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USA Truck Reports 3Q Loss
Truckload carrier USA Truck reported a third-quarter loss of $1.6 million, or 16 cents per share, compared with net income of $2.4 million, or 23 cents, a year ago.
Total revenue fell to $96.2 million, from $146.1 million, while trucking revenue fell to $78.5 million, from $98.6 million, the company said in a statement.
The company said that intermodal volumes were relatively flat, due to intensified competition in the container-on-flat-car market. But its trailer-on-flat-car revenue increased 14.8%.
鈥淭ruckload industry conditions remain challenging,鈥 Clifton Beckham, the company鈥檚 chief executive officer, said in a statement.
鈥淗owever, we believe that conditions have likely bottomed and continue to remain in the current recessionary trough of freight demand鈥 he said.
USA Truck is ranked No. 50 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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