us xpress press release today

View selections from our video stream . During the third quarter, the Company took action to reduce operating expenses. Fourth Quarter 2022 Highlights (compared to Fourth Quarter 2021 unless noted otherwise) Operating revenue of $542.5 million compared to $531.6 million US Xpress pursues Variant turnaround to make digital fleet 'a scalable U.S. Xpress shows no marked improvement at Variant Management uses this metric to monitor the Companys financial leverage and believes it is useful to investors and securities analysts as it provides insight into our financial strength. U.S. Xpress honors 181 professional drivers for 241 million safe miles The first four Million Miler in company history recognized. The full, detailed forecast can be found on the Company blog. Further, management uses non-GAAP Adjusted Operating Ratio, Adjusted Operating Income (Loss), Adjusted Net Income (Loss) Attributable to Controlling Interest, and Adjusted EPS measures on a supplemental basis to remove items that may not be an indicator of performance from period-to-period. Brokerage revenue increased 46.5% to $111.9 million in the fourth quarter compared to $76.4 million in the fourth quarter of 2020. Release Date. Contact: Mary Fortune, Director, Corporate CommunicationsEmail: mfortune@usxpress.com, Chattanooga, Tenn. (May 12, 2023) U.S. Xpress recently honored 149 professional truck drivers for more than 218 million combined miles of safe driving. Operating loss was $5.7 million for the fourth quarter of 2022 compared to $5.1 million in the fourth quarter of 2021. ODNI Releases Report on the Potential Links Between the Wuhan Institute However, significant cost inflation weighed on the OTR divisions contribution to overall Truckload segment results in the third quarter. The decrease in Brokerage revenue was driven by a 33.6% decrease in load count which more than offset the 25.3% increase in revenue per load compared to the third quarter of 2021. Operating revenue was $547.8 million, an increase of $56.7 million compared to the third quarter of 2021. Through its subsidiaries, U.S. Xpress Enterprises, Inc. offers customers over-the-road, dedicated, and brokerage services. A McKinsey & Co. study last month warned the US risks a shortfall of as many as 450,000 nurses. azcentral.com and The Arizona Republic: Phoenix and Arizona news Net loss attributable to controlling interest for the third quarter of 2022 was $19.8 million, or $0.38 per diluted share, compared to $5.5 million, or $0.11 per diluted share, in the third quarter of 2021. Such statements may be identified by their use of terms or phrases such as "expects," "estimates," "projects," "believes," "anticipates," "plans," "intends," outlook, strategy, optimistic, will, could, should, may, focus, seek, potential, continue, goal, target, objective, derivations thereof, and similar terms and phrases. CISA Releases One Industrial Control Systems Advisory This increase was due to the higher revenue per load and lower purchased transportation expense in the fourth quarter as compared to the fourth quarter of 2021. These headwinds more than offset the cost savings in the quarter from the Companys Realignment Plan as well as the higher revenue per tractor per week in the Companys Dedicated division and the higher revenue miles per tractor in the Companys OTR division, which were captured across a larger fleet size compared to the fourth quarter of 2021. However, as Variant began to achieve significant scale, we found that the team needed to shift their focus from idea generation to execution to ensure that the fleet ran smoothly while maintaining its superior operating metrics. The non-GAAP measures used herein have limitations as analytical tools and should not be considered measures of income generated by our business or discretionary cash available to us to invest in the growth of our business. For the full year 2022, capital expenditures, net of proceeds, were $153.1 million, and exclude equipment financed under operating leases. 4080 Jenkins Rd, Chattanooga, TN 37421 | 866-646-5886 | Press Release Details - U.S. Xpress Enterprises, Inc Founded in 1985, U.S. Xpress Enterprises, Inc. is one of the nation's largest asset-based truckload carriers by revenue. Third Quarter 2022 Highlights compared to Third Quarter 2021 Operating revenue of $547.8 million compared to $491.1 million The increased operating loss was due to the Companys spot market exposure, which combined with weaker overall freight volumes caused the average revenue per mile in the over-the-road (OTR) division to decrease by $0.06 per mile compared to the fourth quarter of 2021. In 2023, we will continue to focus on execution, servicing our customers at a high level and reducing our spot market exposure. Let us know if there is a problem with our content Use this form if you have come across a typo, inaccuracy or would like to send an edit request for the content on this page. Management believes the use of non-GAAP measures assists investors and securities analysts in understanding the ongoing operating performance of our business by allowing more effective comparison between periods. This was below the Companys previous guidance range of $130.0 million to $150.0 million, primarily due to delays in anticipated fourth quarter equipment deliveries. Additional information regarding the Companys operating results is provided below as well as on the Companys investor page at investor.usxpress.com. Capital expenditures, net of proceeds, related primarily to tractors