Financial Performance - Operating revenues increased to $1421 million in 2Q25 from $1317 million in 2Q24[77] - Revenues excluding fuel surcharge were $1282 million in 2Q25, compared to $1168 million in 2Q24[77] - Adjusted income from operations improved by 9% year-over-year[82] - Adjusted EBITDA increased from $153 million in 2Q24 to $166 million in 2Q25[77] Segment Results - Truckload revenues excluding fuel surcharge increased 15% year-over-year due to the Cowan acquisition and higher revenue per truck per week[87] - Dedicated average trucks grew 27% year-over-year, primarily driven by the Cowan acquisition[87] - Intermodal revenues excluding fuel surcharge increased 5% year-over-year due to a 5% volume growth[91] - Logistics revenues excluding fuel surcharge increased 7% year-over-year due to the Cowan Systems acquisition and Power Only growth[94] Capital Allocation and Strategy - The company announced a $150 million, 3-year share repurchase program in February 2023, with approximately $46.1 million remaining as of June 30, 2025[61] - Dividends have increased 90% since the IPO in April 2017[61]

Financial Performance - Q1 2025 - Operating revenues increased to $1402 million from $1319 million in 1Q24[71] - Revenues excluding fuel surcharge were $1258 million, compared to $1163 million in 1Q24[71] - Adjusted income from operations improved nearly 50% year-over-year[76], rising from $30 million to $44 million[71, 98] - Adjusted diluted earnings per share increased from $011 to $016[71, 100] - Adjusted EBITDA increased to $155 million from $131 million in 1Q24[71, 99] Segment Results - Q1 2025 - Truckload revenues increased 14% year-over-year due to the acquisition of Cowan Systems[81] - Intermodal revenues increased 5% year-over-year primarily due to volume growth of 4%[85] - Logistics revenues increased 2% year-over-year due to the acquisition of Cowan Systems[89] Capital Allocation and Shareholder Returns - $170 million in dividends paid out year to date as of March 31, 2025[58] - $83 million of shares repurchased in the quarter[76] - Approximately $461 million remaining authorization for share repurchase program as of March 31, 2025[58]