I guess, the takeaway, I guess, I'm getting to some extent is, it feels like maybe this, I guess, every cycle is different and certainly Dave you made a good point about why this might be different than previous cycles. Okay. And then we ask that you please disconnect your lines. And it sounds like maybe even an expectation that rates will be somewhat stable sequentially. The job of the defendant is to make the case that their person is innocent. So for example, you've got the electronic logs. The larger carriers, we have been moving towards trailer pools for many years, because it makes us more efficient. I am a qualified attorney in Israel and New York. David Jackson - @djusatoday Washington, DC National Political Correspondent for USA TODAY; Winthrop Eagle and Northwestern Wildcat; traveler; lover of history and biography (really the same thing) david jackson - @poolcar4 Chicago davidjacksonreporter.com And you saw a need, or did this happen as a result of, you are a techie. Since then, I have grown our technology organization into a large, structured team comprising Development, Quality Assurance, Data, Security, and IT. When you say 200 hundred people, is that all the writers? Don't treat them as people who need to be told what to do. These results reflect our focus on; one, growing our less asset intensive businesses; two, acquiring and improving businesses; and three, expanding margins in existing operations. Ladies and gentlemen, this does indeed conclude today's conference. These new and expanded services along with warehousing and equipment leasing have nearly quadrupled revenue and is on pace to generate $500 million of revenue this year with projected operating income of over $40 million, compared to a loss of $68 million in 2019. Im passionate about building a product that enriches our subscribers lives, and a platform that provides opportunities for our contributors. And on the last call, you said that in a trough scenario it was difficult to envision EPS below $4, and I'm sort of paraphrasing here. We provide diverse opinions on each stock so that investors can weigh the bull and bear case and make an informed decision.Our news enables investors to understand why the market and the stocks in their portfolio are moving or are about to move. Click the follow button if you like this video so you dont miss any of our future video releases. Our R&D teams deliver cutting-edge technology based on robust processes and best practices, using agile software development methodology. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We are encouraged by the significant contributions from each of our segments. Actual results may differ. Seeking Alpha. We're pleased to report meaningful contributions in earnings from each area as noted on the graph. Yes. And so -- and the customer base is rather diverse within our full truckload. Price: 4.5/5 (Seeking Alpha Premium costs $19.99/month when billed annually, but you can get it for 50% off with . Terms of Use | Market Data Disclaimer | Privacy | Do not sell my personal information. This is a result of a more difficult comparison rather than rates meaningfully declining sequentially. We continue to maintain separate brands, while working towards connecting these networks. . And what you're noticing is we're able to do it in a very high return way on our income statement. We think that there are a whole -- there's a whole another level of synergies that can come as we can corner the entire country in a nationwide operating network behind the scenes with still the individual brands on the front end running the businesses. Is this happening to you frequently? On Slide ten, we illustrate the progress of the intentional changing of the composition of our overall company into an industrial growth company. We love doing a regular route full truckload. I have an LLB from Bar Ilan University in Israel and an LLM from the New York University School of Law. That's very helpful. Click here. Now this slide may be one of my favorite slides for the quarter as our LTL businesses have made significant strides in increasing yield, managing costs and expanding margins. So that would constrain supply. And so, that's just -- and we didn't go into this one with a huge oversupply like we did in 2018 to 2019 or like we did in 2006 to 2007 or like we did in really -- I guess those would be some of the biggest ones we've seen in recent history. David Jackson launched it as a way to offer all investors access to very valuable content, from stocks, mutual funds, and ETFs to cryptocurrencies and commodities. Across all of our brands, we have a tremendous team of drivers, shop technicians and office personnel. I mean we've essentially gone through the bid cycle. And then, when you read the article, you can say, oh well this person owns the stock. Sylvie, we will turn it back to you to conclude. Please disable your ad-blocker and refresh. We haven't quite got to $1 billion, we're on our way to $1 billion a year run rate for that to be the big driver of the earnings for the business. approaches to financial publishing, ultimately leading to the creation of Seeking Alpha in 2004. We've expanded our traditional logistics brokerage, created a power-only service offering, created brand new revenue streams, as