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USA Truck has successfully completed its acquisition by DB Schenker, with each share of common stock converted to $31.72 in cash. Following this transaction, USA Truck’s stock is no longer traded on the NASDAQ Global Select Market. CEO James Reed expressed gratitude to employees and stakeholders for their efforts in enhancing shareholder value.
This acquisition positions DB Schenker to expand its logistics solutions across North America, leveraging USA Truck's capabilities in trucking and logistics services.
USA Truck has been awarded the prestigious 2022 Pro Patria Award by the Arkansas Employer Support of the Guard and Reserve (ESGR), marking the company's third honor in this category. This award recognizes employers for their outstanding support of Guard and Reserve employees. Approximately 20% of USA Truck's workforce are veterans, reflecting the company's commitment to hiring and supporting those who serve. The award ceremony will be attended by key military personnel, underscoring the importance of support for military service members.
DB Schenker will acquire USA Truck for $31.72 per share, valuing the company at approximately $435 million. This move aims to enhance USA Truck's North American presence and utilize DB Schenker's international logistics expertise. Completed by the end of 2022, the merger will make USA Truck a private entity, ceasing its NASDAQ listing. Both companies anticipate significant growth opportunities and enhanced service offerings through this integration.
USA Truck Inc. (NASDAQ:USAK) was named 2022 National Truckload Carrier of the Year by Transplace during their Carrier Symposium held on May 9. The recognition highlights USA Truck's commitment to providing excellent customer service, based on quantitative data and survey feedback. The event focused on logistics industry trends and featured networking opportunities. USA Truck's diverse service offerings include customized truckload, dedicated contract carriage, intermodal, and freight management services, supporting a broad customer base throughout North America.
USA Truck Inc. (NASDAQ:USAK) reported a record first-quarter performance for 2022, with earnings per diluted share soaring 262.5% to $1.45. Consolidated operating revenue rose 26.8% to $201.1 million compared to Q1 2021. The company achieved a net income of $13.1 million, up from $3.6 million in the prior year, marking the seventh consecutive quarter of record earnings. The Trucking segment's operating ratio improved significantly to 87.0%, while USAT Logistics saw a substantial revenue increase of 42.5% to $97.4 million.
USA Truck Inc. (NASDAQ: USAK) will release its Q1 2022 financial results on April 28, 2022, after market close, followed by a conference call on April 29, 2022, at 8:00 a.m. CT. Investors can participate by dialing 1-877-545-0320 for toll-free and 1-973-528-0002 for international access, using access code 625844. A live webcast will be available on their Investor Relations website. The company provides comprehensive capacity solutions across North America, combining trucking and logistics services. More information can be found at usa-truck.com.
USA Truck, Inc. has been recognized by FourKites as part of its Premier Carrier List for Q4 2021. This acknowledgment highlights the company's strong operational visibility and data accuracy in the supply chain sector. The Premier Carrier List showcases top brokers, carriers, and 3PLs worldwide, indicating their excellence in visibility-related operations. Qualifying for this list is crucial as companies increasingly rely on visibility technologies to navigate market disruptions.
USA Truck Inc. (Nasdaq:USAK) has appointed Shauna Jamison as SVP, Chief People Officer, bringing over 20 years of HR experience in transportation. Jamison's expertise includes recruitment and employee engagement, crucial for positioning USA Truck as a destination employer. Previously, she led HR at a Fortune One retailer, enhancing driver experience during the pandemic. Her role aims to empower employees and strengthen organizational culture, driving business outcomes. This leadership addition is seen as a pivotal moment for the company in achieving its strategic goals.
USA Truck Inc. (NASDAQ:USAK) reported significant financial growth for 4Q 2021, with earnings per diluted share rising 104.5% to $1.35, and adjusted earnings per diluted share increasing 100% to $1.38. Consolidated operating revenue grew by 26.4% to $200.9 million for the quarter, with a total of $710.4 million for the year, marking a 28.9% increase. The operating ratio improved to 91.8%, down from 93.9% in 2020. CEO James Reed emphasized a transformation leading to record earnings. The company also secured a $130 million credit facility to enhance borrowing capacity.
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