AAA Cooper | Knight Swift 3rd Qtr Results

[ltltrkr]

Knight-Swift sees inflection coming, beats lowered Q3 expectations

Knight-Swift Transportation beat lowered third-quarter expectations Thursday and said the market appears close to a tipping point.

www.freightwaves.com

The less-than-truckload unit saw a 7% y/y increase in revenue excluding fuel surcharges. Shipments per day increased 5% and revenue per shipment (excluding fuel) was up 10%. The OR slipped just 40 bps to 84.9%. Annual wage increases and incremental costs incurred taking on more freight were headwinds to the margin.

Management said “volumes built throughout the quarter” due to Yellow’s exit. Looking forward, it expects the unit to see a mid-teen y/y increase in revenue during the fourth quarter as shipments and yield grow by high-single digits.

 

[Dick Dastardly]

I wonder who they’re buying next?

 

[cityman]

I wonder who they’re buying next?

Have been trying to purchase Ward Trucking. I guess they have not offered enough yet

 

[DMT]

Read they tried Dayton and Pitt and were turned down

 

[ltltrkr]

Read they tried Dayton and Pitt and were turned down

Ward is their only hope unless they do it organically 1 terminal at a time

 

[steercrazee]

Ward is their only hope unless they do it organically 1 terminal at a time

Kind of wish all these big mega companies would quit buying up all they can. Competition is good. Its good to have choices and hopefully keep majority of the companies within close range as far as pay and benefits.