Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
4/14/2014 11:00:00 AM Write a Letter to the Editor Write a letter to the Editor

Knight Says 1Q Earnings Higher Than Forecast


Bruce Harmon/Trans Pixs

Knight Transportation Inc. said in a preliminary first-quarter earnings statement that its profit for the period exceeded an earlier forecast, reaching 22 to 23 cents per share, as demand and rates improved.

The truckload carrier’s results exceeded its earlier guidance of 19 to 21 cents per share and last year’s first-quarter EPS of 19 cents.

Based on the company’s latest regulatory report, net income was as much as $18.5 million, or more than 20% above the $15.2 million in last year’s first quarter.

“During the quarter, we experienced greater demand for our capacity,” CEO Kevin Knight said in a statement. “This resulted in year-over-year improvement in revenue per tractor and growth in our brokerage business. We have also seen strength in the used-equipment marketplace.”

“As the trucking environment remains strong, we continue to focus on improving production, growing our non-asset based businesses, recruiting and developing driving associates,” Knight added.

Phoenix-based Knight, which is scheduled to release its earnings April 23, ranks No. 31 on the Transport Topics Top 100 listing of the largest U.S. and Canadian for-hire carriers.

By Rip Watson
Senior Reporter

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2014, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

TFM

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement