USX - USX STOCK NEWS

U.S. Xpress Enterprises, Inc. (NYSE: USX) reported financial results for Q4 and FY 2022, achieving operating revenue of $2.16 billion, marking a 10.9% increase year-over-year. In Q4 2022, operating revenue was $542.5 million, up 2% from Q4 2021, but the company faced an operating loss of $5.7 million. The Truckload Segment experienced a significant operating loss of $11.9 million, attributed to spot market pressures and rising fuel costs. Despite these challenges, the company realized $8 million in cost savings from its Realignment Plan. Ending 2022, liquidity stood at $106.1 million with a focus on reducing spot market exposure and enhancing profitability in 2023.

U.S. Xpress Enterprises, Inc. (NYSE: USX) plans to release its fourth quarter and full year 2022 financial results after the market closes on February 9, 2023. A conference call and webcast will take place at 5 p.m. ET on the same day to discuss the results. The company, established in 1985, provides over-the-road, dedicated, and brokerage services, using advanced technology and a modern fleet to enhance service efficiency. For more information, visit usxpress.com.

U.S. Xpress Enterprises (NYSE: USX) reported third-quarter 2022 operating revenue of $547.8 million, up from $491.1 million in the same quarter last year. However, the company experienced an operating loss of $22.7 million, compared to an operating income of $6.6 million in Q3 2021. This loss was attributed to a $25.7 million increase in claims expenses and $4.4 million in expenses related to its Realignment Plan. Despite cost-cutting initiatives projected to save $28.0 million annually, net loss for the quarter was $19.8 million, or $0.38 per diluted share.

U.S. Xpress Enterprises (NYSE: USX) will release its Q3 2022 financial results after market close on November 3, 2022. A conference call will follow at 5 p.m. ET to discuss these results, with dial-in options available for both toll-free and international participants. The live webcast and a replay can be accessed on the company's investor website. U.S. Xpress, founded in 1985, provides over-the-road, dedicated, and brokerage services, leveraging modern technology and a skilled driver network.

U.S. Xpress Enterprises (NYSE: USX) announced a new realignment plan to enhance operating profitability, cash flow, and reduce balance sheet leverage. Key highlights include an anticipated annual cost savings of $25.0 million, focusing primarily on Over-the-road (OTR) operations. The plan involves workforce reductions, real estate divestitures, and improved capital management, with expected annualized wage savings of $20.0 million. The company aims to maintain strong liquidity, exceeding $135.0 million as of August 31, 2022, despite rising insurance claims costs projected at $15.0 million for Q3.

U.S. Xpress Enterprises (NYSE: USX) reported Q2 2022 results with operating revenue up to $553.7 million from $475.0 million in Q2 2021. However, operating income decreased to $6.5 million from $8.9 million, and the company faced a net loss of $554,000, or $0.01 per share, compared to a profit of $19.1 million last year. Revenue growth was driven mainly by the Truckload segment, but overall operating expenses surged due to increased fuel and claims costs. The company aims to boost fleet utilization and lower costs in the upcoming quarter.

U.S. Xpress Enterprises, Inc. (NYSE: USX) will release its Q2 2022 financial results after market close on August 3, 2022. The company will host a conference call and webcast to discuss these results at 5 p.m. ET on the same day. The call can be accessed via a toll-free dial-in number or internationally, with a live webcast available on their investor website. This release reflects U.S. Xpress's commitment to transparency and communication with shareholders.