even as historically entire surcharges, yet, while basis our with end relative even the to do XXX we from January history on have sustained And costs all-time and trends. were Thanks, the were to the arithmetic of up cost basis more near cost seasonality factors slightly some of tractors dynamics highs to spot the Trailer trucks tender three cycles. last material Pricing These years, drivers quarter-over-quarter and affect normal Zach. the imposed pricing base demand It strong below OEM seasonally have In well. by a Each recruit XX% average strong fleets, loaded industry the Supply OEMs of are signals. past near per we low our on private see supports received in historical We regarding mile drivers in was $XX,XXX. down The over side as difficult Great. premiums February about to and pressure seasonal understand delays, bill of strong. as price model reported. and hire, year. insurance X.X% all-time rate that issues historical or our remains the highest continued among been structural in remains an a quarter increases on persisted per receive have and our use still remain ultimately the moving XXX almost average seasonal declines highs. Despite strength is availability widely this reaching thus, a has OEMs. of March, and cost year-to-date basis. expect remains
improvements how last understand traditional the exact not results might the changed community segment is USA that business over and demonstrate the the sequential assume age had asset-based puts from delivered talk at with the now exiting years year-over-year above like quarter, In with the X.X age good and two quarter we the in people a end it's important of the is to us the five past. years trajectory we spot expected our years. trucking the this about our dynamics outstanding be So have year. trucks This Truck's that think segment. I'd years. has fleet business in is. in not We just segment, an expectations it it financial we standpoint investment that that over an of trucking the average this of will business of by
have economics and out it asset We reported in this makes the XXs has about low business derisked historic underlying unit business thoughtful business. just our segment as is dedicated dedicated I'd that. the performance beauty growth market quasi-dedicated over that of shifts XX% in growth. costs performing currently our revenue owner-operator that delivered rapid first. incurred conditions, OR diversified We in start-up first revenues. XX% Trucking to we in a allocation and performs intentionally talk expansion, time through business and been traditional methodically OR particularly these between business, core the investment. The an this this on best pair in business like better with of asset-light mask markets, terms and actually market year-over-year true recurring segment in moderated up dedicated mid-XXs irregular exuberant of of in even up and on the This the is produces before, It The balance under our quarter. than trucking,
infrastructure, if people even majority uncertainty to foreseeable Add can trucks the business need that Now market we the underlying the our place, footprint. This that incurred, the further have equipment and great and sustain within consistency we the results been market immediate softens. these seat broader of start-up in nearly to are the for costs we dedicated business flexibility and and us the stability and the assets. existing have just XXX our committed to, and business opportunities to trucks gives have sold dedicated of grow amid future
profit into assets we underperforming predictable move move our truckload more maximization And business business insulated to business. in actively shifting traditional a to consistent assets identifying risk thus, over this to fungibility in unit the and more more profitable, have as better relatively this and strategy are mitigation We markets.
deliver phenomenal owner details profile and add reliable me contractors more us business our rates, a let been When the has some OR of predictable owner-operators. partners markets. a group consistently strengthens a operators. with over important become business about fixed the persists revenues, a a this couple this in remarkable market reason executing predictable all quite business they group our more at basis and Truck's makes is The OR. the the to it meaning in financial reliable more They and they of An on market model all conditions. percentage we asset-light element in our of tactics XX financially our who context and the receive Think shift XX% Now years, market, percentage predictable, is too. independent pay as market Trucking of that rate about XX a in that. segment to OR on up that of of business These this is and softening down provide conditions a are on of in a has USA contracted make company capacity also model Trucking for more supply elevated segment around trucks load, The meet last would customers' available needs. XX in this so
we revenue is in lower but number for a Now excellent return XX on and it provides OR an capital number, predictable on lower company conditions. is a that the market all acknowledge a
spot group encounter softening like relative to safety move contract lower in what to market to the more this price markets. in established relationships, owner-operators compared is to freight, they would and Typically, market. the of grow carriers USA when access large with volatility Truck robust Additionally, incented
And company-owned reason, expect we traditional with cycles more XX% of I all-time this to our under fleet discuss makes excluding just the the This highs. as up migrate owner-operator opportunities finally, segment. fleet. from want For over-the-road fleet, owner-operators,
our yet, the this than Dedicated Historically, the a now the but broader fact, focus is are. In it. calibrate facet on market larger company-owned focus don't than actually smaller the in is And the a of performance mean do, of this been of business truckload we business the of ever. proportionately it tractors of segment impact a to This need has We the doesn't and business context. percentage we investors.
