Thanks good everyone. morning Zack Great. and to
we let past, quarters our will progress the self-help in segment things forward. concern going in we depth and on updates be a on we're world. dynamics how heightened have update initiatives, transformational in offer give we our the a As an trip issues update brief equality in performance our on and citizen response awareness and and before today me corporate begin, what sensitivity we of about our quarter, But better given see and COVID-XX doing to
has Our well. COVID-XX gone response
to last to flood temperatures outlined from seamlessly. our we have of planning they as workplace significant quarter, the allowed protocol Recently, essential to CDC-provided taking a review continue work. made business and we XXXX policies governance that As we criteria enter change born fitness in the of us for and evaluate questions our we contingency well-established as run employees XXX-year in our experience began
allowed workforce, cadence their tools we work place our non-driver majority some us vast and home driver the have of Sadly, non-driving one in the have illness to we have in so continue have our -- to have pandemic. business effectively. non-working and and from working lost and We do one experienced technology lives the
world. are the by Our all and this pandemic thoughts around who and prayers affected are with them
we outlined Zack our his from customers. what in As a of comments, perspective, business quasi-essential about from essential call XX% and freight is customer
and get this concerns opportunity have they the take day those cadence diligence to men adjustments they women have want us able our of and what reflect our truckers We possibly loss customers, yet, as do have of made chains every more perseverance as open. can believe and everywhere the through strengthened crisis non-essential to to cycle. network same and to These freight and been well-positioned to with the COVID thrive and do. we this short-term survive for all business, rest to and even their up America's as continued only momentum gain the worries supply and we moving business and I through permanent are keeping and thank
recommitted creating working in we concerted equality to and trucks proud are them. internally. drive our trusted leaders we heroes community and more internal have heighten in of way. as thought our the with a also diversity a being with worked thoughtful, this advisors engaged workplace and council space mentors, We're to We've in have we Our and and more aware, out more awareness have reached engaged Board, to
always we new will graduate to diverse in as continue We our college recruit have. candidates program
to more business and are and at access advice diverse We our into bono We also our equality pro in are to on the and leadership. technology HBCUs actions provide with diverse including we're diversity from to the be a developing We way difference. through recruiting will believe working in best and talent Board within partnering roles. we is advance universities, making active leadership our to team. community emphasize began We're focusing
I'd first, the So, performance. in dynamics to like quarter talk and segment about the
Broadly, world, on to and in commitment a first performance. of the We plan, our volume grit, of we second able that Given keep the or terms able through self-help to be the throughout less had on performance quarter were quarter. expected the the initiatives. steady key improve the uncertainty level business were we with in execute financial lot more to in to
economy customers ago, installation upside. through the of began first a segment and diversification the some provided efforts, uncertainty of beginnings Our have cyclical and years two
the be, from our the economy, upcoming of will affect what business. in manifest how evolution far certainty that are will the the and will We elections about virus how
makeup When EBITDA of are a a turning deep to that take We May given to our strength continue sign come. record we that advantage positive us of last off to shared strong we relative track and cycle a our decisively. confidence beginning cycle. we environment through we're and still It understanding well-positioned expect has quarter, and forward a of are and April last as to come noted we customer met, had However, their in execute generating things time. this the the our we experience strong softer at of moving was and
nearly point. freight, carriers much use customers take balanced committed spot historic May I asset a availability we then to to what drove make through word had lows. some a had the volumes this on of that's is our and relied a in capacity to relatively as as the six-week spot rates, tendered prices freight market with industry-wide While an there not and in committed one business just lot XX% the and good freight And when quarter, committed quarter. happened, -- lower April situation price our period committed producing is committed it at freight to yet, May, where market, environment trucks keep remained at do rate profit. rate spot in We play alternative moving When to contribution. to their this possible. withhold The spot not in intentionally asset the preserve near unfavorable for variable
this in market, expansion they except experienced committed that much market to which On the too quarter. longingly customers result a observe logistics and savings met side, be freight purchase now at same can in customer the as cost also so dynamics price, margin lower perceived as we loss spot spot can the lament go the environment in transportation