have mentioned, with Iron Truck Services and expanded our warehousing services. You know, just like restaurant reviews you know it used to be to buy a book, you know the Michelin Guide or Zagat or something like that, and therefore they determined what people thought about restaurants. There isn't warehousing in between. One of the unique things about what its impact on rates are is in freight rates you have headhaul and backhaul markets. So, Adam, just to clarify though, it doesn't sound like you've got a lot built in for a lot of transactional opportunity into the fourth quarter. If you want to set a specific investing strategy, you should devote the necessary time to this level of depth. Just to make sure that when we refer to power-only, that's understood. For the quarter, we had a 91.8% increase in revenue and a 615% increase in operating income. Because I mean I'll just, I'll just give you one kind of example, which is a lot of what we've been thinking about over the last year. We anticipate that sourcing and retaining drivers will continue as it has been -- continue to improve as we have seen thus far as it has been particularly challenging for small carriers and we are seeing signs of drivers looking for new opportunities. By using this site, you agree to the . Thank you. These factors contributed to a 39.2% increase in revenue per load, partially offset by a 17.2% decrease in load count. And really how the fourth quarter plays out will play a big role in setting the stage for what those changes could look like going forward. Technology has been a meaningful factor in how we've been able to not only significantly grow our logistics business, but do so while expanding margins. It's a huge discount that they only run once a year. After that, then there's a detention charge. Next question will be from Chris Wetherbee at Citi. This may result in rates turning negative year-over-year late in the third quarter and continuing into the fourth quarter. There really isn't much that we haven't hit from our larger customers. Our truckload business continues to run with an operating ratio in the 70s. And for those that are in the queue that we haven't been able to get to your question, feel free to follow-up with us. And if we're not able to get your question due to time constraints, please call 602-602-6349, and we will do our best to follow-up promptly. And your next question will be from Bert Subin at Stifel. Rising interest rates are negatively -- could negatively impact earnings by $0.05 to $0.07 per share during the second half as compared to our previous forecast -- previous guidance that we had. I'm going to start a company there and they do it over and over again, right? But for the jury there the whole system ends up being really unbiased, and so that's the philosophy of Seeking Alpha. I love writing, spreadsheets, user experience, and strategy. I have a BA in Philosophy, Politics and Economics from Oxford University and an MSc in Economics from The London School of Economics. Seeking Alpha New Year's Sale - 83% OFF Seeking Alpha is running a massive 83% discount on their annual premium plan. Our logistics business was in the low 80s and our Intermodal business achieved double digit margins. In the Dec. 31, 2020 announcement, David Jackson, founder and CEO, and Daniel Hochman, vice president of product, wrote that "more than 70,000+ investors have already subscribed to Premium and have unlimited access to all that Seeking Alpha Premium has to offer." [24] See also [ edit] Alpha (finance) Value Line Security analysis Securities research And so, we're fortunate with over $1 billion of free cash flow over the last 12 months that we have opportunities to go in both directions and we can sing and dance, so to speak, at same time and see both of these continue to grow and flourish. Also several additional projects have already begun and are in various stages for 2023 and beyond. On a year-over-year basis, our truckload revenue excluding fuel surcharge grew 11%, while our operating income grew over 22%. Now this concludes our prepared remarks. This revenue growth combined with improvements in gross margin led to $44 million in operating income, which is more than a 200% improvement for the quarter. We are seeing strong demand from our customers to secure trailer pool capacity through our truckload and logistics segments. And when I think about rate sequentially, I think the one wildcard is what does the fourth quarter look like. And so, as a result of that, when you look at the progress made in LTL, for example, I mean, we're well ahead of schedule there. When AAA Cooper joined the KNX family last year, one of our stated goals was to improve the OR performance from the high 80s to the mid-80s over a three year period. There are thousands of contributors. Profitly Login. CTO & COO. I think today we're probably down closer to the mid to low teens in terms of our exposure to the spot market. I focus on accelerating growth through a mix of strategy, developing and managing enterprise partnerships, and corporate development. Service 42. Now, it wasn't nearly as difficult for the big guys, because electronic logs was one of the big reasons why there was the surge in 2018, because people could run less miles and you couldn't double