USA Quarterly report

Just read it....on seeking Alpha. His revenue was 103 M vs 118 M a year ago. His net qtrly loss was 3.8 million. His base revenue was down 9.2 % due to a reduced truck count. ( no drivers )

Naturally there's blame to be had like heavy office staff, "expensive tractors" , charges for unsold iron and of course unseated tractors and driver retention. ( hand in hand ) He also took some charges for closing terminals etc. His O/R was 104.5%

On the plus side his revenue per tractor was up to a little over $3000 per week from $2900 something avg in 16 plus FSC but if there is no drivers then.....

He's planning some driver retention moves this year. Might be a place for a rookie to break out and exploit his weakness for drivers. He will probably mind his P's and Q's in the short term while he tries to rebuild his driver staff.

He also plans to try and build his O/O fleet.

My take away: He's learning a hard lesson on just how valuable driver really are. Now whether he learns from this long term or not is another argument. Typical truck management will not. The lesson never sets in and he's back to his old tricks soon enough.

This guy has been bleeding cash for awhile. Hard to believe he still has investors willing to back this play.

JMO