Company profile

Ticker
USX
Exchange
CEO
William Eric Fuller
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
621378182

USX stock data

(
)

Calendar

5 Aug 20
21 Oct 20
31 Dec 20

News

Quarter (USD) Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Sep 20 Cameron D Ramsdell Class A Common Stock Payment of exercise Dispose F No 9.71 3,612 35.07K 94,103
1 Sep 20 Cameron D Ramsdell Class A Common Stock Option exercise Aquire M No 0 12,000 0 97,715
1 Sep 20 Cameron D Ramsdell RSU Class A Common Stock Option exercise Dispose M No 0 12,000 0 148,000
31 Aug 20 Joel Gard Class A Common Stock Sell Dispose S No 9.5327 2,105 20.07K 30,917
27 Aug 20 Ducker Michael L RSU Class A Common Stock Grant Aquire A No 0 4,451 0 4,451
24 Aug 20 Pate Lisa M Class B Common Stock Sell Dispose S Yes 11.0234 4,989 55K 2,423,914
48.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 71 72 -1.4%
Opened positions 9 15 -40.0%
Closed positions 10 9 +11.1%
Increased positions 23 29 -20.7%
Reduced positions 26 18 +44.4%
13F shares
Current Prev Q Change
Total value 104.12M 80.59M +29.2%
Total shares 16.55M 17.4M -4.9%
Total puts 140.4K 149.2K -5.9%
Total calls 92.6K 96.6K -4.1%
Total put/call ratio 1.5 1.5 -1.8%
Largest owners
Shares Value Change
Aristotle Capital Boston 3.83M $22.98M +14.7%
N Price T Rowe Associates 2.09M $12.54M +0.0%
BLK BlackRock 1.68M $10.09M +1.7%
Vanguard 1.09M $6.57M +1.3%
BCS Barclays 901.05K $5.41M -10.2%
BMO Bank of Montreal 666.97K $4.14M -37.9%
THB Asset Management 627.49K $3.76M -26.7%
SEIC SEI Investments 595.55K $3.57M +5.6%
BAC Bank of America 532.69K $3.2M -5.4%
Dimensional Fund Advisors 492.14K $2.95M +43.8%
Largest transactions
Shares Bought/sold Change
Towle & Co 0 -1.12M EXIT
Aristotle Capital Boston 3.83M +492.14K +14.7%
BMO Bank of Montreal 666.97K -407.75K -37.9%
Russell Investments 434.11K +341.87K +370.6%
FMR 280.9K +280.9K NEW
THB Asset Management 627.49K -228.7K -26.7%
Jacobs Levy Equity Management 23.16K -155.31K -87.0%
Dimensional Fund Advisors 492.14K +149.83K +43.8%
BCS Barclays 901.05K -102.28K -10.2%
Formula Growth 0 -94.99K EXIT