and trailers were $97.0 million for 2021, excluding equipment financed under operating leases. Founded in 1985, the Company utilizes a combination of smart technology, a modern fleet of tractors and a network of highly trained, professional drivers to efficiently move freight for a wide variety of customers. Truckload revenue, excluding fuel surcharge, was $396.8 million, an increase of 5.7%, compared to the fourth quarter of 2021. Excluding the impact of fuel surcharge revenues, fourth quarter revenue increased $58.5 million to $487.3 million, an increase of 13.7% as compared to the fourth quarter of 2020. As we exit the year, our priority is to get back to the basics and service our customers at a high level. U.S. Xpress implements a range of digital initiatives and technology to drive innovation in the industry, streamline the value chain for customers and improve the overall driver experience. New study finds diabetes remains in remission years after gastric You must click the link in the email to activate your subscription. At the end of the third quarter of 2022, the Company had liquidity of $131.1 million (defined as cash balances plus availability under the Companys revolving credit facility), $461.1 million of net debt (defined as long-term debt, including current maturities less cash balances), and $252.2 million of stockholders equity. Novel device holds promise for diagnosing tuberculosis in the 'missing In this press release, such statements may include, but are not limited to, statements in the "Outlook" section, statements regarding the freight environment, expected rates, expected margins, future growth of our digital fleet, digital brokerage, and Dedicated division, expected net capital expenditures, the expected impact of our driver, digital fleet, and other initiatives, and any other statements concerning: any projections of earnings, revenues, cash flows, capital expenditures, compliance with financial covenants, or other financial items; any statement of plans, strategies, or objectives for future operations; any statements regarding future economic or industry conditions or performance; any statements regarding our responses to COVID-19 and the associated economic conditions; and any statements of belief and any statements of assumptions underlying any of the foregoing. Some restrictions may apply. As a reminder, adjusted net loss attributable to controlling interest1 for the fourth quarter of 2021 excluded a non-cash impairment charge in addition to an unrealized loss on a strategic equity investment. Chicago's air quality is worst in the world after Canadian wildfire You should not consider the non-GAAP measures used herein in isolation or as substitutes for analysis of our results as reported under GAAP. Job openings in health care surged above 2 million in April, not far short of last year's record. Press Release Details - U.S. Xpress Enterprises, Inc - Home You can sign up for additional subscriptions at any time. Nurses have had enough, threatening big gaps in US health care The following factors, among others, could cause actual results to differ materially from those in the forward-looking statements: general economic conditions, including inflation and consumer spending; political conditions and regulations, including future changes thereto; changes in tax laws or in their interpretations and changes in tax rates; future insurance premiums and claims experience, including adverse changes in claims experience and loss development factors, or additional changes in management's estimates of liability based upon such experience and development factors that cause our expectations of insurance premiums and claims expense to be inaccurate or otherwise impacts our results; impact of pending or future legal proceedings; future market for used revenue equipment and real estate; future revenue equipment prices and availability; future capital expenditures, including equipment purchasing and leasing plans and equipment turnover (including expected trade-ins); fleet age; future depreciation and amortization; changes in managements estimates of the need for new tractors and trailers; future ability to generate sufficient cash from operations and obtain financing on favorable terms to meet our significant ongoing capital requirements; our ability to maintain compliance with the provisions of our credit agreement; freight environment, including freight demand, rates, capacity, and volumes; future asset utilization; loss of one or more of our major customers; our ability to renew dedicated service offering contracts on the terms and schedule we expect; surplus inventories, recessionary economic cycles, and downturns in customers' business cycles; strikes, work slowdowns, or work stoppages at the Company, customers, ports, or other shipping related facilities; increases or rapid fluctuations in fuel prices, as well as fluctuations in surcharge collection, including, but not limited to, changes in customer fuel surcharge policies and increases in fuel surcharge bases by customers; interest rates, fuel taxes, tolls, and license and registration fees; increases in compensation for and difficulty in attracting and retaining qualified professional drivers and independent contractors; independent contractors we contract could be deemed by regulators or the judicial process to be employees; seasonal factors such as harsh weather conditions that increase operating costs; competition from trucking, rail, intermodal, and brokerage (including digital brokerage) competitors; changes