U.S. Xpress pursues IPO

The asset-based truckload carrier intends to list its Class A common stock on The New York Stock Exchange under the symbol USX.    U.S. Xpress Enterprises Inc., the nation’s fifth-largest asset-based truckload carrier by revenue, has filed for an Initial Public Offering of its Class A common stock of up to $100 million, according to its filing Monday with the Securities and Exchange Commission.
   However, the company did say, “The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined.”
   U.S. Xpress said it intends to list its Class A common stock on The New York Stock Exchange under the symbol USX.
   For calendar year 2017, the company generated operating revenues of $1.56 billion, up 7.2 percent from 2016, according to the SEC filing.
   As of March 31, U.S. Xpress had a fleet consisting of about 6,800 tractors and 16,000 trailers, including approximately 1,300 tractors provided by independent contractors.
   With its corporate headquarters in Chattanooga, Tenn., U.S. Xpress provides services primarily throughout the United States, with a focus on the eastern half of the country.