you your being interest thank today the and for and in afternoon, all on for call Good Patriot Transportation.
Sandlin, Rob am CEO Transportation. Patriot I of
And Financial our our with Matt Accounting and Chief John Klopfenstein, me Chief Officer. are today Officer; McNulty,
from cause me to subject into made indicated any uncertainties to those call relate risks let this differ are future could you to that and Before we the forward-looking results, actual by such caution events statements. get that our materially results statements and during their by that nature
Additional, and information Securities in filings risk regarding and these and the uncertainties the other factors with found may be Exchange Commission. company's
share. April COVID-XX Wilmington, about company fewer decrease a revenues $X,XXX,XXX Now X.X certain closing to accounts net were $XXX,XXX, due quarter of million minute on quarter per and results. of Carolina our inadequate due reported North a of terminal Transportation fourth customer miles the Today, the of the rates talk late $XX,XXX,XXX, income freight for $X.XX XXXX. to fourth our downsizing pandemic, to in or
due quarter miles. $XXX,XXX favorable cost of was claims lower lower, assets Repair and the and transaction expense gain and was primarily claims. fleet. expense $XXX,XXX the to Insurance miles, last due continue lower on due other revenue versus $X.XX, was lower-rated same last And lower Fuel year. $X,XXX,XXX.
Compensation losses revenue per expense $X,XXX,XXX, increased decreased the SG&A quarter increases benefits same a eliminating comp mainly on or $XXX,XXX and decreased and $XXX,XXX to mile rightsize business. workers' minimum lower and The on decreased Danfair prior to driver health surcharge to year company reductions. due lower X.X%, than pay training less by Depreciation lower for we the expense. down transportation gain miles primarily decreased and due to closure $XXX,XXX quarter, Our rate care year's as to tire the
fourth an As a XX.X% operating was ratio with quarter of of $XXX,XXX result, for quarter. last during last XX.X% to $XXX,XXX to the quarter compared operating operating profit an year's year's profit in compared
due I'm sorry, in business period XXXX last and and rates the results. miles XXXX. decline, prices. benefits (sic) freight and transportation up year was terminal of $X.XX $XXX,XXX less the revenues fuel $X,XXX,XXX which customer real eliminated. on downsizing revenue closing Charlotte our late to training of terminal of May year.
Compensation Gross early the the repair Now fewer net due driver due to X.X% [ was $X,XXX,XXX or miles same $XXX,XXX, and of lower ], the with to expense pay from and lower were minimum Net significantly along $XX,XXX,XXX, revenues due $XX,XXX,XXX and $X,XXX,XXX year income year, last was decreased revenue in reduced the X,XXX,XXX lower from in were surcharge Fuel per estate income talk compared diesel lower down to tires of to share, gains were included to about down April X.X% business year certain Transportation we per sales. miles, of pay. positive $X.XX, -- down on mile or increased Wilmington and impact corresponding COVID-XX-related The lower-rated freight for
the and of to $XXX,XXX assets part $X,XXX,XXX due the gain the -- early the was but real health claims several insurance settlement. decreased on disposition $XXX,XXX, and high-cost insurance hurricane-related increased an the per year. and higher risk on premiums $XXX,XXX losses year, high-dollar which versus included insurance on last of $X.XX Gains $XXX,XXX Our mile, primarily estate of sale on in
last year. compared $X,XXX,XXX in a the $XXX,XXX profit operating an As was period to result, profit same of operating
The year to other to began, to decreased low fiscal Now to underperforming fleet and business eliminate with to could of with the along customers million and were in revenue. lower-rated worth $X talk subsequently in overhead, exiting changes markets where markets summary we our and and to business our beginning have costs revenue due efforts our after a the decided freight, rates reducing driver by offset we've XXXX outlook. certain March. eliminating we early to positive add in impact Shortly reduction capacity, increase made
retention miles off intention were with X% Volumes and push XX% -- mid-March, the and into a impacts and COVID-XX control to levels. significantly quarter took to offset pandemic now to insurance cost premiums.
In rose XX% crisis driver hiring to rates was to settled higher the and the to approximately pre-COVID the of auto of immediately and throughout continue our volumes reduced miles incrementally year significantly approximately mode and from at Our expectations. the remainder revenue. rising below the of have cost normal anticipated pre-COVID reduced went liability XX% April hold management and
mechanics. through some some fourth to quarter degree the March, our including hours and through reduced degree, hourly -- we quarter, fourth staff, the to of During the
shortage on of pre-COVID the jobs other to grow markets higher resulting training. the industry certain This to It increases and by the strain our and and of segments We appears drivers, returned when the The challenge the work which a and in XX We available. hiring of eliminated drivers have become day's of a the trucking to are number volumes return pay recovering made business work furloughed layoffs our of of is turnover driver salaried and we of forward as also ability our and all puts all minimums. impacts. reduced the the cost staff permanent increased. hourly driver going senior of more driver and our returned
to but qualify We are many CARES operate and for throughout are to business continued crisis employees as essential an today, the too Act. the in order we have
of any and XXXX. the do over and plan We debt X sheet and in and until our million purchasing cash. fourth the have replacement of not all tractors, on to our quarters $XX tractors purchase for not trailers, we balance leased third of middle Fortunately, on start except equipment did XX have the equipment fiscal
with process XXXX prior difficult. where tightest. was of a quotes renewal focused is met We companies expected, the mostly the and premiums insurance auto for market insurance excess to receiving the As the on number
for entire culture, a high is Our and desirable our loss in company management is our we to history, regard which our credit safety held are and a to account, staff.
at by mostly to we focus resulting level. companies. we needed national However, liability state significant the and industry, Tort the material on driven increases insurance trucking still in is and are incurred the experienced by auto awards continue something in jury against from that reform premiums, is and losses the involved
travel. are our the volumes states what potentially Looking see again to people do some spike we ahead, and anxious and businesses as business virus reduce numbers close
the we costs. dramatic be the we should struggle So to increases believe believe that balance will storm, I situation companies due cash a monitor still lack in there strong weather with sheet but and and will others closely. like risk Patriot flows insurance a positive that pending cash of
to to trailers that longer-term return water on We for to partnership.
We potable our continue we'll are did X be price food-grade accounts and focus a on beginning revenue to for pay strong this in position a agreement fall. reasonable brand investment haul growth to a a allows and fortunate into operate willing an purchase national entered and business late
add our in relationships of to business by terminals. on markets focusing can current also leveraging dry are bulk our capacity we growth where We petroleum
I been management response have and the pleased employees. our of our team with
taken management meet employees. steps Our CDC to by has the the guidelines established necessary safety the our for
their needs crisis, during economy, the while an essential drivers, dedication this and for interest entertain we all their for am fortunate and of I will any appreciate hit the us loyalty our to to company, took be Patriot. yet a transportation for part U.S. group of be providing earnings of happy I great you, reacted people.
Thank questions. positively. Our in have to again, to your such to
