German logistics services provider DB Schenker is spending $435 million to acquire USA Truck, an Arkansas-based operation with 1,900 trucks, a network of terminals across the Eastern half of the U.S., and a nationwide third-party logistics (3PL) presence.
Essen, Germany-based DB Schenker said it plans to expand USA Truck’s presence in North America, and to offer its existing customer base access to Schenker’s international logistics expertise, air transport services, and ocean gateways. Likewise, the company plans to build on USA Truck’s existing U.S. and Mexico freight network to expand its global logistics services across land, air, and ocean transportation services.
Van Buren, Arkansas-based USA Truck was founded in 1983 as Crawford Produce Inc. with fewer than 10 tractors in operation. It went public in 1992 and has been listed on the NASDAQ stock exchange ever since, growing to its current size of 2,100 employees and partnerships with more than 36,000 active contract carriers.
USA Truck had seen strong financial results in recent months, as hot freight demand and tight market capacity drove high rates for transportation providers. In its most recent earnings report, the company reported its best first quarter earnings per share in company history and its seventh consecutive quarter of record earnings, according to its president and CEO James Reed.
By the numbers, USA Truck reported consolidated operating revenue of $201.1 million for the quarter ended March 31, 2022, compared to $158.5 million for that period last year. Based on that revenue, the company declared net income of $13.1 million, compared to $3.6 million for the same quarter in 2021.
