With the personnel reduction, divestitures of non-core real estate holdings and other cuts, U.S. The realignment plan is focused on improving the company's over-the-road operations, with limited impact to its Dedicated and Brokerage businesses. “We will have a leaner tech team focused on high-priority projects.” Those IT teams also have stopped work on projects without near term payback, he said. Highway Services will encompass its legacy OTR, Variant, and Brokerage operations.ĬFO Eric Peterson explained on the conference call that the change means a workforce reduction, “primarily removing duplicative costs as we consolidated corporate IT functions with our tech teams at both Variant and Express Technologies” (its brokerage operations). Dedicated will continue to operate as it does currently. The new streamlined business will be made up of two divisions: Dedicated and Highway Services. Revenue per tractor per week declined sequentially in the second quarter to $3,863 due to a combination of lower utilization within the fleet and a lower rate per mile as a large decline in the spot market portion of its business more than offset a meaningful increase in contracted rates in the quarter. The brokerage business did a little better, but the overall operating ratio was still 99.4% for the first six months.

Xpress’ Truckload operating ratio for the first six months of 2022 was 99.9%, compared to 97.9% the first six months of 2021.

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