May Investor Presentation May 2019 v.Final...2XU 275 6HUYLFH 2IIHULQJV2YHU WKH 5RDG 2YHUYLHZ ï 8 6 ;SUHVV ±,QYHVWPHQW +LJKOLJKWV &RQWLQXLQJ ,QYHVWPHQW LQ 7HFKQRORJ\ WR ,QFUHDVH 0RPHQWXP

$Page 1: May Investor Presentation May 2019 v.Final...2XU 275 6HUYLFH 2IIHULQJV2YHU WKH 5RDG 2YHUYLHZ ï 8 6 ;SUHVV ±,QYHVWPHQW +LJKOLJKWV &RQWLQXLQJ ,QYHVWPHQW LQ 7HFKQRORJ\ WR ,QFUHDVH 0RPHQWXP$
Our OTR Service OfferingsOver-the-Road Overview

1

Investor PresentationMay 2019


2

Disclaimer and Forward-Looking Statements

Forward-Looking Statements

This presentation (the “Presentation”) by U.S. Xpress Enterprises, Inc. (the “Company”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private SecuritiesLitigation Reform Act of 1995, as amended. Such statements may be identified by their use of terms or phrases such as "expects," "estimates," "projects," "believes," "anticipates," "plans,""intends," “outlook,” “strategy,” “focus,” “continue,” “will,” “could,” “should,” “may,” and similar terms and phrases. In this presentation, such statements may include, but are not limited to,statements concerning: any projections of earnings, revenues, cash flows, capital expenditures, or other financial items; any statement of plans, strategies, or objectives for future operations;any statements regarding future economic or industry conditions or performance; and any statements of belief and any statements of assumptions underlying any of the foregoing. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted orquantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The following factors,among others, could cause actual results to differ materially from those in the forward-looking statements: general economic conditions, including inflation and consumer spending; politicalconditions and regulations, including future changes thereto; changes in tax laws or in their interpretations and changes in tax rates; future insurance and claims experience, including adversechanges in claims experience and loss development factors, or additional changes in management's estimates of liability based upon such experience and development factors that cause ourexpectations of insurance and claims expense to be inaccurate or otherwise impacts our results; impact of pending or future legal proceedings; future market for used revenue equipment andreal estate; future revenue equipment prices; future capital expenditures, including equipment purchasing and leasing plans and equipment turnover (including expected trade-ins); expectedfleet age; future depreciation and amortization; changes in management’s estimates of the need for new tractors and trailers; future ability to generate sufficient cash from operations and obtainfinancing on favorable terms to meet our significant ongoing capital requirements; our ability to maintain compliance with the provisions of our credit agreement; expected freightenvironment, including freight demand, rates, capacity, and volumes; future asset utilization; loss of one or more of our major customers; our ability to renew dedicated service offeringcontracts on the terms and schedule we expect; surplus inventories, recessionary economic cycles, and downturns in customers' business cycles; strikes, work slowdowns, or work stoppages atthe Company, customers, ports, or other shipping related facilities; increases or rapid fluctuations in fuel prices, as well as fluctuations in surcharge collection, including, but not limited to,changes in customer fuel surcharge policies and increases in fuel surcharge bases by customers; interest rates, fuel taxes, tolls, and license and registration fees; increases in compensation forand difficulty in attracting and retaining qualified professional drivers and independent contractors; seasonal factors such as harsh weather conditions that increase operating costs; competitionfrom trucking, rail, and intermodal competitors; regulatory requirements that increase costs, decrease efficiency, or reduce the availability of drivers, including revised hours-of-servicerequirements for drivers and the Federal Motor Carrier Safety Administration’s Compliance, Safety, Accountability program that implemented new driver standards and modified themethodology for determining a carrier’s Department of Transportation safety rating; future safety performance; our ability to reduce, or control increases in, operating costs; future third-partyservice provider relationships and availability; execution of the Company’s current business strategy or changes in the Company’s business strategy; the ability of the Company’s infrastructureto support future organic or inorganic growth; our ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; and our ability to adapt tochanging market conditions and technologies. Readers should review and consider these factors along with the various disclosures by the Company in its press releases, stockholder reports,and filings with the Securities and Exchange Commission. We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factorsaffecting the forward-looking information.

