U.S. Xpress Enterprises (USX) Misses Q3 EPS by 8c, Revs Beat

U.S. Xpress Enterprises (NYSE: USX) reported Q3 EPS of $0.07, $0.08 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $491.1 million versus the consensus estimate of $481.49 million.

“Our third-quarter results reflect further progress in our digital transformation, which is positioning us for long-term profitable growth against the backdrop of operating in an increasingly tight macro environment. During the third quarter, we successfully grew total tractor count sequentially, repriced most of our dedicated portfolio and grew revenue as well as the percentage of loads booked digitally in our Brokerage segment,” said Eric Fuller, President and CEO, U.S. Xpress. “From a financial results perspective, the Dedicated repricing and Variant tractor count growth were both weighted towards the end of the quarter and were outweighed by wage inflation and investments in our digital transformation that we expect to drive long-term profitable growth. We remain on track to exit the year with 1,500 tractors in Variant, and we continue to target doubling our revenues over the next four years.”

For earnings history and earnings-related data on U.S. Xpress Enterprises (USX) click here.

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