Knight-Swift Transportation Holdings is growing its profits through more efficient operations, rather than by adding trucks to increase capacity, as it reported fourth-quarter 2018 results that were better than analysts expected, especially in Swift Truckload.
Trucking fleets Old Dominion, Covenant Transport, and Knight Swift all reported higher profits for the second quarter.
A load of publicly held trucking fleets released first quarter 2018 earnings – Forward Air, Knight-Swift, Landstar, Covenant, Echo Global, and Heartland – with all but one reporting better numbers than the same time a year ago.
Knight Transportation, a wholly owned subsidiary of Knight-Swift Holdings, has acquired all of the assets of Abilene Motor Express and related entities, according to a Securities and Exchange Commission filing.
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.
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.
The mega-merger of Knight Transportation and Swift Transportation has moved a step closer to completion with the Federal Trade Commission granting its approval.
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.
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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