Hello, and welcome to the latest issue of the OpenLine!
I would like to begin by recognizing our Driver of the Month, Juan Chavez Delgado, and Rookie of the Month, Joshua Weston. Congratulations, and thank you to these excellent drivers for their hard work and dedication.
As you know from the various video updates provided over the last several months, the company has continued to perform much better than originally feared at the start of the COVID-19 pandemic. This is a result of the tireless work of our drivers, as well as our Sales and Operations departments. Everyone has gone above and beyond to keep our trucks moving! As a result, the company remained profitable, and our driver’s paychecks remained steady.
Melton has always been managed with a conservative mindset as we maintain a young fleet of trucks, save our pennies during the good times, and keep a watchful eye on our expenses. As a result, we’ve always felt prepared to withstand any unexpected economic challenge. All of us should be proud of how we have responded to the greatest challenge the company has ever faced.
We remain optimistic about business conditions over the next few months. Furthermore, we’ve resumed the truck and trailer orders suspended in April, and we’re very pleased to restore the 401K match. However, we are still a long way from a normal environment and understand freight conditions could deteriorate from their current levels. We will remain cautious with decisions and be prepared to quickly respond to changing situations.
As a reminder, the deadline to get your PHA Screening completed is just around the corner. You will need to have this screening completed by September 30th to be eligible for the iCare rates. Both covered employee and spouse must complete the screening on or before the deadline date to avoid a 2021 benefit premium increase. This applies to all employees hired before July 3, 2020. You can go here to schedule your screening now!
Thank you for doing your part to make Melton the premiere flatbed carrier on the road.
Executive Vice President and Chief Financial Officer