Non-GAAP Financial Measures

This Presentation also contains references to non-GAAP financial measures, including Adjusted Operating Ratio, Adjusted Operating Income, and Adjusted Net Income attributable tocontrolling interest. Management believes the use of non-GAAP measures assists investors and securities analysts in understanding the ongoing operating performance of the Company’sbusiness by allowing more effective comparison between periods. The non-GAAP information provided in this Presentation is used by management and may not be comparable to similarmeasures disclosed by other companies, because of differing methods used by other companies in calculating Adjusted Operating Ratio, Adjusted Operating Income, and Adjusted Net Incomeattributable to controlling interest. The non-GAAP measures used in this Presentation have limitations as analytical tools, and you should not consider them in isolation or as substitutes foranalysis of the Company’s results as reported under GAAP. Management compensates for these limitations by relying primarily on GAAP results and using non-GAAP financial measures on asupplemental basis. Refer to the Appendix section of this Presentation for definitions of Adjusted Operating Ratio, Adjusted Operating Income, and Adjusted Net Income attributable tocontrolling interest and reconciliations of those measures to the most directly comparable GAAP measures.


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U.S. Xpress – Investment Highlights

4Continuing Investment in Technology to Increase Momentum on Initiatives Focused on Driver Satisfaction and a Frictionless Order

3 Significant Transformation Underway to Drive Accelerated Margin Improvement and Earnings Growth

1Leading North American Truckload Player with aBalanced Portfolio Enjoying Benefits of Scale

5 Internal Improvements + Strengthening Balance Sheet = A Unique Growth Opportunity

2Business Model Designed to Take Advantage of All Cycles Complemented by a Diverse Customer Base


4

• Fifth-largest asset-based truckload carrier in the U.S.

‒ $1.8bn total operating revenue in FY 2018

‒ ~6,600 tractors and ~15,000 trailers

• Complementary asset-based and brokerage service

offerings with an allocation strategy designed to

maximize profitability

• Fully developed terminal networks and scalable

• Modern tractor fleet with advanced safety & efficiency

features

‒ ~ 2.2 year average tractor age

• Diversified end markets and blue-chip customer

base of Fortune 500 companies

Leading Truckload Operator Scaled for Success

U.S. Xpress is a Leading Truckload Carrier...…Scaled for Success with Network

Breadth & Depth…

Terminal (13) Drop Yard (35) Brokerage (5)

1000+500 - 1000200 - 500100 - 20050 - 10020 - 500 - 20

Population per Square Mile by State

1. U.S. Xpress Adjusted Operating Ratio (“Adjusted OR”). See appendix of this presentation for Adjusted OR reconciliation.

96.1%97.4%

95.7%94.1%

FY’17 FY’181Q’18 1Q’19

…and Continued Financial Improvement

Adjusted Operating Ratio (1)

(%)

USX Adjusted Operating Ratio1

40 bpsimprovement

330 bpsimprovement


5

• Longer-term contracts with committed rates, lanes and volumes

• High renewal rate of ~97% of all contracts after the initial contract term

• Limited competition with the scale to compete for larger contracts

• Earnings resilience

Over-the-Road (“OTR”)

Evolution of Dedicated Portfolio in 2018 Yielded an approximate 12% Increase in Revenue per Tractor Compared to the Prior Year

• Short-term customer contracts without volume or capacity guarantees

• Benefit from supply / demand imbalance and price volatility

• Upside potential in strong market environments

• Provides services in both contractual and spot markets

• “Oversell” asset-based capacity and broker excess freight to third-party carriers to provide customers with more solutions

• Select best loads from aggregate volume to prioritize company margins

• Minimal capital investment with high ROIC

• Consistent gross margin

Dedicated Brokerage

Complementary Portfolio Balances Market Cycles

2018 Revenue (Ex. FSC) Breakdown by Division (1)

(%)

1. ~1-2% attributable to detention and other ancillary charges2. Represents Q1 2019 vs. Q1 2018 year-over-year change

Benefit to

Portfolio

Recent Trends

51% 32% 15%

+11.8% YoY increase in revenue per tractor per week Q1(2)

+18.9% YoY increase in operating income(2)

6.1% YoY decrease in average revenue per tractor per week in Q1(2)

Impacted by weather conditions, the transition out of Mexico operations, and the less favorable freight environment

The increase in utilization was primarily driven by the Company’s growth initiatives and improved execution.

Revenue decrease was more than offset by higher gross margin and sourcing third party capacity more efficiently.


