U.S. Xpress Enterprises, Inc. Announces Disposition of Investment in U.S. - Mexico Operations and Impact on Financial Results
U.S. Xpress Enterprises, Inc. Class A (USX)
Last u.s. xpress enterprises, inc. class a earnings: 4/30 06:25 am
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Source: Business Wire
After Full Implementation the Transaction is Expected to Improve Operating Income by Approximately $10 Million Annually CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- U.S. Xpress Enterprises, Inc. (NYSE:USX) (the “Company”) today announced its plan to exit its U.S. - Mexico cross border investment as part of its ongoing capital allocation and profit improvement initiatives. When fully implemented, the plan is expected to reduce current and planned invested capital by approximately $40.0 million, improve the Company's consolidated operating margin, and offer customers continued access to cross border service through a variable cost alternative. In connection with this plan, as well as the disposition of its remaining 10% equity investment in a former subsidiary, the Company expects to record an approximate $12.3 million non-cash, pre-tax loss on equity investments for the fourth quarter of 2018. These changes m
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