Derek. you, Thank
$XX.X revenues operating X. XX% was operating Slide respectively.
Adjusted $X.XX basis $XXX prior and was X% and versus EPS of on points, continue Let's decrease or Fourth million, quarter million, $X.XX. was of margin totaled adjusted XXX year.
Adjusted down down X.X%, a income
change noted, equipment larger gains, Derek The period lower Logistics. the dollar on of $X.XX claims. unfavorable costs interest during this a higher a and As from operating margin from increased used expense, development prior lower quarter in headwind softer stems includes due to remainder market insurance the and
claims. net versus was quarter XX% X% operating to was fuel of TTS Turning Adjusted income of of to revenue fourth claims of Transportation X.X%. X referenced prior X%. decrease that throughout the insurance to Services the extended and Truckload operating was quarters, million. if operating adjusted Revenues intentional which Slide million, $XXX points fuel $XXX for the income steps for points, have the in declined XXX margins XXX margin streak fuel XX. total year, year. sequentially of would million, surcharges insurance down net last impact higher A due was improved not lower adjusted basis TTS net $XX.X of over been the taken and higher to basis quarter earlier.
Due and
gains year.
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margins on operating returning blocks TTS higher in unchanged. over remain the first, and building improvement rate One-Way. double-digit We gap time, bridge producing They operating are margins.
The to to focused include
and we volume. as growth higher to for a incremental contribution at margin, fleets dedicated return existing Second, normalized
initiatives. and cost-saving structural normalization the And through equipment Third, in technology used fourth, market. our improvements
rate be to year-over-year new intentionality TTS One-Way to influence of forward.
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competitive than needs immediate and volume market. that real bids, rather an normalization. customers are widespread still While seen materialize simply select engaging can capacity pricing We've more pop-up in the early seeking more on increase into
fuel trucks revenue last year-over-year grew TTS quarter. the XX% average of X,XXX X.X% high conditions better or Let's year-over-year. to year, X were average and average TTS of TTS prior X% fuel X.X%, continued, Dedicated per at turn last XX trucks business consistent down versus represented to of quarter declined After truck, down One-Way the in fourth fourth TTS per increased increased during end, XX fuel Dedicated ended increased review year-over-year but X,XXX trucking trucks week X%. million, trucks, was year year-over-year. X% our with expected of our At trucks, revenues net decrease of the was a year-over-year net quarters.
Within fewer Average to prior fleet per quarter, net X.X% X.X%. year-over-year.
One-Way Total freight during a of for by $XXX prior trucking a Dedicated the miles miles million, XX revenue revenue decrease of quarters gains by truck than week outpaced decreased TTS ago. revenue X,XXX growing single-digit of to TTS per increased X.X% XX sequentially for X% but represented the of Slide X.X% trend year. XX% X% in per multiple was to year-over-year. Dedicated X% quarter up week has year. fleet. the the trucks. with quarter the quarter, for a of truck Revenue the truck quarters.
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to combined grow. continues year-over-year. decline the Truckload Our within PowerLink offset of Logistics PowerLink than offering ultimately miles One-Way miles, the miles were in in down resulting Increased that less majority X% in
fleet ability growth for with and unique. market our provides ROI is a produce scale with combination reach, to volume of smaller production more rates, As plus and One-Way PowerLink a translates to similar carrier gains better miles In of our customers. improved a tighter the optionality
Logistics of Logistics Slide In was Logistics X% were declined turning Revenues Now revenue total year-over-year and Truckload million, on down to X% X%. X% quarter fourth grew fourth quarter, but $XXX XX. the revenues. sequentially.
Revenue representing XX% shipments decreased in
X% up year-over-year mile shipments, increased sequentially the sequentially. Intermodal approximately increased and XX% revenue, by volumes year-over-year due were to partially X% offset generally Logistics which make XX% revenues, customer shipments shipment. in XX% decrease However, X% base from XX% per more existing as steady. a Final revenue revenues decreased of
quarter, by for basis the operating cost of fourth the quarter points headcount of While best was basis sequentially, actions but top XX driven our control Logistics, adjusted year year-over-year up including during and was bottom-line XX down reductions. performance further margin X.X% points
our XX savings gains. majority offset In as cost over to inflationary $XXX to which discuss of savings and savings million low and achieved XXXX, XXXX the the of Moving to sustainable. in-year our an with pressures period, we equipment structural in takeouts netted were total This program. $XX combined cost to X-year million Slide close and rate over
the and on program are XXXX run are, $XX Approximately initiatives from is get actioned savings. We rate in full-year we of million in-year that a structural new remainder carryover to that incremental largely totaling XXXX a on for program focused last XXXX to The is initiatives year. again, sustainable. XX% laser XXXX
cash Slide with and million year. equivalents. million million on $XXX the in the flow year We $XX flow ended cash Operating in for cash $XX our cash quarter and was the review Let's full XX.