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Retail34%

Food & Beverage20%

E-Commerce and Packages

14%

Manufacturing10%

Consumer Products

9%

3PL5%

Paper & Packaging

3%Chemical

3%

Automotive3%

Other1%

Long-Standing, Diverse Customer Base

Customer Mix Relatively Balanced Through Seasonal and Cyclical Swings

Long-Standing Blue Chip Customer BaseUtilizing Multiple Service Offerings

2018 Customer Mix

8 of our Top 10 Customers use all 3 of our

service offerings

Relationships with 8 of our Top 10

Customers exceed 15 years

Our top 50 customers represent 81% of our

2018 revenue Retail mix is weighted towards discount

retail and consumer products


7

New culture focused on profitability & accountability

Service Offering Diversification Era Transformation Era

2015 and On

Our History & Transformation

1985 1994 2004 2007 2015 2016

Celebrated 30 yearsin business

Completed go private

transaction

IPO ($254mm Total

Revenue for FY 1995)

Deregulation & Market Share Era

Eric Fuller becomes President

Achieved $1.0bn in Total

Revenue for FY 2004

Founded by Max Fuller

and Pat Quinn (50 trucks)

Total Revenue grew from $11mm in 1986 to $758mm in 2000

Average Adj. OR: 93%

• Gained critical mass / scale through internal growth and acquisitions

1985–2000

Total Revenue grew from $772mm in 2001 to $1.4bn in 2015

Average Adj. OR: 98%

• Rapidly expanded service offerings

2000–2015

2017

Three key tactical initiatives

commence

Total Revenue grew to $1.8bn in 2018

2018 Adj. OR: 94.1%

• New management to implement transformational initiatives

Entrepreneurial & “siloed” culture focused on top line growth


8

Strategic Initiatives Fueling Improvement

Fleet Renewal and Maintenance Redesign Program

CustomerService

Leadership and Culture TransformationPre-

Transformation

Freight Selection to Prioritize Our Assets

Load Planning

Fleet Management

Fleet Quality &

Productivity

Culture

TacticalExecution

of On-Going

Initiatives

2014 2015 2016 2017 2018

1

3

2019

Frictionless Order

2


9

Our Transformation Began with New Leadership and a Cultural Shift …

TitleIndustry

Experience (yrs)Year Assumed Current Role

Eric FullerCEO & President 18

2015 (President)2017 (CEO)

Eric PetersonCFO 15 2015

Max FullerFounder, Executive Chairman

46 1985

1

• Over 70% of our 94 senior positions were upgraded by

both promoting internal high performers and drawing

tenured industry experience from respected peers.

Experienced Executive Management Team …

… Supported by a Deep Bench of Top Talent

“Win the Week”

Culture of Enterprise-level Profitability

Foundation for Key Tactical Initiatives

Key ActionsKey Actions

Initiated a major shift in culture

Focus on managing by core metrics:

Rate, Truck Count, Utilization, and Cost

Reconfigured daily operations to hold all employees accountable for metrics within their control

Linked compensation to core metrics


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… … Continued with a Focus on Fleet Quality and Productivity …

Aligned tractor specifications and financing for 475,000 mile trade cycle and operational application

Brought maintenance in-house to improve repair time, reduce downtime and minimize future maintenance issues

Eliminated “silo” approach to our Brokerage platform to increase visibility between segments

Redesigned freight flow between Truckload and Brokerage with proprietary optimization system

Freight Selection to Prioritize Our Assets

Fleet Renewal and Maintenance Redesign Program

Our PreviousFreight Strategy

Our Freight Allocation Redesign

Third-Party Carriers

Our Assets Third-Party Carriers Our Assets

1

2

2

Almost none of our tractors need maintenance repairs between regular preventative maintenance intervals

Maintenance cost per mile down vs. 2015

Reduced fleet downtime improves driver experience and opportunity for utilization


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… And Our Current Tactical Initiatives Are Accelerating Our Performance

Load Planning

Key Actions

Decreased Driver Turnover

Fleet Management Customer Service

Increased Network Visibility and BalanceIncreased Driver Take-

Home Pay

3

Initiated in September 2017 for OTR fleet

Instituted an approach that plans loads by drivers’ hours

Extensive process & systems changes

Leveraged trailer-tracking technology

Initiated in September 2017 for OTR fleet

Instituted an approach that plans loads by drivers’ hours

Extensive process & systems changes

Leveraged trailer-tracking technology

Initiated pilot program in October 2017; rolling out to the remainder of the Solo and Team fleets during 2018

