Company: U.S. Xpress Enterprises, Inc.
Symbol: USX
Description: They are the fifth largest asset-based truckload carrier in the United States by revenue, generating over $1.5 billion in total operating revenue in 2017.
Trade Date: 6/14
Shares: 18.05 million
Price Range: $18.00-$20.00
Underwriter(s): BofA Merrill Lynch, Morgan Stanley, J.P. Morgan, Wells Fargo Securities
Co-Manager(s): Stephens Inc., Stifel, Wolfe Capital Markets
Terms Added: 6-4-18
Business: They are the fifth largest asset-based truckload carrier in the United States by revenue, generating over $1.5 billion in total operating revenue in 2017. They provide services primarily throughout the United States, with a focus in the densely populated and economically diverse eastern half of the United States. They offer customers a broad portfolio of services using their own truckload fleet and third-party carriers through their non-asset-based truck brokerage network. As of March 31, 2018, their fleet consisted of approximately 6,800 tractors and approximately 16,000 trailers, including approximately 1,300 tractors provided by independent contractors.
FINANCIALS: Their total operating revenue was $1.60 billion, $1.73 billion, $1.54 billion, $1.45 billion and $1.56 billion and their net income (loss) was ($28.6 million), ($13.7 million), $4.7 million, ($16.0 million), and ($3.9 million) in 2013, 2014, 2015, 2016, and 2017, respectively. In the first quarter of 2018, their total operating revenue increased 17.1% to $425.7 million, while their net increased from a $4.4 million loss to a $1.4 million gain.
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