Brief: US Xpress Enterprises Reports Third-Quarter 2019 Results

US Xpress Enterprises

01/11/2019 10:33

Nov 1 (Reuters) - US Xpress Enterprises Inc  USX.N :
    * U.S. XPRESS ENTERPRISES, INC. REPORTS THIRD QUARTER 2019
RESULTS
    * Q3 REVENUE $428.5 MILLION VERSUS REFINITIV IBES ESTIMATE
OF
$430.2 MILLION
    * Q3 LOSS PER SHARE $0.03
    * Q3 EARNINGS PER SHARE ESTIMATE $0.06 -- REFINITIV IBES
DATA
    * QTRLY OPERATING RATIO OF 99.2% COMPARED TO 95.0% IN Q3 OF
2018
    * Q3 WAS MARKED BY CONTINUED INDUSTRY-WIDE OVERCAPACITY OF
TRACTORS IN RELATION TO FREIGHT DEMAND
    * US XPRESS ENTERPRISES - PRICING ENVIRONMENT IN QUARTER WAS
IMPACTED BY UNPRECEDENTED AND UNSUSTAINABLE RATE COMPETITION
FROM DIGITAL FREIGHT BROKERS
    * EXPECT COMPANY'S FULL YEAR ADJUSTED OPERATING RATIO TO
EXCEED
97.5%
    * ADJUSTED OPERATING RATIO FOR FULL YEAR WOULD APPROXIMATE
98.5%
    * US XPRESS ENTERPRISES - ADJUSTED OPERATING RATIO FOR FY
WOULD BE
ABOUT 98.5% IF CURRENT MARKET ENVIRONMENT EXPERIENCED THROUGH
OCT PERSISTS THROUGH YEAR-END

Source text for Eikon:  ID:nBw3ZYFqva 
Further company coverage:  USX.N 

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