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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Revenue $ 288,721 $ 311,839 $ 829,588 $ 920,801
Operating expenses:        
Salaries, wages, and related expenses 102,314 104,537 302,753 300,980
Fuel expense 35,173 42,471 100,692 126,457
Operations and maintenance 16,984 22,468 50,328 60,248
Revenue equipment rentals and purchased transportation 72,046 78,943 203,045 244,281
Operating taxes and licenses 3,381 3,238 10,161 8,718
Insurance and claims 13,074 12,947 36,810 35,752
Communications and utilities 1,254 1,339 3,753 3,723
General supplies and expenses 11,774 11,201 38,169 28,416
Depreciation and amortization 18,182 14,357 51,701 41,734
Gain on disposition of property and equipment, net (602) (38,721) (12,380) (39,287)
Total operating expenses 273,580 252,780 785,032 811,022
Operating income 15,141 59,059 44,556 109,779
Interest expense, net 2,637 935 5,530 2,256
Income from equity method investment (5,335) (7,400) (16,659) (21,261)
Income before income taxes 17,839 65,524 55,685 128,784
Income tax expense 4,483 15,563 13,701 32,130
Income from continuing operations, net of tax 13,356 49,961 41,984 96,654
Income from discontinued operations, net of tax 150 525 450 525
Net income $ 13,506 $ 50,486 $ 42,434 $ 97,179
Basic income per share:        
Income from continuing operations (in dollars per share) $ 1.03 $ 3.47 $ 3.21 $ 6.24
Income from discontinued operations (in dollars per share) 0.01 0.04 0.03 0.03
Net income per share (in dollars per share) [1] 1.04 3.5 3.24 6.27
Diluted income per share:        
Income from continuing operations (in dollars per share) 0.98 3.36 3.06 6.09
Income from discontinued operations (in dollars per share) 0.01 0.04 0.03 0.03
Net income per share (in dollars per share) [1] $ 0.99 $ 3.39 $ 3.09 $ 6.12
Basic weighted average shares outstanding (in shares) 12,947 14,405 13,082 15,495
Diluted weighted average shares outstanding (in shares) 13,679 14,892 13,739 15,875
Cargo and Freight [Member]        
Revenues        
Revenue [2] $ 253,377 $ 266,599 $ 730,503 $ 791,069
Fuel Surcharge [Member]        
Revenues        
Revenue $ 35,344 $ 45,240 $ 99,085 $ 129,732
[1] Total may not sum due to rounding.
[2] Total may not sum due to rounding.