Knight-Swift

Knight-Swift lays off employees after expressing market weakness

Knight-Swift Transportation, one of the largest trucking companies in the United States, is facing a tumultuous period marked by disappointing financial results and a bleak outlook for the year ahead. 

As a response to these challenges, this week the company has conducted a series of layoffs affecting an undisclosed number of employees at the company, according to various sources. 

These developments come on the heels of a second-quarter earnings miss and lowered full-year earnings guidance,...

https://www.freightwaves.com/news/knight-swift-lays-off-employees-after-expressing-market-weakness

Q2 likely ‘peak pain’ for trucking companies, Morgan Stanley says

Morgan Stanley trimmed estimates Thursday ahead of earnings season. The firm sees the second quarter of 2023 as the point of “peak pain” for trucking companies and likely the bottom of the cycle.

“The quarter began with most companies reporting on 1Q calls that there was virtually no spring seasonal pickup and while this improved somewhat going into the end of the quarter, the lift was likely too little, too late to save the quarter,” said Ravi Shanker, Morgan Stanley (NYSE: MS) transportation...

https://www.freightwaves.com/news/q2-likely-peak-pain-for-trucking-companies-morgan-stanley-says

U.S. Xpress’ Fuller joining nonprofit focused on sustainable mobility

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Just a few weeks after announcing the sale of U.S. Xpress to Knight-Swift, the outgoing CEO at USX...

https://www.freightwaves.com/news/u-s-xpress-fuller-joining-nonprofit-focused-on-sustainable-mobility

U.S. Xpress lays off staff, reports significant loss to SEC

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U.S. Xpress, on the verge of being acquired by Knight-Swift, recently laid off about 150 employees...

https://www.freightwaves.com/news/u-s-xpress-lays-off-staff-reports-significant-loss-to-sec

Knight-Swift sigue al acecho de las fusiones y adquisiciones y busca objetivos de LTL 

La última adquisición de Knight-Swift Transportation es una pequeña inversión de las iniciativas recientes, que fueron diseñadas para diluir parte de la ciclicidad inherente a ser un transportador de carga por carretera. Dichas acciones incluían la adquisición de activos de carga inferior a la de camión y la creación de una oferta de corretaje exclusivamente de energía. 

El martes, Knight-Swift (NYSE: KNX), el mayor transportador TL del país, anunció que adquirirá a U.S. Xpress  (NYSE: USX),...

https://www.freightwaves.com/news/knight-swift-sigue-al-acecho-de-las-fusiones-y-adquisiciones-y-busca-objetivos-de-ltl

Knight-Swift to remain on M&A prowl, still looking at LTL targets

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Knight-Swift Transportation’s latest acquisition is a bit of a reversal from recent initiatives,...

La lucha de varios años de U.S. Xpress termina con la adquisición por Knight-Swift

El declive financiero de varios años del transportador de cargas completas U.S. Xpress está llegando a su fin con el anuncio el martes de que va a ser comprado por Knight-Swift con una prima significativa sobre el precio de cierre de las acciones de la compañía el lunes. 

En una de las mayores ventas de la historia, Knight-Swift (NYSE: KNX) ha anunciado que pagará 808 millones de dólares por U.S. Xpress (NYSE: USX). El precio es de 6,15 $ por acción. Las acciones de U.S. Xpress cerraron el lunes...

https://www.freightwaves.com/news/la-lucha-de-varios-anos-de-u-s-xpress-termina-con-la-adquisicion-por-knight-swift

U.S. Xpress’ multiyear struggle ends with acquisition by Knight-Swift

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The multiyear decline in the financial fortunes of truckload carrier U.S. Xpress is coming to an end...

https://www.freightwaves.com/news/breaking-news-u-s-xpress-being-acquired-by-knight-swift

‘Crunch time’ for trucking as Q1 nears close

In a Monday note to clients, which described current truckload fundamentals as very difficult, Deutsche Bank analyst Amit Mehrotra said he doesn’t expect any “big negative surprises” when transportation companies report earnings next month.  

However, he acknowledged the industry consensus formed in recent months that trucking companies would see a positive demand inflection in the back half of 2023 is becoming less certain.

“We view the upcoming earnings season as one of the most consequential...

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

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