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U.S. Xpress (NYSE: USX) first-quarter earnings release and subsequent conference call with analysts gave CEO Eric Fuller an opportunity to start putting some numbers on the impact of its Variant initiative, a truckload carrier inside a truckload carrier.
One number that was not released for Variant: an operating ratio. But for what is believed to be the first time since the tech-driven alternative to U.S. Xpress legacy business was announced last year, a figure on mileage was provided.
Variant s first-quarter utilization was 1,815 average revenue miles per tractor per week, the company said. But utilization if weather-impacted February was stripped out was 1,864 miles. Other unspecified operating metrics held stable, Fuller said on the call Thursday, according to a transcript provided by SeekingAlpha.
Senior Director, Product Management
[Technical Issues] Good morning and welcome to the first quarter 2021 conference call for Old Dominion Freight Line. Today s call is being recorded and will be available for replay beginning today and through April 30, 2021, by dialing 719-457-0820. The replay passcode is 7623805. The replay of the webcast may also be accessed for 30 days at the company s website. This conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements, among others, regarding Old Dominion s expected financial and operating performance. For this purpose, any statements made during this call that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words believes, anticipates, plans, expects, and similar expressions are intended to identify forward-looking statements. You are hereby cautioned that these statements
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