Why Shares of U.S. Xpress Are Falling Today
Shares of U.S. Xpress Enterprises (NYSE: USX) had fallen 21% as of 12:11 p.m. EDT on Friday after the trucking company delivered quarterly results that came in below expectations. The size of the drop seems disproportionate to the quality of the quarter, but U.S. Xpress shares were flying high coming into earnings season, and the markets weren't prepared for a miss.
After markets closed Thursday, the trucking company reported third-quarter earnings of $0.20 per share on revenue of $431.5 million, short of Wall Street's consensus of $0.21 per share in earnings on sales of $445 million. The earnings miss was negligible, especially considering the consensus number was pushed higher in the last few weeks as analysts adjusted expectations. But the revenue shortfall was a disappointment.
Image source: Getty Images.
Source Fool.com
