U.S. Xpress Enterprises, Inc. (USX) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET

Company Participants

Matt Garvie – Vice President of Investor Relations

Eric Fuller – President and Chief Executive Officer

Eric Peterson – Chief Financial Officer

Conference Call Participants

Scott Group – Wolfe Research

Brian Ossenbeck – JPMorgan

Christyne McGarvey – Morgan Stanley

Adam Roszkowski – Bank of America

Operator

Good afternoon, ladies and gentlemen. Welcome to the U.S. Xpress First Quarter 2020 Earnings Conference Call. During today’s presentation, all parties will be in listen-only mode. Following the presentation, the conference will be open for questions and instructions will follow at that time. As a reminder, this conference is being recorded.

I would now like to turn the call over to Matt Garvie, Vice President of Investor Relations. Please go ahead, sir.

Matt Garvie

Thank you, operator, and good afternoon, everyone. Welcome to the U.S. Xpress first Quarter 2022 earnings conference call. Eric Fuller, U.S. Xpress’s President and CEO, will lead our call today, followed by Eric Peterson, our CFO, who will discuss our financial results.

Our discussion today includes forecasts and other information that are considered forward-looking statements. While these statements reflect our current outlook, they are subject to a number of risks and uncertainties that can cause actual results to differ materially. These risk factors are described in U.S. Xpress’ most recent 10-K filed with the SEC and in the Form 10-Q for the quarter ended March 31, 2022, that is expected to be filed with the SEC in the next several days. We undertake no duty or obligation to update our forward-looking statements.

During today’s call, we will discuss certain non-GAAP measures, which we believe can be helpful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with U.S. GAAP. A reconciliation of these non-GAAP measures to the most comparable GAAP measure can be found in our earnings release.

As a reminder, a replay of this call will be available on the Investors section of our website. We have also posted an updated supplemental presentation to accompany today’s discussion also available on our website at investor.usxpress.com. We will be referencing portions of this supplement as part of today’s call.

And with that, I would like to turn the call over to Eric Fuller.

Eric Fuller

Thank you, Matt, and good afternoon, everyone. Today, I would like to provide an update on the sequential improvement we saw in Variant in the first quarter, highlight key achievements in the quarter from our other business segments and following Eric Peters’ discussion of our financial results, provide our market outlook for the remainder of 2022.