Financial report summary

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Risks
  • Increases in driver compensation or difficulties attracting and retaining qualified drivers could materially adversely affect our profitability and ability to maintain or grow our fleet.
  • Our engagement of independent contractors to provide a portion of our capacity exposes us to different risks than we face with our tractors driven by company drivers.
  • If the independent contractors we contract with are deemed by regulators or judicial process to be employees, our business, financial condition and results of operations could be materially adversely affected.
  • We have a history of net losses.
  • We may not be successful in achieving our business strategies.
  • We operate in a highly competitive and fragmented industry, and numerous competitive factors could impair our ability to improve our profitability and materially adversely affect our results of operations.
  • We retain high deductibles on a significant portion of our claims exposure, which could significantly increase the volatility of, and decrease the amount of, our earnings and materially adversely affect our results of operations.
  • If we are required to accrue or pay additional amounts because claims prove to be more severe than our recorded liabilities, our financial condition and results of operations may be materially adversely affected.
  • Insuring risk through our captive insurance companies could materially adversely affect our operations.
  • Increases in collateral requirements that support our insurance program and could materially adversely affect our operations.
  • Our captive insurance companies are subject to substantial government regulation.
  • Increased prices for new revenue equipment, design changes of new engines, future use of autonomous tractors, volatility in the used equipment market, decreased availability of new revenue equipment and the failure of manufacturers to meet their obligations to us could materially adversely affect our business, financial condition, results of operations and profitability.
  • Our profitability may be materially adversely impacted if our capital investments do not match customer demand for invested resources or if there is a decline in the availability of funding sources for these investments.
  • Upgrading our tractors to reduce the average age of our fleet may not increase our profitability or result in cost savings as expected or at all.
  • Difficulty in obtaining materials, equipment, goods and services from our vendors and suppliers could adversely affect our business.
  • We are dependent on systems, networks and other information technology assets (and the data contained therein) and a failure in the foregoing, including those caused by cybersecurity breaches, could cause a significant disruption to our business and we may incur increasing costs in efforts to minimize those risks and comply with regulatory standards.
  • Our existing and future indebtedness could limit our flexibility in operating our business or adversely affect our business and our liquidity position.
  • In the future, we may need to obtain additional financing that may not be available or, if it is available, may result in a reduction in the percentage ownership of our then‑existing stockholders.
  • We are exposed to the credit, reputational and relationship risks of certain of our current and former equity investments.
  • Fluctuations in the price or availability of fuel or surcharge collection may increase our costs of operation, which could materially adversely affect our profitability.
  • We operate in a highly regulated industry, and increased direct and indirect costs of compliance with, or liability for violations of, existing or future regulations could have a material adverse effect on our business.
  • Safety‑related evaluations and rankings under CSA could materially adversely affect our profitability and operations, our ability to maintain or grow our fleet and our customer relationships.
  • Receipt of an unfavorable DOT safety rating could have a material adverse effect on our operations and profitability.
  • We face litigation risks that could have a material adverse effect on the operation of our business.
  • We are a defendant in putative class action lawsuits and a stockholder derivative lawsuit arising out of our IPO and we may be involved in additional litigation in the future. Such lawsuits could result in substantial costs and divert management's attention.
  • Management and key employee turnover or failure to attract and retain qualified management and other key personnel, could materially adversely affect our business, financial condition and results of operations.
  • We have several major customers, and the loss of, or significant reduction of business with, one or more of them could have a material adverse effect on our business, financial condition and results of operations.
  • We depend on third‑party service providers, particularly in our Brokerage segment, and service instability from these providers could increase our operating costs and reduce our ability to offer brokerage services, which could materially adversely affect our revenue, business, financial condition, results of operations and customer relationships.
  • We may not make acquisitions in the future, which could impede growth, or if we do, we may not be successful in integrating any acquired businesses, either of which could have a material adverse effect on our business.
  • We are subject to certain risks arising from our Mexican operations.
  • Changes to trade regulation, quotas, duties or tariffs, caused by the changing U.S. and geopolitical environments or otherwise, may increase our costs and materially adversely affect our business.
  • Our business depends on our reputation and the value of the U.S. Xpress brand, and if we are unable to protect our brand name or proprietary and other intellectual property rights, our competitive position may be harmed.
  • Developments in labor and employment law and any unionizing efforts by employees could have a material adverse effect on our results of operations.
  • Seasonality and the impact of weather and other catastrophic events affect our operations and profitability.
  • Our total assets include goodwill and other intangibles. If we determine that these items have become impaired in the future, net income could be materially adversely affected.
  • Uncertainties in the interpretation and application of the 2017 Tax Cuts and Jobs Act could materially adversely affect our tax obligations and effective tax rate.
  • The price of our Class A common stock may fluctuate significantly.
  • We previously identified four material weaknesses in our internal control over financial reporting. We have concluded that we have remediated three of such material weaknesses. If our remediation of the remaining material weakness is not effective, or if we identify additional material weaknesses in the future or otherwise fail to maintain an effective system of internal controls in the future, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence in us and, as a result, the value of our Class A common stock.
  • If securities or industry analysts do not publish or cease publishing research or reports about us, our business, our market or our competitors, or if they change their recommendations regarding our Class A common stock in a negative way, the price and trading volume of our Class A common stock could decline.
  • The large number of shares eligible for public sale in the future, or the perception of the public that these sales may occur, could depress the market price of our Class A common stock.
  • The dual class structure of our common stock has the effect of concentrating voting control with certain members of the Fuller and Quinn families (or trusts for the benefit of any of them or entities owned by any of them), which limits or precludes the ability of other stockholders to influence corporate matters.
  • We do not currently expect to pay any cash dividends.
  • Provisions in our charter documents or Nevada law may inhibit a takeover, which could limit the price investors might be willing to pay for our Class A common stock.
  • Our Articles of Incorporation designate the Eighth Judicial District Court of Clark County of the State of Nevada as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
Management Discussion
  • We generate revenue from two primary sources: transporting freight for our customers (including related fuel surcharge revenue) and arranging for the transportation of customer freight by third-party carriers. We have two reportable segments: our Truckload segment and our Brokerage segment. Truckload revenue, before fuel surcharge and truckload fuel surcharge are primarily generated through trucking services provided by our two Truckload service offerings (OTR and dedicated contract). Brokerage revenue is primarily generated through brokering freight to third-party carriers.
  • Our total operating revenue is affected by certain factors that relate to, among other things, the general level of economic activity in the United States, customer inventory levels, specific customer demand, the level of capacity in the truckload and brokerage industry, the success of our marketing and sales efforts and the availability of drivers, independent contractors and third-party carriers.
  • For the quarter ended June 30, 2020, our total operating revenue increased by $8.6 million, or 2.1%, compared to the same quarter in 2019, and our revenue, before fuel surcharge increased by $22.8 million, or 6.1%. The primary factors driving the increases in total operating revenue and revenue, before fuel surcharge, were increased volumes in our Truckload and Brokerage segment, offset partially by decreased pricing.
Content analysis ?
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H.S. junior Avg
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