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April 23, 2014 11:30 AM, EDT
Knight Transportation’s 1Q Earnings Jump 26%
Bruce Harmon/Trans Pixs

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.