USX - U.S.Xpress indicates rising freight volumes in trucking industry forecast

For September industry forecast, U.S. Xpress ([[USX]] +2.1%) indicated that freight volumes will rise and drivers will become an increasingly precious commodity as economy recovers.Quick look at trucking industry companies 1-year performance:Recent months experienced significant increases in driver turnover, which is exacerbated by lower CDL school enrollment and the recently launched Drug and Alcohol Clearinghouse.From 2018-2019, carrier bankruptcies nearly quadrupled from and continually rising insurance premiums will further hobble small carriers.Although there is a marginal uptick in new truck orders in recent months it is below most analysts' calculated replacement demand level.With freight flowing at unmatched levels, tender volumes are significantly higher Y/Y; industry analysts expect elevated freight volumes to persist through 2021.Quick look at recent operating metrics:"Each of these three themes will greatly influence trucking rates over the next four to six quarters," president & CEO Eric Fuller commented.

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U.S.Xpress indicates rising freight volumes in trucking industry forecast