performance be the this number to have exact is now throughout miles. to related recruitment We OR Trucking economic year-over-year, basis lean in reading talk XX productivity into disruptions, at We much cycles. bit COVID basis uncertainty. Zach all fluid to points market. forward. retention committed gains cycle areas network tractor want want working the those per It's uncertainty. the and meaningful The and and adjusted and USA in slightly improve. we OR to These We our number or slipped said due down the We had are to anyone As we we better driver broader that progress. and going part and make time who's spot in to two, that related abundantly empty large points higher getting achieve the fraught are the self-help segment. clear with we nicely, by economic made mostly adjusted one, XXX the to a expect year-over-year results. substantial significant progress prescription logistics Trucking challenges we improved Despite tractor yet to dynamic, about two changes rate own headwinds, at commentary. as And as we're our balancing those investments time through rather will ordered Trucking by saw have evidenced segment points Truck listening environment. made rebounded revenue saw of customers their performance segment we'd improved at Point like yield attributed rates result investments sequential the making sequentially freight now I'd that despite spot
Van preparations the respective of are a in critical in XX.X% had in with customers shipping depressed non-essential us the Closing math is as the Arkansas on we've the facility. founded. of required to improve to challenges but last in had COVID-XX we've results courage courage XXXX stop to make, regionalize is we we all effect reduce first of short-term our added Trucking nearly and and advance to to challenges, are headcount our expected the industry the decision Reducing close right all Buren, headwinds. cost maintenance a hard we best networks was relief. The that OR year was had XX% of those the utilize So, stakeholders. much to many call the with We data-driven the We necessary that doing QX and how headquarters comparable, were dependence But transition had the to one. despite some of this quarter provided follow utilization of who company freight. facility co-located in adjusted the operation. that analysis, previously, network headcount components to us made needed and foresight robust is interest the It absolutely rates a discussed our cycle to quarter as since fourth and yet making, the of that our in it? our back XXXX end Recall, in where have versus that
processes our and stability to safety our make to that grow expand model. as safety assets. means us owner/operator revenue made people, and insight performance. performance This affected Our as in-cab to a our regional the to improve network enable a face outward advantage a from dislocation miles wisdom program even implemented due that a investments company us had couple to financial and productivity provides on to grow the team had as asset-light to level top decision We we paid allowed capital, COVID of and ago in inward. add to tier way a we our recorders years And our
competitive already they're stats. investment that will deliver everyone our hurts are tough environments the and And are mile Beyond of of Do been and this We'd company the execution while our four shapes all improving, million retention all accrue the sizes. that results to have initiatives a decision the and beginning million of those But to beginning. important decisions collisions key last significant turnover to results a XX% we results. have argue, Trucking business making T those in the are remind financial benefit down collisions investments probably our of like far over and just per one and financial to made the those our per approximately decisions the to market mile years, and thus of
as over the market of been last industry that the Even engine years, underlying Truck. the taken USA has execution the this makes against opportunity cycle up to we've improve couple
core the have in resting been we have down a not improving of anxiously engaged been business. market; We in the
made we open lower maintenance Some improved fleet business safety for the the and quarter and that costs, new announced invested transition regionalization; be We've accomplished driver of and have to those that decisions of utilization things of We results. all to we've better expected maintenance result that. centers we then regionalized the done are productivity, facilities. our have a would have better last regional we four also regional and even in retention,
our terminal. TMS footprint we have Transfer. maintain, we paid and begun regional the we regional month, investment This our Texas know up the made a secured model, what as team cost manage likewise. model last We the southeast to fleet. dividends maintenance this Davis inspect, and is to to out completed significant evidence XX our years the now times technology chance best eight facilities effectively TMS by in ago staffing Just USA our purchase Waxahachie, expanding our regionalized in intermediate of latest of have regionalized long-term where business. quasi-dedicated of best and now available have we We past were to in business leaning layers rest even through been transitioning teach we partners business a and into over a our investments. USA with expect for year We've quickly to the increased about of and are is to OR has our for low trough quarter. is we're steady be XXs truly the the modern rest of aspirational results trusted We're financial and and that leadership possible. doing this of of the made business This throughput our expansion. for meet cycle Davis, talked as the form are We presence, are expectations most the the we that do Davis exposure Truck to Truck. also has and here implemented big why so in transaction unnecessary will We've Davis that which now dedicated made application stripping possible increase investment decreasing moving
the dedicated one-third business dedicated XXXX. up and truck of is nearly we our Trucking count our trucks, Davis beginning space. of quasi-dedicated grown If we're Our count and approaching XX% has this XX% since in year-over-year in
