Knight Reports Record First-Quarter Earnings, Revenue

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ruckload carrier Knight Transportation reported a record first-quarter profit of $15.8 million or 18 cents a share, up from $12.8 million or 15 cents a year earlier.

First-quarter revenue rose 22% to $149 million, also a record, the company said late Wednesday.

Knight said the per-share results reflected its 3-for-2 stock split on Dec. 23. (Click here for previous coverage.)

“During the fourth quarter our revenue growth was driven by a combination of fleet expansion and increased revenue per mile,” Chairman and Chief Executive Officer Kevin Knight said in a statement.

The company said it purchased 329 new tractors in the quarter, 266 of which were replacements and 63 for expansion. It also bought 324 new trailers, including 243 replacements.

Knight is ranked No. 49 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.