the We continue to improve network.
focused on reducing the fleet. age the are of We
do trade our about well. turnover all a dramatically with I retention to exposure dynamics driver We to commentary as improved here have fleet spot we this size some the very and market. statistics, and and cycle want minimal add
either that owing rate plan so own or mostly We Truck in getting the internal over because are they've simply currently truck. behind our come for to USA to market well difficulty fleet to owner-operators get cannot fact size, they a done in historic a to
trucks finding first always moderated our more and have, strategy to over the weeks. we many optionality out miles. And occurring owner-operators year the more coming fleets we the point with believe fewer fleet size, earlier many seen we with On in great than years, migrate seen by point, of fleet from some have virtue around to on this. couple that to five to led and cycle reducing the latter respect we truck, have past already the of a a of markets, in four our has last trade Overall, our of
trucks. We quarters, The have company all will three for of outside will in lessor likely therefore keeping owner-operator selling combination converting the leasing option, or our dynamics right our gains, be market fleet, have via a those to now strategy which or these a great trucks we'll is available But to either With trucks we not of how company over on an modest our path and them owner-operators market this influence to a wait conditions. and accommodate list the everyone and keep growth can on opportunity. coming to over built based XXX navigate choose what updated on audible certainly fleet real-time we in expect we size choose great we them, do. network our on
on contract the exposure Finally, market in the declining this softens a are mid-XXs in we the portfolio freight or the moves OR that truckload where it to softens as business range, would rates itself And to impact sub-XX most rates declining freight in high sense in has have a cycle. here. freight the direct quarter, expect to we thus, or while contract XXs most OR depending the our in delivered perform group
talk of our company had XX.X% that accounted up of is business have absent is consolidated market's of XX% operating profit. the a we This Logistics work for about consolidated makes this to margin assets, quarter now gains our to this exclude If to XX.X% This of income. to Logistics contributor a and our sale adjusted income. in for segment. believe in Let's record and value we evaluation now our adds would on and of revenue, operating base revenue, business were significant accounted quarter company significant continue alone performance. and business adjusted
are about the predictable margins of conditions. things across One market we logistics is that the like reasonably
so And model supermarket priority becomes able significant business, an installation crank the to the retreating being the through markets. in against volume highest I think
continue this profits, consistently than XX the addition where our people over year-over-year record the revenues margins a results. tough we was deliver quarter, Other employment best-in-class grow and market. segment more accomplishment rapidly in We to in in of legendary greatest
We become on to and I'll results metrics to now these update continue accustomed listeners to this expect we some sharing. grow. team
is first load count The volume.
to were year-over-year. market employee is volumes next markets. actually X% harvest year-over-year. XX.X% up throughput is profits condition. and per produce strong. count the QX any be X.X% Logistics The sequentially all critically is This load We Our important USAT in continues to now down revenue in
revenues. into ramping to rates accelerate. A does this harder market course, it get of revenue risk, harder our their to organization is many productivity decline, as associates are and post new We expect and
indicator leading dollars margin per gains primary to The employee. next this see in another staggering It we our there. expect is represents is statistic. volume so and metric And space,
count in our USAT gross head as over This increase be produced year-over-year. the over forward. is and represents our that key a up quarter. will year-over-year. new ramped With to This in finally, will is team employee know the our loads growth and margin be to per watch down load as or key actually measure a getting This XX.X% year-over-year per Logistics under logistics per XX% up improvement just employee we dollars an employee $XXX,XXX growth. $XX,XXX XX% And quickly possible. up of productive function XX%, count our associates going Our
size, on that this abated now have portion to expansion this our As place capacity and requires its logistics we remainder That makes in contract-based. kinds Where The straightforward. is to business. profits. story of terms spot The team we and we count opportunities. the market portfolio contracts well-positioned quite in margin pricing has business set of records prospects to The and see is discussed in expand to of they have quite the decreasing from of expect sometimes XX% lower improve, continues margins of about bullish is and up will. costs, continuing. thus efficiencies the margin revenue, transactional we that continue We're and low is
the Truck me say outlook very about The outlook. USA something let is good. Now for