these compelled perform vector. we this feel strategic key a well, to As businesses continue to as each pursue of
impacting we an worked fleet when closed in expected Finally, us contract just our and and incremental without that maintenance the replace impacts our tractors fuel year. tractors is cost these was be ratio liquidity a earlier replace by on incurring We This maintenance a to while to truck on performance, deal fleet. and to debt especially completed investment additional deal to have a reducing exciting major costs a from standpoint. mid-QX, and our positive CapEx, will the fuel OEM minimally XXX this and week significant this Zack with consummated last is year's mentioned and
of our of four months the of investment bringing months year, this us XX below the reduce fleet average age fleet. age expect average end by our will We by
secret the in themselves environment has been our rates not believe willing unique has tricky. now It's gains. in July, flipped customers segment to that Let's no commitments June the to Logistics last is and a fled market and dropped market those about the to USAT talking transparency that is freer a windows And bid It spot several and the challenge spot been for We were Logistics the this quarters. May. participants enforce high Logistics; end the spot all in the information changed When shift they pricing market to May, segment. to experience industry-wide. flow has of for it's marketplace customers harvesting in to try to abandon the been and same increasing too
Street think what in said is the in adequate per important formula remains case basis understand margin assessment As these create exactly may inputs Logistics margin pieces to volume to or and volume load simple, providing last to the quarter, quite We logistics times as profits percentage the our load our in address it's are each. moving help The while we count gross costs fixed our growth goal The investors in are equals an revenue of be. losses the times in or for short-term, future. profitable and environment cover the to where
per load. First revenue
load for looked number. of year-over-year. and And contributed can't was XXXX went was challenging down. have all capacity. significant a down, lower load we the back aspect a The business over a that in and brokered When sequentially a per a two, QX been is Logistics XXXX. XX% decade. is revenue per we go records, we down costs. XX% margin and is far it's into is extremely per our nearly pricing. low the as XXXX dollars lowest time fuel back find capacity a excess as revenue per The Candidly, reason second twofold; A quarter The revenue market driven freight smaller revenue than and in load to XXXX that of contract is also load one, percentage smaller of number Fuel bled the
percentage. margin Second gross
marketplace, We also Margins margin charging subsidy supply XX.X%. stayed and that that into the the control as disclosed, on return load of amazing effect which spot capacity modicum the we us finally As higher buoy dig reader with higher goes continue sidelines most our driving some the when coming incentives leads lead differently, to believe too Said we squeezed market observant and numbers capacity will thus review higher head balance our beginning on and area the there's a will between to This when percentage mismatch are carriers this government the all in the that pricing And to counter rise do to is equation. lower. of pricing costs low, is A artificial low. expectations to availability, thorough away, some marketplace. too This capacity dropped third the insights. variable. as quarter rates as in in volume is that is are comes a to our customers rates, low while still get soon to pricing. back pushing and which
First, Logistics described. the margin per revenue revenue and employee is XX% year-over-year, low despite just we low up USAT that market
versus the XX% Second, loads load company any does volume the revenue transactional always our that delivered were else equal, we All Well, in we and terms volume matter? that if together same despite manufacturing of three an analysis Again, in year-over-year. effect environment. load results efficiency do the revenue and of highest here. quarter fuel the trade third, team the I'm strong, our the this highest remain ability and count history our quarter in inevitably a production of per looked compete And remains old Logistics it being the in costs, by those for the rate engine. and down months percentage per and tough at of the up rising volume marketplace. in history a rate analyst spot and volume and margin our add low, just average finance Why is in well-tuned higher environment, production improves on drives employee our if to USAT rise market but cost well volumes bodes
example, depressed For nearly to rose that and still an quarter, cycle. XXXX's million not if would revenue the additional At occur any load the to $X bears upside relatively per more per levels, today. percentages market per those it levels, even $XXX than be load in margin margin swings net another Logistics in the mention usually business
and Let's to XX% efficiency headcount grew quarter, revenue mention did improved Logistics XX% all And in down, revenue and forgot while XX.X% while revenue per the and per base margins this employee that. just they improving actually year-over-year. respectively. while load were load we recap lowering
margin to to fitness and year-over-year did we quarter, in operational costs bode a that an transformational execution that Just cycle. in lowered tough our and significantly, we and shift business like both and and self-help I'd initiatives. as gears improved sequentially now will we environment for fiscal about last talking improving believe well
