USA Truck

How Kodiak Robotics avoided FOMO in staying private

The meltdown of transportation SPAC valuations is unrelenting. Here’s the story of one thriving autonomous trucking developer that stayed out of the rush-to-go-public frenzy.

Kodiak Robotics’ peace of being private

One autonomous trucking developer ignored the FOMO (fear of missing out) on the SPAC frenzy of 2020 and 2021. With valuations cratering for most companies that went public via special purpose acquisition companies, Kodiak Robotics is looking pretty smart. 

It is hiring strategically...

https://www.freightwaves.com/news/how-kodiak-robotics-avoided-fomo-in-staying-private

Former USA Truck CEO takes COO role at Kodiak Robotics

MOUNTAIN VIEW, California — Some cajoling before a let’s-make-a-deal barbecue dinner in Fort Smith, Arkansas, persuaded James Reed to take his technical credentials — unparalleled among trucking company chief executives — back to Silicon Valley.

Reed led a turnaround as CEO of USA Truck for six years before its sale to German logistics giant D.B. Schenker in September. He is trucking’s first C-suite executive to take a leading role at an autonomous trucking startup, joining Kodiak Robotics as...

https://www.freightwaves.com/news/former-usa-truck-ceo-takes-coo-role-at-kodiak-robotics

Done deal: USA Truck now part of DB Schenker

USA Truck tractor-trailer on highway

Arkansas-based truckload carrier USA Truck announced Thursday the completion of its sale to German 3PL DB Schenker. The transaction was settled at $31.72 per share, a 118% premium to the carrier’s share price ahead of the June deal announcement.

A deal price of approximately $435 million included consideration of $290 million paid by DB Schenker in addition to the assumption of USA Truck’s (NASDAQ: USAK) cash and debt. The enterprise value implies the transaction was executed at roughly 5x...

https://www.freightwaves.com/news/done-deal-usa-truck-now-part-of-db-schenker

El 3PL alemán DB Schenker compra USA Truck por 435 millones de dólares 

A white USA Truck tractor trailer

DB Schenker, el tercer mayor proveedor de logística en el mundo por ingresos y una división de la compañía nacional de ferrocarriles de Alemania, ha acordado adquirir el transportador de carga de camiones USA Truck en una transacción de todas las acciones, ya que busca acelerar su penetración en el mercado nacional de Estados Unidos, las empresas anunciaron el viernes. 

El gigante de la cadena de suministro internacional dijo que pagará 31,72 dólares por acción en efectivo por todas las acciones...

https://www.freightwaves.com/news/el-3pl-aleman-db-schenker-compra-usa-truck-por-435-millones-de-dolares

German 3PL DB Schenker buying USA Truck for $435 million

A white truck, with USA Truck brand on the side, rolls down the highway.

DB Schenker, the third-largest logistics provider in the world by revenue and a division of the national railway company of Germany, has agreed to acquire truckload carrier USA Truck in an all-stock transaction as it seeks to accelerate its penetration of the U.S. domestic market, the companies announced Friday.

The international supply chain manager said it will pay $31.72 per share in cash for all of USA Truck’s (NASDAQ: USAK) common stock. The transaction values USA Truck at about $435...

https://www.freightwaves.com/news/german-3pl-db-schenker-buying-usa-truck-for-435-million

USA Truck sees sustained growth amid uncertain market forces

USA Truck Inc. posted its seventh consecutive quarter of record earnings Thursday and expects 2022 to be another record year, said James Reed, president and CEO.

The truckload carrier posted adjusted earnings per share of $1.48 during the first quarter, beating analysts’ estimate of 76 cents per share.

Total revenue in the quarter was $201.1 million, above the $158.5 million in the same year-ago quarter and higher than the consensus estimate of $185.6 million.

“Our performance year to date is far...

https://www.freightwaves.com/news/usa-truck-sees-sustained-growth

USA Truck reports record 1st-quarter revenue, EPS

USA Truck Inc. reported first-quarter 2022 adjusted earnings per share of $1.48 Thursday after the market closed, a 244% year-over-year increase compared to the same period in 2021.

Revenue excluding fuel surcharges was 27% higher year-over-year in the period at $201.1 million.

Company officials said USA Truck produced the best first-quarter earnings per share in the company’s 29-year history and the seventh consecutive quarter of record earnings. 

“Segment results continue to reflect improved...

https://www.freightwaves.com/news/usa-truck-reports-first-quarter-results

Enterprise Fleet recap: Fix the culture, make the profits

This keynote recap is from FreightWaves’ Enterprise Fleet Summit.

KEYNOTE TOPIC: USA Truck’s culture shift to profitability.

SPEAKER: James Reed, CEO of USA Truck.

BIO: Reed joined USA Truck in 2016. Prior to that, the company had four CEOs in five years. Reed previously was CFO of Interstate Distributor Co., an asset-based trucking company, as well as president of its subsidiary, Interstate Distributor Logistics. He has more than 15 years experience as a financial leader for public companies. 

KEY...

https://www.freightwaves.com/news/enterprise-fleet-recap-fix-the-culture-make-the-profits

USA Truck expects revenue to grow 40% by 2024 to $1B

USA Truck plans to grow top-line revenue to $1 billion and earnings per share by up to $4.50 by the end of 2024, the company said on a call with analysts Friday.

“As we consider this strategic plan in the context of recent results, we expect to see corresponding value creation for shareholders,” James Reed, president and CEO, said during an earnings call. “In our opinion, USA Truck remains one of the best stories in this space.”

Van Buren, Arkansas-based USA Truck (NASDAQ: USAK) reported adjusted...

https://www.freightwaves.com/news/usa-truck-expects-revenue-to-grow-40-by-2024

USA Truck reports record Q4 and full-year 2021 results

USA Truck Inc. rode a robust freight and pricing market to revenue of $200.9 million and earnings per share of $1.38 during the fourth quarter, 60 cents better than the consensus estimate and 100% higher year-over-year.

It was the sixth consecutive quarter of record adjusted earnings per share, said President and CEO James Reed.

“The fourth quarter and full-year 2021 represent our highest total revenue and adjusted earnings per share in the company’s history,” Reed said in a statement. “During...

https://www.freightwaves.com/news/usa-truck-reports-record-q4-and-full-year-2021-results

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