of 2017, and increased $203 per week, or 6.3% sequentially over the first quarter of 2018.

 

 

Base revenue per loaded mile increased 21.7% to $2.145 for second quarter 2018 from $1.762 in second quarter 2017. This continues a trend of sequential and year-over-year increases that began mid-2017 with focused network and rate improvement efforts.

 

 

The following information was filed by Usa Truck Inc (USAK) on Thursday, July 26, 2018 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.

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