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      U.S. Xpress Enterprises, Inc. (USX) stock is falling to 5.58% – Recent news to know! - Stocks Telegraph

      By Mahrukh Rehan

      Published on

      November 29, 2021

      5:43 AM UTC

      U.S. Xpress Enterprises, Inc. (USX) stock is falling to 5.58% – Recent news to know! - Stocks Telegraph

      U.S. Xpress Enterprises, Inc. (USX) experienced a decline of 5.58% in the aftermarket. However, the last trading session closed at $8.25 with a decline of 4.62%.

      Stephens Annual Investment Conference – Latest Updates

      USX announced on 18th November 2021 that Eric Fuller and Eric Peterson will participate in Stephens Annual Investment Conference at 2:00 p.m. Eastern Time on Thursday, December 2, 2021.

      Q4 2021 Economic Forecast

      On 15th November 2021, USX released the economic forecast that highlights the major trends of the logistics industry. Firstly, consumer spending has been boosted by ample stimulus and unemployment compensation, as well as low loan rates, during the epidemic. The issue is whether consumer spending power and sentiment will stay robust in the coming quarters as unemployment figures continue to fall and stimulus money runs out.

      This Christmas shopping season will reveal the American consumer’s tenacity and the supply networks’ long-term viability. Secondly, by the end of the year, the industry will have lost 100,000 professional truck drivers. Lastly, increase in driver compensation per mile do not seem to be sufficient to attract additional professional truck drivers to the industry.

      What’s Next?

      With more people realizing the ripple effects of foreign shipping delays, the nation’s fragile supply chain has gotten a lot of attention in the last year. As USX comes near the end of this long-term epidemic, it’s critical to acknowledge the nation’s logistics experts.

      Third Quarter 2021 Results by USX – Was it strong a quarter?

      USX announced third quarter 2021 results on 21st October 2021. Operating sales increased by 13.8% and moved to $491.1 million from $431.5 million the previous year. Moreover, variant finished the quarter with 1,283 tractors, a 149 percent increase, and helped the overall tractor count increase consecutively for the first time since the second quarter of 2020.

      Net loss attributable to controlling interest of $5.5 million, versus net income attributable to controlling interest of $10.7 million. Last but not least, the company had an expected loss of $0.18 per diluted share on a strategic investment fund.

      How was USX’s progress?

      The company’s third-quarter results indicate continued success in digitalization, which is preparing USX for long-term sustained profitability. Not only this, but USX effectively increased the total tractor count sequentially and repriced the majority of our specialized portfolio. Lastly, the company is on schedule to have 1,500 tractors in Variant by the end of the year.

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