Redesigned workflow

Emphasize proactive interactions to anticipate and fix issues for drivers

Initiated pilot program in October 2017; rolling out to the remainder of the Solo and Team fleets during 2018

Redesigned workflow

Emphasize proactive interactions to anticipate and fix issues for drivers

Initiated in January 2018

Redesigned customer service model

Assigned experts in managing freight flows in and out of regions

One responsible party per market

Initiated in January 2018

Redesigned customer service model

Assigned experts in managing freight flows in and out of regions

One responsible party per market

Average Revenue Miles per Tractor per Week (%)

Results

Outperformed Industry Peer Utilization Trends

1. Industry group includes Werner Enterprises, Inc., Covenant Transportation Group, Inc. and USA Truck, Inc. Does not include peers that do not report utilization metrics

USX OTR Utilization YoY Growth Industry Utilization YoY Growth (1)

Pre-Initiatives Results of Initiatives

-1.0%

5.9%4.7%

5.8%

0.6%

-4.4%-6.7%

-1.4%-2.6% -2.7% -1.8%

-5.8%-7.0% -7.6%

Q1 - Q3 '17 vs. Q1- Q3 '16 Q4 '17 vs. Q4 '16 Q1 '18 vs. Q1 '17 Q2 '18 vs. Q2 '17 Q3 '18 vs. Q3 '17 Q4 '18 vs. Q4 '17 Q1 '19 vs. Q1 '18


12

Advancing Our Technological Initiatives to Drive Further Operational Improvement 3

100% Frictionless Order

Capitalizing on Digital Technologies to Create Competitive Advantages and Position U.S. Xpress as an Industry Leader

Advance the Company’s technology initiatives focused on:• Digital load matching• Automated load acceptance and prioritization• Goal of achieving frictionless order

Eliminate the friction, frustration, and cost associated with “manual gates” and data entry

Objectives:• Improve driver satisfaction and retention • Optimize freight planning• Reduce costs• Expand capacity


13

Our Platform and Initiatives are Focused on Our Drivers

What’s To Come

… Has Enabled Us to Keep a Stable Truck Count in a Challenging Driver Market

Our Commitment to What Matters to Our Drivers…

Maximize Take-Home Pay

Optimize Available Hours Full Ride Scholarship

Dedicated & Attractive Lanes Robust Training Platform

Safe & Efficient Fleet

Average Tractor Count

Redesigned Development Center(s)

6,190 6,205 6,300 6,245 6,299 6,201 6,295 6,275

Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19


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97.5%

95.6%

97.4% 97.4%

94.1%

93.0%

98.0%

2014 2015 2016 2017 2018

Continuing Financial Improvement

Poised to Continue to Benefit Further from Ongoing Transformation

Adjusted Operating Ratio (1) (%)

We believe our ongoing initiatives provide us with significant opportunity to continue to improve our Adjusted Operating Ratio1 over time

1. Adjusted Operating Ratio. See Appendix of this Presentation for U.S. Xpress’ Adjusted OR reconciliation.


15

First Quarter Financial Highlights


16

Growing Revenue & Improved Profitability

Adjusted Operating Income1

Adjusted Operating Ratio1 Adjusted Net Income1

1See GAAP to non-GAAP reconciliation in the Appendix

Total Revenue (Excl. Fuel Surcharge)

5,050

26,455

11,534

22,892

18,520

31,835

14,85416,038

Q2-17 Q2-18 Q3-17 Q3-18 Q4-17 Q4-18 Q1-18 Q1-19

338,463

402,808 356,378

413,887 390,489

422,530 382,858 375,312

Q2-17 Q2-18 Q3-17 Q3-18 Q4-17 Q4-18 Q1-18 Q1-19

98.5%

93.4%

96.8%

94.5%95.3%

92.5%

96.1%95.7%

Q2-17 Q2-18 Q3-17 Q3-18 Q4-17 Q4-18 Q1-18 Q1-19

510 bps 230 bps

280 bps

40 bps

(6,977)

11,285

(675)

16,129

879

19,494

1,159

7,312

Q2-17 Q2-18 Q3-17 Q3-18 Q4-17 Q4-18 Q1-18 Q1-19


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Average Revenue per Loaded Mile($)

$2.05$2.13

Q3 2017 Q3 2018

62456275

Average Revenue Miles per Tractor per Week(#)

1814

1768

Average Tractors(#)

Commentary

Driven by Momentum in our Core Metrics

Rate

Tractor Count

Utilization

Recent Operating Metrics Illustrative Sensitivity

Each 1% movement in rate per mile ($0.02) will have a ~$10 million impact on annual net

income(1)

