Knight-Swift Transportation

Knight-Swift slashes H1 2024 expectation by more than half

Knight-Swift Transportation cut earnings expectations by 58% for the first half of the year on Wednesday, citing an oversupplied truck market, poor weather in January and a tough start to bid season.

The company said adjusted earnings per share for the first quarter will range between 11 and 12 cents compared to a 39-cent outlook (at the midpoint of the guidance range) provided in late January. It is calling for adjusted EPS of 26 to 30 cents in the second quarter versus the previous 55-cent...

https://www.freightwaves.com/news/knight-swift-slashes-h1-2024-expectation-by-more-than-half

Morgan Stanley cuts earnings expectations amid surging insurance costs

Morgan Stanley cut earnings estimates for all the transportation companies it covers on Tuesday, citing rising insurance costs. It continues to believe the truckload space will be the most impacted as large jury verdicts remain a threat.

The firm said both nuclear verdicts and a prolonged period of insurance companies incurring costs above general inflation are reasons the cost line will remain bloated. During the fourth quarter, several carriers called out insurance expenses as a drag on...

https://www.freightwaves.com/news/morgan-stanley-cuts-earnings-expectations-amid-surging-insurance-costs

Third-party insurance business sinks Knight-Swift’s Q4

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Management from Knight-Swift Transportation sees weak demand carrying through the first quarter with...

https://www.freightwaves.com/news/third-party-insurance-business-sinks-knight-swifts-q4

Knight-Swift sees inflection coming, beats lowered Q3 expectations

Management from Knight-Swift Transportation said Thursday that a tipping point for the truckload market is close.

“It feels like the extreme aggressiveness that we have seen out of non-asset-based players has reached a level to where it’s not only unsustainable, but when you add how expensive financing is … it blows up,” President and CEO Dave Jackson told analysts on a conference call.

The comments followed an announcement earlier in the day that financially distressed digital broker Convoy was...

https://www.freightwaves.com/news/knight-swift-sees-inflection-coming-q3-beats-lowered-expectations

Knight-Swift executives take pay cut amid cost reduction efforts

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Following a tough second quarter, Knight-Swift Transportation announced Friday after the market...

https://www.freightwaves.com/news/knight-swift-executives-take-pay-cut-amid-cost-reduction-efforts

Knight-Swift reels in 2023 outlook after poor Q2

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Knight-Swift Transportation significantly lowered its 2023 full-year outlook Thursday, citing the...

https://www.freightwaves.com/news/knight-swift-reels-in-2023-outlook-after-poor-q2

Knight-Swift lowers Q2 expectations, closes on U.S. Xpress deal

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Knight-Swift Transportation warned Wednesday that second-quarter results are likely to disappoint in...

https://www.freightwaves.com/news/knight-swift-lowers-q2-expectations-closes-on-us-xpress-deal

Loaded and Rolling: Knight-Swift CEO pans under-21 driver push; falling contract rates shutter North Carolina carrier

Knight-Swift CEO pans under-21 driver push
(Photo: John Gallagher/FreightWaves)

A plan to allow 18-to-20-year-old truck drivers to haul interstate cargo got a sharp rebuttal at the Truckload Carriers Association (TCA) conference by Knight-Swift President and CEO David Jackson. The plan was conceived as a way to address the driver shortage and is strongly supported by the Biden administration and the American Trucking Associations (ATA). 

On Monday, Jackson said it was a horrible idea to let...

https://www.freightwaves.com/news/loaded-and-rolling-knight-swift-ceo-pans-under-21-driver-push-falling-contract-rates-shutter-north-carolina-carrier

Knight-Swift CEO rejects push to allow truck drivers under 21

ORLANDO, Fla. — Allowing truck drivers 18-20 years old to drive interstate cargo — a plan strongly supported by the Biden administration and the American Trucking Associations and seen as a way to address a driver shortage — would be a drag on carrier economics and safety, according to Knight-Swift President and CEO David Jackson.

“The idea of bringing 18-year-old drivers in, I think is a horrific idea for a multitude of reasons,” Jackson told attendees at the Truckload Carriers Association here...

https://www.freightwaves.com/news/knight-swift-ceo-rejects-push-to-allow-truck-drivers-under-21

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