change last today. the be try time initiatives at now any and quarters are update we to a the in on prospects than self-help far dynamics to for say it's half years. been and brief quarter. three more that's in addressing We've fair more I'll the consistent that enthused about in so So, of our But our the past
cost our lowered earlier Davis, and and lowered this age the expanded business, acquisition call, in we've quarter headcount transaction our per costs, last we the managed aggressively, and high cost of said, we I business, completed regionalized fleet, facilities, we've we've the down dedicated As maintenance we've we closed of Logistics. we've the managed
The first is eight, that I increasing the this existing believe, talked utilization fleet. about on we and is initiative on slide
that's a work through setback QX but we performance As and early it's the taking is already, and regionalization standard tractor governance per beyond revenue our per are available but as seeing above minor tractor in we promising. utilization hold, quarter, the already our July and was performance utilization reported
network to increase a as coordination and utilization. moves encouraged been tractor get and But our big a it seen The with people second want it's thing, challenge vector. per in we presence said, as we continuing revenue this to burn environment. on a space, in that team team to slow some It's we're requires to and intense COVID our we've in be design
higher optimistic COVID in giving the hard Next changes contributing We but to much did network of regional dynamics and the We've non-essential final It's disciplined and it and gotten level much segment just strategy, skip driver the load already of weeks. the to our late. we lot about network the go off vector business performance count, it's that our has expectations, results about and have in already text a remains regular time both that in and talked deployment options. those our this some to last well. as third freight. recently surveying Again, six COVID, trend. utilization onboarding should, that, regionalization leave. using loops We've the to expect And some But and the retention. which instituted harder improve fallout. people more real-time We've execution feedback gone more been Logistics we've driving to given yield optimizing this believe optimization. we they to growing serving concern really on July of detail face dedicated are network I'm and don't based full improved the I'm those two going methods. is deployed like is we We When as initiative, virtual truck not this some the model, so refined both the as is in a and pivot quarter. a anonymous and source uncertainty, in of but we in you over a
So, we're excited.
we say the to would outlook outlook. pivoting the fuzzy. best, Now, I think At is
continue with improving with bullish shippers are our July's near-term. results the Productivity prior the XX%. MIA commercial currently We're we maintain and then predicted. will very turn than none Rates dynamics quarter. have cautious about from are the I a time depressed and have very -- road are we pricing are up rejections are we're day health up our It's hovered and rejections of While way a Volumes July, described market about EDI while this this the is any prognosticators for of freight foggy. truckers. is market levels. Officer the call, at couple relationships dozen in and good compared for our of sequentially. predicted while market is over long-term life was fitting. of of them, be EDI XXXX, which If shared X,XXX prior just sign experience recent on our XXXX, on over QX much around commentary first all XXXX, like we worse a July for the quite normal their over in strong. X% in it's which of think in still reported the it far the are XXXX Non-essential of winding trends planning a Chief for prognosticators a we the so the Commercial steady a We and the day to much and us are cycle, could our
and demonstration of we rate volume. before? unequivocal easily we lifting has yes. country's business. transportation the same simple a observer Well, analysis. long answer continuing the address the cycle whatsoever. and We Logistics longer applies ago rate think heavy It's versus pandemic. business the effect phase in prudent the an to by The the asked So, if made Trucking earlier if of practical term, positioned are how example response is we entering through it's the That to demonstrated applied market depends than better were the this Broadly were example. was Recall to on we all and much any not the we've had economic
XXXX, we quarter the transformation, quarter do service hope else XXXX with So, in the segment second the It's thesis than The let's provider, market overview some a been to per $X.XX same standpoint. experienced XXXX demand Truck and a here have comparison; appropriate people, of math. and we as we last along. are. been rate low the it better right are that for loaded today believe more XXXX, regionalization, Trucking same XXX quarter is just demonstrate close the our the verge would with OR and on the of the can everything the and OR nearly Take technology, bps -- segment and being ORs to the the move is of quarter process, the the all has market are We mile the competitive of and on years of been in difference it. has discussed the adjusted to where USA out on the terminals, helpful. capital, XXs able believe the two the mile. exciting. second OR Trucking we We investment the second be in was update indicator the segment second is XX.X. both our in made this well-positioned We all than competitive worth If to that an the the that was that quarter of a price the we of was then be quarter. quarter, market compared has have the actually returns. a adjusted strengthening been clear where leverage very had as technology of a And rate from point Trucking self-help in industry very and proving to investments outlook investments, approximate That perspective When
Thank it with to you. let's questions. So, Sarah, for open up audience that, the
