USA Truck Reports 3Q Loss; Management Declines Celadon Bid to Meet

Michael G. Malloy/TT

USA Truck reported a third-quarter loss and said its board declined to meet with Celadon Group, which recently bought a small stake in the truckload carrier.

The company lost $4.3 million, or 42 cents per share, compared with net income of $600,000, or 6 cents, a year ago.

Revenue rose 9.6% to $130.1 million, the company said Friday.

USA Truck said in August that it was likely to report a third-quarter loss, in part due to implementation of new enterprise management software.

Celadon last week announced it had bought a 6.3% stake in USA Truck and there had been speculation it might seek to gain more.

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Frozen Food Express Selling Dry Vans, Tractors to Celadon

Frozen Food Express Industries said it will sell more than 400 dry vans and almost 300 tractors to truckload carrier Celadon Trucking Services.

The Dallas-based refrigerated carrier said earlier this month it would restructure its dry van operations and dispose of 435 trailers and reduce its fleet by 290 tractors.

“We will continue to provide dry freight services through use of our refrigerated fleet on lanes that make economic sense for both our customers and our company,” FFE president Russell Stubbs said in a joint statement with counterpart Paul Will, president of Celadon.

“We will continue to aggressively grow in our core business, which is temperature controlled [less-than-truckload] and truckload transportation” operations, Stubbs said.

Celadon Trucking Services is part of Celadon Group, ranked No. 42 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers. Frozen Food Express is ranked No. 57.

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