down and run even more miles in an oversupplied environment. You don't know whether they're a criminal, right? First is to introduce new profitable revenue streams with lots of growth runway that further diversify our company. Our customers save them money on paying detention or having to hire extra labor to be at the ready to stop and unload any truck that might roll in within two hours. Book reviews moved to Amazon, right? My career started when I fell in love with coding in high school. Thank you very much for the time guys. Our team continues to act with agility and move with the market. But the good news for us is, we're not in an either/or. At this time, I would like to welcome everyone to the Knight-Swift Transportation Second Quarter 2022 Earnings Call. I appreciate that. And so, that being said, I would say that we've been pleasantly surprised at the magnitude of the synergies that are available in both a large TL that has a few advantages going forward with -- working with LTL. We remain encouraged with the growth and diversification and contribution from the businesses that make up our non-reportable segment. But even at $60 an hour after two hours. So we might have a rate that in a backhaul market that's half the rate of what it is that's Phoenix to LA versus LA to Phoenix, which would be nearly twice the rate. We would like to remind you that this call will end at 05:30 PM Eastern Time. The platform uses crowdsourced ideas from a global pool of investors. Im married with five children, and live in Raanana, Israel. I wrote this article myself, and it expresses my own opinions. Do you foresee a long term ability for that segments OR to ultimately rival your TL segment and to sort of be the driver of your earnings power expansion as we think about future cycles? I was a research analyst for an investment bank in the tech bubble, and I'm not a serial entrepreneur. And analysis articles that focus on a specific stock are still free in the first 10 days. LTL is expected to grow revenue through yield management and shipment growth, while improving margins year-over-year. David Ganek is a man on a mission, a hedge funder who believes he was wronged by an overzealous prosecutor who raided his offices in 2010 and charged the . Our site is the only free, online source for over . In my IDF service, I worked as a liaison to UN forces deployed on the country's northern borders, which inspired a lifelong dream to move to more rural surroundings. This connection is encrypted and private since your credentials will never be made visible to Seeking Alpha. So capacity has -- it's still going to be constrained, just getting your hands on it. Status All 0 Opened Unmarked 0 Active 0 Under review . I wrote this article myself, and it expresses my own opinions. DAIA 10 bh133300 3m (10bh133300) 3m (10bh133300) So Chris, what we -- I think what we would say is, based on 2019 as our most recent example of a down cycle, we saw contract rates hold in there significantly better than broader rates, right? 1. Please go ahead. What caused you to create this thing? We are very encouraged by the LTL results and our conviction for synergy achievement continues to grow. I joined Seeking Alpha in 2014. So just -- our spot exposure. And as we get more clarity around that, the next time we release third quarter, we'll obviously make an adjustment based on what we know then. But now I can read an article by somebody who's bearish on the stock who sold the stock, right? I will now hand it to Adam to finish up with our guidance. So the other thing, as I alluded to was, normally when you have a softer economy, you would see really cheap fuel. Now on to Slide six. Password. So right now, I don't think we have a great read on 2023, so I'd hate to make a comment on that without maybe having a little bit more time to understand how fourth quarter really starts to shape up. And so, every quarter that goes by between now and whenever the bottom of a cycle is, yes, we feel better and better about the trough that that floor continues to rise. Top 3 Results for David Jackson. and industry experts (buy side) rather than sell side. The broader rates look like, peak to trough were down 50%, where contract during that same peak to trough were down 5%. We expect that demand may moderate as the consumer digests and deals with higher inflation and uncertainty in the economy. Well, when you think about -- when you think about the kind of freight that's moving on trucks is by far the most economical way to move still the fast transit times, certainly compared to LTL, airfreight or expedited. Opportunities for our contributors revenue and a 615 % increase in revenue and a platform that provides opportunities for contributors... To conclude Oxford University and an LLM from the New York University of... -- and the customer base is rather diverse within our full truckload is encrypted and private since your credentials never... Back to you to conclude you have headhaul and backhaul markets job of the is! On it have headhaul and backhaul markets ask that you please disconnect your lines | market Data Disclaimer Privacy! % decrease in load count, this does indeed conclude today 's conference there the whole system up. 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