in regulatory requirements that increase costs, decrease efficiency, or reduce the availability of drivers; safety-related evaluations and rankings under the Federal Motor Carrier Safety Administrations Compliance, Safety, Accountability program; increasing attention on environmental, social and governance matters; future safety performance; our ability to reduce, or control increases in, operating costs; future third-party service provider relationships and availability; execution of the Companys current business strategy or changes in the Companys business strategy; the ability of the Companys infrastructure to support future organic or inorganic growth; our ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; our ability to adapt to changing market conditions and technologies, including the future use of autonomous tractors; disruptions to our information technology; the cost of and our ability to effectively and efficiently implement technology initiatives; costs, diversion of managements attention, and potential payments made in connection with the multiple class action lawsuits a stockholder derivative lawsuit arising out of our IPO; credit, reputational and relationship risks of certain of our current and former equity investments; the dual class structure of our common stock has the effect of concentrating voting control with certain members of the Fuller and Quinn families, which limits or precludes the ability of other stockholders to influence corporate matters; our ability to maintain effective internal controls without material weaknesses; and the impact of the coronavirus outbreak or other similar outbreaks. Readers should review and consider these factors along with the various disclosures by the Company in its press releases, stockholder reports, and filings with the Securities and Exchange Commission. Readers should review and consider these factors along with the various disclosures by the Company in its press releases, stockholder reports, and filings with the Securities and Exchange Commission. We believe the benefits from these initiatives combined with our lower fixed cost structure will become apparent as the market turns., Fourth Quarter and Full Year 2022 Financial Performance. U.S. Xpress (NYSE: USX) began breaking out performance statistics for Variant its startup tech-driven truckload company within a legacy truckload company in the fourth quarter of last year. We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information. Total division revenue grew from a combination of this higher revenue per tractor per week combined with a 14.8% increase in average tractors. Net income (loss) attributable to controlling interest, Adjusted net income (loss) attributable to controlling interest, Adjusted earnings (losses) per diluted share, Truckload revenue, excluding fuel surcharge, Truckload Adjusted operating income (loss), GAAP: Net income (loss) attributable to controlling interest, Income (loss) before income taxes attributable to controlling interest, Unrealized loss (gain) on equity investment, Adjusted income (loss) before income taxes, Non-GAAP: Adjusted net income (loss) attributable to controlling interest, GAAP: Earnings (losses) per diluted share, Income tax expense attributable to controlling interest, Non-GAAP: Adjusted earnings (losses) per diluted share attributable to controlling interest, Depreciation and amortization, net of (gain) loss, Basic weighted average shares outstanding, Diluted weighted average shares outstanding, Customer receivables, net of allowance of $990 and $11, respectively, Less accumulated depreciation and amortization, Current maturities of long-term debt and finance leases, Long-term debt and finance leases, net of current maturities, Total liabilities and stockholders' equity. Matt Garvie You must click the link in the email to activate your subscription. Revenue, excluding fuel surcharge increased $25.6 million to $477.4 million, an increase of 5.7% compared to the third quarter of 2021. Today, CISA, the Federal Bureau of Investigation (FBI), the Multi-State Information Sharing and Analysis Center (MS-ISAC), and international partners released Understanding Ransomware Threat Actors: LockBit, a joint Cybersecurity Advisory (CSA) to help organizations understand and defend against threat actors using . Copyright 2022 U.S. Xpress, Inc. All right reserved, U.S. Xpress Enterprises Reports Fourth Quarter 2021 Results, https://www.businesswire.com/news/home/20220209005671/en/. Most of the Companys annual capital expenditures relate to tractors and trailers, for which the Company generally uses a combination of loan financing agreements and finance lease arrangements to fund these acquisitions. U.S. Xpress named one of "America's Most Trusted Companies" by Newsweek The conference call can be accessed live over the by phone dialing 1-877-423-9813 or, for international callers, 1-201-689-8573 and requesting to be joined to the U.S. Xpress Fourth Quarter 2021 Earnings Conference Call. SAN FRANCISCO and CHATTANOOGA, Tenn., May 06, 2022 (GLOBE NEWSWIRE) -- Embark Trucks, Inc. (Nasdaq: EMBK, "Embark"), a leading developer of autonomous technology for the trucking industry, today. Third quarter 2022 operating expenses included incremental claims expense of $25.7 million compared to the third quarter of 2021, primarily due to recent unexpected and adverse developments in two large claims resulting from accidents which occurred in prior years. Release Date. Nokia hits extended range mmWave 5G speed record in Finland We expect