1 unchanged sentence
In addition to the other information set forth in this report, you should carefully consider the factors discussed under Item 1A (Risk Factors) in our 2021 Form 10-K, which could materially affect our business, financial condition, and future results of operations.
−Removed: The risks described in this Form 10-Q and in our 2020 Form 10‑K are not the only risks facing us.
+Added: The risks described in our 2021 Form 10‑K are not the only risks facing us.
Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition, and results of operations.
−Removed: In addition to the risk factors set forth in our 2020 Form 10-K, we believe the following risks and uncertainties should be considered in evaluating our business.
−Removed: The new OSHA rule concerning COVID-19 vaccination/testing of employees could have a material adverse effect on our business, financial condition, and results of operations.
−Removed: In September 2021, President Biden announced a proposed new rule requiring all employers with at least 100 employees to ensure that their employees are fully vaccinated or require any employees who remain unvaccinated to produce a negative COVID-19 test result on at least a weekly basis before coming to work.
−Removed: The Department of Labor’s Occupational Safety and Health Administration ("OSHA") released the corresponding Emergency Temporary Standard (“ETS”) on November 4, 2021.
−Removed: After the ETS release, the Department of Labor clarified that truck drivers traveling alone are exempt from the ETS.
−Removed: Approximately 10% of our trucks have two professional drivers in the same truck.
−Removed: Although we are continuing to seek clarity on the ETS, it appears drivers who are in a truck together will be subject to the ETS, which means weekly testing and mask usage, if not vaccinated.
−Removed: The masking portion of the ETS goes into effect on December 5, 2021.
−Removed: The weekly testing requirement becomes effective on January 4, 2022.
−Removed: The ETS could, among other things, (i) cause our unvaccinated employees to go to smaller employers, not subject to the ETS, or leave us or the trucking industry, (ii) result in logistical issues, increased expenses, and operational issues from arranging for weekly tests of our unvaccinated employees who are subject to the rule, especially our unvaccinated drivers, (iii) result in increased costs for recruiting and retention of drivers, and (iv) result in decreased revenue if we are unable to recruit and retain new drivers due to the ETS.
−Removed: It is expected that the ETS could reduce the pool of available drivers to us and our industry, which would further impact the extreme shortage of available drivers.
−Removed: Furthermore, we already have seen legal challenges to the ETS, and there are more challenges to the ETS being threatened by trade associations and states’ attorneys general.
−Removed: Those challenges might block, alter, or delay the ETS.
−Removed: These uncertainties are likely to cause additional issues with compliance.
−Removed: Depending on the final resolution of these various unknowns, the ETS could have a material adverse effect on our business, financial condition, and results of operations.
−Removed: Difficulty in obtaining materials, equipment, goods, and services from our vendors and suppliers could adversely affect our business.
−Removed: We are dependent on our vendors and suppliers.
−Removed: We believe we have good vendor relationships and that we are generally able to obtain favorable pricing and other terms from vendors and suppliers.
−Removed: If we fail to maintain satisfactory relationships with our vendors and suppliers, or if our vendors and suppliers are unable to provide the products and materials we need or experience significant financial problems, we could experience difficulty in obtaining needed goods and services because of production interruptions, limited material availability, or other reasons.
−Removed: Currently, tractor and trailer manufacturers are experiencing significant shortages of semiconductor chips and other component parts and supplies, forcing many manufacturers to reduce or suspend their production, which has led to a lower supply of tractors and trailers, higher prices, and lengthened trade cycles, which could have a material adverse effect on our business, financial condition, and results of operations, particularly our maintenance expense, mileage productivity, and driver retention.
+Added: There have been no material changes from the risk factors disclosed in our 2021 Form 10-K.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.