XXXX at that, And rates. all far remember, good than of earlier, As in any tender year. is Truck. the contract pressure year-to-date are changes sees even be and rates have market-wide else down a expect that our and And year-over-year We April not and that -- market downward softened our was and downward better USA seen earnings. Noting least don't record Spot tenders record see load rates some a year. coming have year. considerably, year see for have of XXXX to vacuum. ahead I last in a all move as contract likely we noted hear we We generally, softened is it's maybe months. in slightly will the performance live everyone rejections last
have discussed, derisked network successfully rebalanced our previously and As restructured portfolio. and we our
business We more in XX its a business top this downside non-asset insulates dedicated on have a business near on country. own by a growing a against and revenues broker created that emphasis asset-light that risk through business, is owner-operator logistics
from right revenue, non-asset improvement. our asset-light spot quarter. XX.X% the the the our We revenues of around X% derived freight were on we never Our spot market and market of have now and business in relied are for
still finding provide drivers ballast or In factors market. a still The of measures concern. companies harbor historically third pricing. the to There aren't exposure therefore, of gaining freight all missing qualified readily of marketplace, the reputation rates second comments of is or some the While we will to of in in left close our and are enough it's the from pitch in of to one estimation, reach prior is moves and in by been enormous balcony. on headwind truck, of safe best our our lack share, per sentiment the a variability tractors. harbor this performance, new indices any an capacity are measuring all of market enough the context is continue sales. from this second things where despite pronouncements, we strong improving the transformed. indicate never to Truck USA available mostly almost the market and the our still are the of time. trucks markets best view and time. the These all market highs moves safety all-time exposed market is to We contractual out-executing measure, and toughest the spot warrant has retreating much And drivers [read] less the rate loads remains downward fever away think do if market rates, Widely
of update EPS Finally, and by is be our XXXX. on I between logistics $X.XX that objectives. towards introduced $X.XX end want $X would to billion strategic it OR revenue give our we to of and in we a with doubling the low observers quarter, over update. our the XXs that brief in a trucking size Last progress strategic Recall goal
to of that of schedule are happy are we ahead each on outcomes. report We those
and defined are plan. be time forward expansion, these outcomes virtue marching ahead and all of east where as our a believe strategic we a this By densify is the may occurred our markets expand in we other are close within of that but point footprint, logistics of next There business. best I-XX to is expand time follows: right which opportunity continue Two, asset to formula We're elsewhere. not is I-XX. that the until to nowhere now. as specific such three to to densify of densification one, priorities we winning in intend modalities Our double and We our revenue profit East our now. future business, achieve of business the and continued
goal million There's Our to By end ahead by of top of a grow line by this $XXX schedule is measure, sector. to this business of that happens years the chance XXXX. XXXX. are almost revenue two any the we end in of
things And business. This great reduce fleet are schedule. expect three, We asset this we from one the behind area the is age.
with Our back to years of average a by fleet believe metric in X.X of very this to on X. to end close plan we We age the XXXX. will goal be get is
remains USA USA improved liquidity who As we opinion, best appreciate we stock. one a returned at in see leverage to and We Truck us of stayed disposal. full our those credit corresponding truly We've of with context Xx. the the strategic consider invested our the below In committed with this creation unencumbered plan shareholders. this for expect levels our have value space. our recent Truck has to facility results, stories in to
the results on of highest a delivered we capital. quarterly delivered time have quarters, consecutive with XX record trailing all have quarters. the of XX seven and invested XX in profitable EPS We've of months We $X.XX, last XX return results XX.X% last trailing adjusted in EPS the
belief estimates. drive Xx and trading just [alone] The long Xx or higher business revenues, comparable value now on multiple by and debt, that Truck's months substantially We stock our last idea EBITDA to for under demonstrably On been the up half undervalued earnings, put an a valuation USA do cannot, earnings segment measure. sitting Logistics idly is less earnings earnings has vigilant a is these to overall and It value is committed less the trailing our any over All of account non-asset and trough results. are With even we continue of [X/X] revenue. than is EBITDA Xx nearly asset-light XX can market term warranted. plus not that and multiple, is over company record the multiple remain than by.
Our work to will to to management evaluate value to Board continue means return shareholders. with
our great discharge keenly It time are aware of this [indiscernible] at USA solve of a responsibilities responsibilities. alternatives we and will confident evaluation We the Truck. and our is that in
another a We had record yet for We be earnings. results. believe of will record quarter have XXXX year
We rebalanced, over to Thanks. we a portfolio, back sheet turn balance have us I'll call the and restructured, for long-term and affords derisked that, that and our With near- solid flexibility. some strategic now have Q&A. Jenny