Each 1% movement in average tractors (~65 tractors) will have a ~$3 million impact on annual

net income(2)

Each 1% movement in revenue miles per tractor per week will have a ~$3 million impact on

annual net income(3)

Current expectations for mid-single digit contract rate growth for 2019

Full roll-out of our Fleet Management initiative

Marginal reduction in driver turnover has material impact on seated tractor growth

Utilization impacted by a change in customer shipping patterns in the Dedicated Division

Rate increases negotiated July 2018

Q1’18 Q1’19

Q1’18 Q1’19

Q1’18 Q1’19

1. Assumes 1% increase on Q1 2019 average revenue per loaded mile of $2.13. Based on 588,305 total revenue miles (FY 2018)2. Assumes 1% increase on Q1 2019 total tractors. Assumes $3,762 average revenue per tractor per week (Q1 2019) and a 1/3 contribution margin3. Assumes 1% increase on Q1 2019 average miles per tractor. Assumes 6,275 average tractors (Q1 2019), $2.13 average revenue per loaded mile (Q1 2019) and 1/3 contribution margin


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Redesigned competency based training program designed to provide drives with enhanced skills and abilities

Formally launched in 2018

Savings being realized department matures and as culture evolves

Disposition of U.S.-Mexico cross boarder business in January 2019 will result in an approximate 3% reduction in non-driver headcount and will reduce other fixed operating costs

Opportunities to reduce insurance costs and litigation fees through continued focus on programs around the recent investment in event recorders

Maintenance

Stringent preventative maintenance program

Zero tolerance for exceptions

Driver Training

Enhanced Profitability with Cost Discipline & De-leveraging

Procurement

Overhead Efficiencies

Effective fuel surcharge program in place

Fuel

Enhanced Safety / Insurance

The Company Is Focused On Managing Its Fixed And Variable Costs


19

Strengthened Balance Sheet & Significant Interest Savings

Debt reduction as result of IPO proceeds combined with June 2018 refinancing decreased annual interestexpense by approximately $30.0 million

Focused on continuing to strengthen our balance sheet and reducing our leverage ratio which will further position us for future opportunities as they arise

($ in thousands) BalancePercent of

CapitalizationInterest

RateWt. Avg

Interest RateCash and cash equivalents 2,095$ Funded Debt

Credit Facility - Term Loan1

192,500 26.2% 47.0% 4.75% 2.23%

Credit Facility - Revolver1

- 0.0% 0.0% 0.00% 0.00%

Equipment debt2

193,406 26.3% 47.3% 4.90% 2.32%Real estate debt 18,715 2.5% 4.6% 6.75% 0.35%

Miscellaneous debt2

4,546 0.6% 1.1% 3.25% 0.04%Total Funded Debt 409,166$ 55.6% 100.0% 4.93%

Stockholders Equity3326,475$ 44.4%

Total Capitalization 735,641$ 100.0%1.

Pricing is subject to changes in the Consolidated Net Leverage Ratio and LIBOR

margins range from 1.75-2.50%. As of 3/31/19 the margin is 2.25%.2. Includes Capital Leases3.

Based on 3/29/19 closing price of $6.61 and approximate shares outstanding of 49.6 million

Capitalization Table with Cost of DebtCapitalization

March 31, 2019 Cost of Debt


20

In Summary

4Continuing Investment in Technology to Increase Momentum on Initiatives Focused on Driver Satisfaction and a Frictionless Order

3 Significant Transformation Underway to Drive Accelerated Margin Improvement and Earnings Growth

1Leading North American Truckload Player with aBalanced Portfolio Enjoying Benefits of Scale

5 Internal Improvements + Strengthening Balance Sheet = A Unique Growth Opportunity

2Business Model Designed to Take Advantage of All Cycles Complemented by a Diverse Customer Base


21

Appendix


22

Segment Performance

Commentary Operating Statistics

1.Excluding fuel surcharge revenue

Over-the-Road• Utilization adversely impacted by transition out of

U.S.-Mexico cross border investment, weather, and increased supply pressuring the spot market

Dedicated• Improvements in rate and utilization are a result of

our initiative to enhance or replace under performing business and to focus growth on higher performing accounts

Consolidated• Benefited from successful initiatives in our

Dedicated division partially offset by temporary headwinds in our Over the Road division