over CapEx modern Fourth continues million, we X% down and was than As strategically. year $XXX expected, to maintain XX%. revenue for fleet of yet quarter or was $XX net CapEx year.
Net to year down, reinvest trend prior was a million compared continue and CapEx less million, full to XX% the $XXX
a revenue.
Total of liquidity was on availability million, quarter $XX $XX up year free of and including million, our As points the was X% cash a result, full and XX%, cash $XXX as revolver. or up flow revenues, or basis for XXX percent at million, total end
entered million X% or debt, quarter sequentially, year Moving than $XX million with up to Slide XX. debt We $XX a $XXX X% million, down and earlier. in from increased the Net less year-over-year.
structure.
On allocation. leverage, and sheet, near-term our our We access to relative relatively capital, capital a Slide recap continue priorities maturities have balance to in strong strategic no low debt XX, let's to
to prioritize business continue the being strategic the funding long-term shareholders, reinvestment to while also reducing We over debt, in balanced M&A. between returning capital and
million technology, $XXX repurchase. share through year, reinvested to million in returned $XX full dividend, and used fleet, our network, quarterly the was our equipment sales. was $XX million For school was and terminals, of shareholders towards deployed net
have million remaining under We Board-approved X.X our shares authorization.
since a our acquisitions and despite it's While X years our last been showing challenging are value. acquisition, market,
us and the recognized shippers.
In another Trucking, our in Year U.S. a matters company are choice forward Werner and seeking and in what in first as the during which customers. other Dedicated. pharmaceutical better and carryover guidance. earned as our II enables get we we've TAPA just elite to more Mile, few chain allow certified upside in for highly we GDP. states customers from practice, market.
On XX, a to experienced or we value secure a for transportation professional year a the with to ECM and continue as where critical XXXX, shippers specifically Northeast, for products, a customers.
Baylor good X in is vertical high we certification, standards capability with distribution density new one legacy and certification are Northeast better These recently fleets acquisition, result, greater our from are look longstanding seeing have of loads of is carriers These award for final with Carrier Final were there of our certifications to the capabilities examples mile.
GDP taller Baylor participate we and selective to supply a These example, to nearly For accolades Slide With XXXX stand we international marks Werner. introducing truckload acquisitions, of drivers the that meets moved XX,XXX ECM, storing serve transporting
is guidance range to the more second weighted year fleet X%, up a truck with X% for Our of full to half.
lower CapEx and is year guidance historical evolves asset million, ranges portfolio light. Our full net $XXX range than $XXX as between our be more to
mile extending remains to all to Our range the year the focus.
Dedicated X% capabilities, full track year Truckload record of reinvesting guidance X%. is our consistency maintaining half of in solutions positive shows revenue first flat modern fleet, per low and which positive total is per per truck mile business, in guidance revenue X%. and the One-Way a for week
Our the quarter, items. and for return year XX%. in X% full effective adjustments tax net the The tax of rate discrete provision fourth was other to rate effective XXXX was
XXXX guidance age end to Our and truck average the range years at end was respectively, X.X X.X compared fleet and of trailer XX%.
The X.X years XX% is years, years of between and our X.X year and XXXX. at
Regarding several then half. be in anticipate half. will the year-to-year, moderate by pricing second XXXX, used but higher modeling in of this through equipment first half, first improvement expect net then half back stable similar in demand a we and year interest We amount assumptions, expense flat lower
to tractors expect trailers the and We fewer sell during year.
business less while year-over-year sale in are range to of the equipment interest at in on freight stronger equipment, the day. [ on lower and expense, expected of conditions than volume expected to to be gains we expect gains ].
Relative million quarter, gains, point from million estate the and quarter, $X headwinds real $XX market Excluding used is a one first this used
year.
With back market turn positive to quarter to that, have the As it I'll the impact of to Derek. later compared bottom-line our in a first a result, will the less in momentum encouraging
