Knight-Swift

FMCSA denies requests to alter accident reporting procedures

WASHINGTON — The Federal Motor Carrier Safety Administration is moving ahead with changes proposed last year to its Crash Preventability Determination Program (CPDP) but has declined to make changes that motor carriers assert unfairly target drivers.

Under the CPDP, which FMCSA has been operating since May 2020, carriers and drivers can submit to FMCSA requests for data review, known as RDRs, to determine the preventability of a truck crash using 16 specific types of crash categories.

Last year,...

https://www.freightwaves.com/news/fmcsa-denies-requests-to-alter-accident-reporting-procedures

Knight-Swift starting to see positive TL rate negotiations

Knight-Swift Transportation said it is seeing normal seasonal demand trends and that it is capturing rate increases in its truckload business. It tempered the update by saying what happens to demand after Thanksgiving is an unknown that will ultimately impact at least the beginning of next year’s bid season.

Knight-Swift (NYSE: KNX) reported third-quarter adjusted earnings per share of 34 cents Wednesday after the market closed. The result was at the top end of management’s guidance range (31 to...

https://www.freightwaves.com/news/knight-swift-starting-to-see-positive-tl-rate-negotiations

Knight-Swift Q3 earnings: First look

Knight-Swift Transportation beat third-quarter expectations Wednesday after the market closed. Guidance introduced for the first quarter was worse than expected.

Knight-Swift (NYSE: KNX) reported adjusted earnings per share of 34 cents, which compared favorably to the consensus estimate of 32 cents and management’s guidance of 31 to 35 cents. The result was 7 cents lower year over year.

The company reiterated fourth-quarter adjusted EPS guidance of 32 to 36 cents, which bookended a 34-cent...

https://www.freightwaves.com/news/knight-swift-q3-earnings-first-look

Knight-Swift acquires DHE as next piece of national LTL map

Knight-Swift Transportation announced Tuesday that it has acquired less-than-truckload carrier Dependable Highway Express (DHE) for an undisclosed sum.

A wholly owned division of Los Angeles-based Dependable Supply Chain Services, DHE is a regional LTL operation with 14 service centers providing direct overnight service in California, Nevada and Arizona, according to its website. It provides LTL coverage in 40 states through partner agreements.

DHE generated $122 million in revenue for the past...

https://www.freightwaves.com/news/knight-swift-acquires-dhe-as-next-piece-of-national-ltl-map

Opposition grows to speedy electric truck transition

The Advanced Clean Transportation Expo, a generally upbeat event for battery electric, hydrogen and other emission-friendly technologies, takes place next week in Las Vegas amid a growing and widespread backlash to the regulation-driven transition to electric trucks.

Nearly every stakeholder — from the trucking industry and driver organizations to state attorneys general — is weighing in with dire estimates of crippling costs to a cyclical industry. Ryder System Inc. is the latest, dissecting...

https://www.freightwaves.com/news/opposition-grows-to-speedy-electric-truck-transition

Trucking electrification throttled by excessive ownership costs

Battery electric trucks face cost headwinds
(Photo: Jim Allen/FreightWaves)

Recent releases by Ryder System and Knight-Swift highlight the growing awareness of the added costs required for fleets that face increased pressure to transition to electric vehicles. A major challenge for long-haul trucking is cost, and current incentives from the Inflation Reduction Act only cover up to a maximum of $40,000 for commercial clean vehicles weighing over 14,000 pounds. A new Class 8 battery electric...

https://www.freightwaves.com/news/trucking-electrification-throttled-by-excessive-ownership-costs

Freight brokerages struggle through a long trough

The freight winter that sent Surge into bankruptcy and shut down Convoy isn’t over yet, even if the bottom is likely in. Tender rejection rates are hovering around 4%, indicating that capacity is still loose and that asset-based carriers aren’t in a position to reject contracted freight.

J.B. Hunt’s first-quarter results, reported Tuesday after markets closed, revealed the pain felt by the largest transportation providers and their brokerages. Integrated Capacity Solutions (ICS), Hunt’s...

https://www.freightwaves.com/news/freight-brokerages-struggle-through-a-long-trough

Pam Transportation books operating loss in ‘extremely challenging’ Q1

Truckload carrier Pam Transportation Services announced an operating loss for a second straight period in what it described as an “extremely challenging” first quarter.

Pam (NASDAQ: PTSI) reported net earnings per share of 1 cent compared to 23 cents in the same period a year ago. The result was below a lone analyst’s 7-cent estimate.

Gains generated from equity holdings were $3 million higher year over year (y/y), which produced a 10-cent tailwind to the EPS number. The carrier booked a loss on...

https://www.freightwaves.com/news/pam-transportation-books-operating-loss-in-extremely-challenging-q1

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