Brokerage• Gross margin increased as a result of more

available capacity relative to our customers’ demands

DedicatedAverage revenue per tractor per week1 $3,961 $3,544 $417 Average revenue per mile $2.337 $2.183 $0.154 Avg. revenue miles per tractor per week1 1,695 1,623 72 Average tractors 2,658 2,623 35

Consolidated

Average revenue per tractor per week1 $3,762 $3,721 $41

Average revenue per mile $2.128 $2.051 $0.077

Avg. revenue miles per tractor per week1 1,768 1,814 (46)

Average tractors 6,275 6,245 30

Three Months Ended March 31,Over the road 2019 2018 Change

Average revenue per tractor per week1 $3,616 $3,850 ($234)Average revenue per mile $1.985 $1.972 $0.013 Avg. revenue miles per tractor per week1 1,822 1,952 (130)Average tractors 3,617 3,622 (5)

Brokerage Brokerage revenue $46,244 $54,541 ($8,297)Gross margin % 17.5% 14.0% 3.5%Load count 33,819 39,250 (5,431)


23

Non-GAAP Reconciliation

Non-GAAP Reconciliation - Adjusted Operating Income and Adjusted Operating Ratio (unaudited)

Quarter Ended March 31,(in thousands) 2019 2018GAAP Presentation: Total revenue 415,363$ 425,708$ Total operating expenses (402,725) (410,854) Operating income 12,638$ 14,854$ Operating ratio 97.0% 96.5%

Non-GAAP Presentation:Total revenue 415,363$ 425,708$ Fuel surcharge (40,051) (42,850) Revenue, excluding fuel surcharge 375,312 382,858

Total operating expenses 402,725 410,854 Adjusted for:Fuel surcharge (40,051) (42,850) Mexico transition costs (3,400) - Adjusted operating expenses 359,274 368,004 Adjusted operating income 16,038$ 14,854$

Adjusted operating ratio 95.7% 96.1%


24


Non-GAAP Reconciliation - Truckload Adjusted Operating Income and Adjusted Operating Ratio (unaudited)

Quarter Ended March 31,(in thousands) 2019 2018Truckload GAAP Presentation: Truckload revenue 369,119$ 371,167$ Truckload operating expenses (359,277) (358,664) Truckload operating income 9,842$ 12,503$ Truckload operating ratio 97.3% 96.6%

Truckload Non-GAAP Presentation:Truckload revenue 369,119$ 371,167$ Fuel surcharge (40,051) (42,850) Revenue, excluding fuel surcharge 329,068 328,317

Truckload operating expenses 359,277 358,664 Adjusted for:Fuel surcharge (40,051) (42,850)

Mexico transition costs1 (3,400) - Truckload adjusted operating expenses 315,826 315,814 Truckload adjusted operating income 13,242$ 12,503$

Truckload adjusted operating ratio 96.0% 96.2%1

During the first quarter, we incurred expenses related to the exit of our Mexico business totaling $3,400.


25


Non-GAAP Reconciliation - Adjusted Net Income and EPS (unaudited)

Quarter Ended March 31,(in thousands, except per share data) 2019 2018GAAP: Net income attributable to controlling interest 4,721$ 1,159$ Adjusted for: Income tax provision 1,901 593 Income before income taxes attributable to controlling interest $ 6,622 $ 1,752

Mexico transition costs1

3,400 - Adjusted income before income taxes 10,022 1,752 Adjusted income tax provision 2,710 593 Non-GAAP: Adjusted net income attributable to controlling interest 7,312$ 1,159$

GAAP: Earnings per diluted share 0.10$ 0.18$ Adjusted for: Income tax provision attributable to controlling interest 0.04 0.09 Income before income taxes attributable to controlling interest 0.13$ 0.27$ Mexico transition costs 0.07 - Adjusted income before income taxes 0.20 0.27 Adjusted income tax provision 0.05 0.09 Non-GAAP: Adjusted net income attributable to controlling interest 0.15$ 0.18$ 1 During the first quarter, we incurred expenses related to the exit of our Mexico business totaling $3,400.

Documents

May Investor Presentation May 2019 v.Final...2XU 275 6HUYLFH 2IIHULQJV2YHU WKH 5RDG 2YHUYLHZ ï 8 6 ;SUHVV ±,QYHVWPHQW +LJKOLJKWV &RQWLQXLQJ ,QYHVWPHQW LQ 7HFKQRORJ\ WR ,QFUHDVH 0RPHQWXP