this to result in meaningful increases in OTR contract rates and to a lesser extent in Dedicated, at least in the first half of the year. First Quarter 2022 Highlights Compared to First Quarter 2021 Operating revenue of $517.2 million compared to $450.8 million Operating loss of $0.2 million compared to operating income of $8.0 million Adjusted operating income 1 of $2.8 million compared to $8.0 million Loss . We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information. If you had invested in Us Xpress Enterprises stock at $16.68, your return over the last 4 years would have been . At the end of the fourth quarter 2021, the Company had $188.9 million of liquidity (defined as cash plus availability under the Companys revolving credit facility), $369.8 million of net debt (defined as long-term debt, including current maturities, less cash balances), and $276.6 million of total stockholders' equity. Four key insights include: This press release features multimedia. Meet Variant, the digital fleet transforming U.S. Xpress Investor Contact Net loss attributable to controlling interest for the fourth quarter of 2021 was $5.3 million, or $0.10 per diluted share, compared to net income attributable to controlling interest of $7.6 million, or $0.15 per diluted share, in the fourth quarter of 2020. Consumer spending, manufacturing challenges and government initiatives impact industry U.S. Xpress Enterprises, Inc. (NYSE: USX) today released its Q2 2021 economic forecast, highlighting a variety of trends and updates specific to the trucking industry. Investors Could Be Concerned With U.S. Xpress Enterprises' (NYSE:USX Management compensates for these limitations by relying primarily on GAAP results and using non-GAAP financial measures on a supplemental basis. Chattanooga, Tenn. - Dec. 30, 2021 - U.S. Xpress Enterprises, Inc. (NYSE: USX) today announced significant progress in key metrics gauging its commitment to its communities and team members. To receive notifications via email, enter your email address and select at least one subscription below. More blue states declare themselves sanctuaries for - Medical Xpress After submitting your information, you will receive an email. 4080 Jenkins Rd, Chattanooga, TN 37421 | 866-646-5886 | 423-633-7153 CHATTANOOGA, Tenn.-- (BUSINESS WIRE)-- U.S. Xpress Enterprises, Inc. (NYSE: USX) today announced its plans to release its first quarter 2022 financial results after the market closes on Thursday, May 5, 2022. U.S. Xpress Releases 2021 Economic Forecast In addition to the $28.0 million in annualized costs we have already taken out of the business, we will continue to identify additional cost takeout opportunities, while allocating capital in a disciplined manner targeting projects that we believe will drive the Company forward.. Investor Contact With Us Xpress Enterprises stock trading at $6.08 per share, the total value of Us Xpress Enterprises stock (market capitalization) is $319.66M. In leading the U.S. Xpress Customer . When microorganisms decompose organic material in the soil, they actively release CO2 into the atmosphere. Adjustments to reconcile net income to net cash provided by operating activities: (Gains) losses on sale of property and equipment, Changes in operating assets and liabilities, Accounts payable and other accrued liabilities, Net cash provided by operating activities, Payments for purchases of property and equipment, Proceeds from sales of property and equipment, Payments of long-term debt and finance leases, Net proceeds from issuance of common stock under ESPP, Tax withholding related to net share settlement of restricted stock awards, Payments of long-term consideration for business acquisition, Proceeds from long-term consideration for sale of subsidiary, Net cash provided by (used in) financing activities, Operating revenue of $531.6 million compared to $455.6 million, Operating loss of $5.1 million compared to operating income of $15.1 million, Net loss attributable to controlling interest of $5.3 million, or $0.10 per diluted share compared to net income attributable to controlling interest of $7.6 million, or $0.15 per diluted share, Adjusted net loss attributable to controlling interest. News, Google, AOL and other popular points online and in traditional media. For the full year 2023, the Company expects capital expenditures, net of proceeds to be less than $75.0 million while maintaining the average age of its fleet at less than 2.5 years and to exit 2023 with more liquidity than it had exiting 2022. Mr. Fuller commented, Looking ahead to the fourth quarter, we expect further implementation of our Realignment Plan to yield additional cost savings and we will continue to allocate capital, in a disciplined manner, to projects which we believe will drive the business forward. Management compensates for these limitations by relying primarily on GAAP results and using non-GAAP financial measures on a supplemental basis. View selections from our photo stream. Chattanooga, Tenn. (Nov. 14, 2022) U.S. Xpress (NYSE: USX) has once again been recognized as a top employer for military veterans and earned the 2023 Military Friendly Employer and Chattanooga, Tenn. (Oct. 24, 2022) U.S. Xpress (NYSE: USX) was honored this weekend by the American Trucking Associations (ATA) for its equitable policies and initiatives in Chattanooga, Tenn. (Aug. 23, 2022) U.S. Xpress (NYSE: USX) today announced a partnership with Hamilton County Schools Future Ready Supply Chain Program.

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