Stock Price Up! Big G's ESOP pays big for everyone's future - Big G Express, Inc

Stock Price Up! Big G's ESOP pays big for everyone's future

October 20, 2020 Blog

Recently, our CEO Randy Vernon addressed the Big G family in a video message to discuss the successes of the year and unveil the company's 2019 stock price.

While we all missed getting to have our annual event for employee-owners and family to reveal the new stock price and account balances, COVID-19 caused us to treat this year differently to stay within safe guidelines. 

At the end of his video address, Randy revealed the stock price had gone up a whopping 21% over 2018 to $59.81! We know every one of our employee-owners was excited to see that amazing number knowing that it means a more secure future for each of us. 

As Randy said: THANK YOU ALL for everything you do to make the Big G Family of Companies GREAT! 

BEHIND THE STOCK PRICE: What factors affected the increase?

In his video address to the Big G Family, CEO Randy Vernon noted that the company has been very successful in growing for the past ten years, saying some of the growth has been from buying and adding trucks to our fleet as well as through acquisitions such as our purchase of Ike Transportation, our flatbed services company. 

Throughout this growth, Big G has focused on tending to EVERY DOLLAR EVERY DAY. Randy explains it saying, "We are in great financial position today because for the past 11 years, we have done things right. We have tended to every dollar, every day. We have focused on service, on safety and on security."

Looking at Big G's past stock trends that have continually increased, Randy stated, "It's good to be us!" before listing some of the initiatives that led to 2019's great performance:

  • Maintaining our rate per mile - We were able to hold the line through strong customer relationships and improved operational efficiencies. 
  • Insurance savings - Our overall safe performance limited our cost increases in the area of insurance. 
  • Debt reduction - During uncertain times, it's very comforting to have manageable debt at our size as many carriers are not in our solid position.
  • These actions and a focus on cost-savings initiatives contributed to another great year for Big G - and another reason for celebration during our 25th anniversary! Well done, Big G family! 

What does it mean to take care of EVERY DOLLAR, EVERY DAY?

Through all the years, one thing Big G has focused on is our attention to the details. That's another way to say we are tending to EVERY DOLLAR EVERY DAY. 

Today, we are a company that is in a great financial position by providing excellent service, making safety a priority, and keeping our eye on security. 

Providing the best service is key because it is the only product Big G sells and it is what sets us apart from the competition in the eyes of our customers. CEO Randy Vernon says, "It's a source of pride to me - and it should be to you as well - that customer after customer tells us Big G is the benchmark they use to grade other carriers."

Every dollar, every day means our performance in the area of safety must come without compromise. Remember, the quickest way to the poor house for a company in the trucking industry is to fail in the area of safety. 

Thanks to everyone on the Big G team for taking care of each other and every load. That's why IT'S GOOD TO BE US at BIG G! 

 

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