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Truckload carrier Knight-Swift Transportation Tuesday reported the biggest gain in earnings seen so far this earnings season, while third-party logistics provider C.H Robinson Worldwide reported a more modest increase in profits.
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Truckload and logistics provider Knight-Swift Transportation Holdings Inc. released third quarter earnings on Monday that showed a big drop in profit compared to a year ago, but the numbers do not paint an entirely accurate picture following the merger of the two truckload companies.
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The mega-merger of Knight Transportation and Swift Transportation has moved a step closer to completion with the Federal Trade Commission granting its approval.
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Profits for two trucking operations in the first quarter of the year fell dramatically, both saying they battled a tough pricing environment and excess capacity.
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Executive Editor David Cullen says if any two companies were made for each other, Knight Transportation and Swift Transportation were. After plowing through the transcript of the conference call held for analysts to disclose the impending birth of a new trucking behemoth — Knight-Swift Transportation Holdings Inc. — he explains why in his Passing Zone blog.
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