USF Corp. lowers earnings expectations

USF Corp. yesterday lowered its expectations for second-quarter earnings by as much as 52%. The carrier cited slower than expected business activity, pricing pressure in regional trucking companies and a fall-off in its logistics business segment. While business activity was encouraging in March and April, the company said freight movement slowed in May and continued at a reduced rate into the first

June 13, 2003

USF Corp. yesterday lowered its expectations for second-quarter earnings by as much as 52%.

The carrier cited slower than expected business activity, pricing pressure in regional trucking companies and a fall-off in its logistics business segment.

While business activity was encouraging in March and April, the company said freight movement slowed in May and continued at a reduced rate into the first part of June.

Roadway Corp. also lowered its expectations this week.