Knight Transportation’s first-quarter earnings rose 26% to $19.1 million, or 23 cents per share, powered by stronger rates.
The Phoenix-based truckload carrier’s revenue per mile per tractor rose 4.9%, helping to boost revenue 5.8% to $249.2 million.
In the year-earlier period, Knight reported net income of $15.2 million, or 19 cents per share, and revenue of $235.4 million.
“We experienced greater demand for our capacity as well as a stronger used equipment market,” said CEO Kevin Knight in a statement.
“Our improved performance was a result of our focus on improving production, recruiting and developing driving associates . . . intensifying our cost-control efforts and realizing the benefits of a solid used equipment market,” he said.
Knight is ranked No. 31 on the Transport Topics Top 100 listing of the largest U.S. and Canadian for-hire carriers.