Knight-Swift

Truckload carrier stocks have held up through the last six trading sessions, walking through a couple of potential body blows.

Knight-Swift Transportation reported adjusted earnings per share that were ahead of analysts’ expectations. FreightWaves was able to speak with David A. Jackson, Knight-Swift Transportation’s President and Chief Executive Officer.

Knight-Swift Transportation Holdings, Inc. (NYSE: KNX) reported first quarter 2019 adjusted earnings of $0.55 per share compared to analysts’ expectations of $0.52 per share.

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The operating ratio in every trucking segment of the company was improved and its outlook for 2019 is solid also.

Investors may be starting to come around to the idea that truckload carriers have another year of strong margins ahead of them.

The company’s stock took it on the chin for much of 2018 but the company said it had a strong fourth quarter.

Everyone knew the quarter was weaker than it had been. The question is how much. Stock prices have reflected a significant slowdown.

Initiative aims to keep good but rejected food out of landfills and onto plates.

Investment bank Stifel Nicolaus (NYSE: SF) thinks that publicly-traded truckload stocks are now an attractive buy, with higher earnings available at reasonable valuations. That’s just one takeaway from a raft of research released this week by Stifel and Morgan Stanley (NYSE: MS) as the banks look forward to what next year holds for transportation. 

The Swift program will offer courses through Southern New Hampshire University.

Also today: going to jail for bogus CDLs; ecommerce driving the Canada Post labor dispute.

Some of the stocks that were getting hammered at midday recovered on the back of the broader market rebound by the close. One exception: Ryder.

There’s no particular pattern in seeing which stocks have declined significantly more than the drop in the overall S&P 500 index.

Knight-Swift Transportation reported strong earnings on Wednesday, and it was immediately met with praise from Morgan Stanley analyst Ravi Shanker, who wrote in a note that the company’s stock is a “relative buy, at worst, in our view.”

The investment bank issued a report this morning calling for one more spot rate peak in the fourth quarter, followed by a softer 2019 that should still be 12% above the 2012-7 cycle. New price targets were also issued.

Transportation stocks show gains ahead of Florence’s landfall

We visualized the performance metrics of the publicly-traded truckload carriers over the past six quarters, using TCA InGauge’s data.

Knight-Swift Transportation Holdings (NYSE: KNX) reported revenue growth and rising income across much of the company, with the notable exception of Swift’s refrigerated segment, during its second quarter 2018 earnings call.

There is a fear on the part of some investors in the trucking space that a peak may have been reached.

Earnings season is here; UPS posts 13th quarter of double digit growth; Knight-Swift finds synergies; Maersk trials autonomous ships; the Mustang is the last Ford car left; Barclays and Goldman Sachs collab on data standards for derivatives and blockchain; Union Pacific beats the Street.

Knight-Swift’s revenues stabilized despite fewer trucks and shorter length of haul, and the two brands managed to increase their efficiency and improve operating ratios.

Transport stocks outperforming broader economy; FedEx adds robots to distribution centers; Knight-Swift picks up a 400 truck fleet; CMA CGM turned around in 2017; Union Pacific’s drones monitoring workers cause union trouble. 

The Richmond-based carrier was privately held with approximately $100 million in revenue.

Knight Trucking put 20% of its capacity on the spot market in Q4 2017 and it paid off big. Swift has also been improving its operations, and management said it will focus on fixing its reefer business in 2018.