Knight-Swift

Knight-Swift misses Q3 mark, dials back near-term outlook

A red Knight-Swift tractor on the highway

Knight-Swift Transportation missed third-quarter earnings expectations Wednesday and lowered its outlook for the rest of the year.

Knight-Swift (NYSE: KNX) posted adjusted earnings per share of $1.27, 5 cents light of consensus and 3 cents lower year over year (y/y). The company now expects full-year adjusted EPS of $5.17 to $5.22 compared to the prior guide of $5.30 to $5.45 and the consensus estimate of $5.39 at the time of the print. Softening freight fundamentals and a “muted peak season”...

https://www.freightwaves.com/news/knight-swift-misses-q3-mark-dials-back-near-term-outlook

Los grandes transportadores de camiones dicen que la reciente caída no les perjudica

A tractor-trailer with the logo of Knight Transportation drives on a road with storm clouds and a rainbow behind it, illustrating a downturn in the trucking industry.

Mientras que una serie de datos desfavorables sobre el transporte de mercancías aparecieron al final del primer trimestre, con líneas de tendencia que disminuyen aún más para comenzar el segundo trimestre, muchos ejecutivos de las mayores empresas de transporte por carretera del país están presentando una perspectiva mucho más halagüeña de lo que los datos sugieren. Durante la temporada de resultados del primer trimestre, los equipos de dirección de las empresas de transporte que cotizan en...

https://www.freightwaves.com/news/los-grandes-transportadores-de-camiones-dicen-que-la-reciente-caida-no-les-perjudica

Trucking: Cowen cuts estimates over ‘growing concerns for carriers’

Cowen lowers estimates ahead of Q1 earnings season

Incremental capacity, cooling demand and plummeting spot rates were the catalysts for another analyst to reel in expectations for trucking companies. On Thursday, Cowen’s Jason Seidl lowered earnings estimates for the truckload and less-than-truckload carriers he follows heading into the first-quarter earnings season, which starts Monday.

He advised clients to favor large-cap TL carriers versus the smaller carriers, downgrading Covenant Logistics Group (NASDAQ: CVLG) to “market perform” from...

https://www.freightwaves.com/news/trucking-cowen-cuts-estimates-over-growing-concerns-for-carriers

Knight-Swift sees big Q4, expects hypergrowth to moderate in 2022

Growth rates to moderate in 2022

Knight-Swift Transportation saw financial results improve across all four of its segments during the fourth quarter. Most notable may be the sub-75% adjusted operating ratio it recorded in its truckload segment. Significantly higher rates and gains on equipment sales were the drivers.

Knight-Swift (NYSE: KNX) reported a big headline earnings beat Wednesday. Adjusted earnings per share for the fourth quarter were $1.61, well ahead of the $1.43 consensus estimate and more than 70% higher...

https://www.freightwaves.com/news/knight-swift-sees-big-q4-expects-hypergrowth-to-moderate-in-2022

FreightWaves Ratings unveils inaugural Top 500 for-hire list

It doesn’t take an expert to know the trucking industry tends to rely too heavily on its legacy roots. After all, for a business sector absolutely dependent on speed and efficiency, it sure has taken a while for it to arrive in the 21st century.

FreightWaves is committed to being an agent of change. With our new rankings lists and directories, we hope to add context and visibility to each segment of the industry. 

The inaugural Top 500 list of the largest U.S.-based for-hire trucking fleets —...

https://www.freightwaves.com/news/freightwaves-ratings-unveils-inaugural-top-500-for-hire-list

Loaded and Rolling: Investment conference equipment highlights, Knight-Swift acquires MME, transportation unemployment falls

Stephens investment conference trucking equipment highlights
(Photo: Jim Allen/FreightWaves)

Supply chain challenges were the main focus at the Stephens annual investment conference earlier this month in Nashville, Tennessee. Executives said driver recruiting and broader supply chain bottlenecks were slightly easing, but purchasing and procuring equipment has gotten notably tougher. 

Lack of trailers becoming new driver shortage:

  • Derek Leathers, chairman, president and CEO of Werner, said...

https://www.freightwaves.com/news/loaded-and-rolling-investment-conference-equipment-highlights-knight-swift-acquires-mme-transportation-unemployment-falls

Knight-Swift builds out LTL network with $150M acquisition of MME

LTL networks in high demand

Knight-Swift Transportation (NYSE: KNX) announced Monday further expansion into the less-than-truckload market. The carrier acquired RAC MME Holdings, parent of LTL carrier Midwest Motor Express and truckload carrier Midnite Express, for $150 million in cash.

Bismarck, North Dakota -based Midwest Motor Express was founded in 1918 and operates 33 terminals (800 doors) throughout the Upper Midwest and Northwest. Through carrier partners like Pitt Ohio, Saia (NASDAQ: SAIA) and Southeastern Freight...

https://www.freightwaves.com/news/knight-swift-builds-out-ltl-network-with-150m-acquisition-of-mme

‘Don’t sweat’ big gains on equipment sales booked by carriers in Q3

Carriers rack up huge gains on asset sales in third quarter

Many records were set by truckload carriers during the third quarter, including a line on the income statement often overlooked by industry observers: gains on sale. With truck demand at record levels and new equipment tough to find, values in the secondary market have soared and so too have the gains fleets are booking as they swap out old tractors for new.

Gains on the sale of revenue equipment, normally booked as an offset to operating expenses on the P&L, were some of the highest seen for...

https://www.freightwaves.com/news/dont-sweat-big-gains-on-equipment-sales-booked-by-carriers-in-q3

Embark Trucks tallies 14,200 prelaunch reservations for driverless software

SPAC-sponsored autonomous trucking software developer Embark Trucks expects to exceed its first-year revenue target based on 14,200 reservations it has collected from partner carriers including Knight-Swift and Anheuser-Busch. 

The reservations more than double the 6,775 reservations that competitor TuSimple Holdings reported through the second quarter for the autonomous International LT Class 8 truck it is developing with Navistar. TuSimple took a $500 deposit on each reservation. Embark is...

https://www.freightwaves.com/news/embark-trucks-tallies-14200-prelaunch-reservations-for-driverless-software

What is power-only truck brokerage?

Power-only brokerage gaining share

Power-only truck brokerage involves a load that requires only horsepower — a tractor or truck to move it. For these shipments, the shipper has procured a trailer or already owns one. Or the carrier leases a trailer from an affiliated third-party pool and simply picks it up loaded from a shipper facility and hauls it to a destination.

The offering is advantageous to carriers as a driver can arrive at a facility and hook a preloaded trailer without waiting at the dock. There’s also flexibility for...

https://www.freightwaves.com/news/what-is-power-only-truck-brokerage

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