Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Information

v3.8.0.1
Quarterly Financial Information
12 Months Ended
Dec. 31, 2017
Selected Quarterly Financial Information [Abstract]  
Quarterly Financial Information
Note 10. Quarterly Financial Information (Unaudited)

A summary of our unaudited quarterly financial information for 2017 and 2016 is provided below. Our tonnage levels and revenue mix are subject to seasonal trends common in the motor carrier industry. Our revenue and operating margins in the first and fourth quarters are typically lower than those during the second and third quarters due to reduced shipments during the winter months. Harsh winter weather or natural disasters, such as hurricanes, tornadoes and floods, can also adversely impact our performance by reducing demand and increasing operating expenses.
 
 
Quarter
(In thousands, except per share data)
 
First
 
Second
 
Third
 
Fourth
 
Total
2017
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
754,096

 
$
839,912

 
$
872,987

 
$
891,117

 
$
3,358,112

Operating income
 
108,122

 
160,432

 
163,875

 
143,457

 
575,886

Net income (1)
 
65,792

 
98,418

 
102,314

 
197,250

 
463,774

Earnings per share:
 
 
 
 
 
 
 
 
 
 
Basic
 
0.80

 
1.20

 
1.24

 
2.40

 
5.63

Diluted
 
0.80

 
1.19

 
1.24

 
2.39

 
5.63

Cash dividends declared
 
0.10

 
0.10

 
0.10

 
0.10

 
0.40

 
 
 
 
 
 
 
 
 
 
 
2016
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
707,733

 
$
755,435

 
$
782,611

 
$
745,738

 
$
2,991,517

Operating income
 
99,548

 
133,436

 
137,404

 
113,447

 
483,835

Net income
 
60,285

 
81,388

 
85,581

 
68,511

 
295,765

Earnings per share:
 
 
 
 
 
 
 
 
 
 
Basic
 
0.72

 
0.98

 
1.03

 
0.83

 
3.56

Diluted
 
0.72

 
0.98

 
1.03

 
0.83

 
3.56

Cash dividends declared
 

 

 

 

 



(1)
During the fourth quarter of 2017, we recorded a provisional tax benefit of $104.9 million due to the remeasurement of our deferred taxes to reflect the impact of the Tax Act.