USA Truck goes back on the market

Core Insights - DSV plans to divest USA Truck, acquired earlier this year, as it is deemed "not an optimal fit" for DSV's asset-light business model [1][2] - USA Truck will be reported as discontinued operations during the transition, maintaining its independent operations and leadership [2] Acquisition Background - Schenker acquired USA Truck in 2022 for $435 million, providing shareholders with a 118% premium, as part of its strategy to expand trucking services in North America [3] - At the time of acquisition, USA Truck operated 1,900 tractors and generated over $700 million in revenue, with a network of terminals across the Eastern U.S. [3] Financial Performance - USA Truck returned to profitability in late 2020, achieving an 87% adjusted operating ratio in Q1 2022 before the divestment announcement [4] - The adjusted operating ratio for the TL unit declined to 95.3% in Q2 2022, coinciding with the onset of the current freight recession [5] - DSV reported a net loss of DKK 90 million (approximately $14 million) for USA Truck's operations in Q3 2025 [5] Leadership Statements - USA Truck's CEO expressed gratitude for the team's strength and professionalism, emphasizing a commitment to customers and stakeholders during the transition [6]