You know, there are many startup founders who are just incredible people who say okay, where's a really big market ready for disruption? I wanted to ask on the guidance commentary around the rate assumptions for the back half of the year. We have discovered several genes that control plant architecture by exerting an influence on stem cells. While rail service remains a challenge, we did see meaningful improvements in street and rail velocity in many corridors. Knight-Swift Transportation Holdings Inc. (KNX). Daniel Hochman. In addition to this strategic acquisitions, we continue to improve our core truckload business and our existing assets to generate additional revenue. I believe that technology innovation by brilliant minds leads to awesome user experience. The chart on the right highlights the percentage of revenue during the second quarter of 2022 from each of our four segments, as well as the percentage of revenue from our other services, which include our rapidly growing insurance, equipment and maintenance, equipment leasing and warehouse services. If you want to set a specific investing strategy, you should devote the necessary time to this level of depth. Look at how our businesses perform relative to kind of what it's been like for the smaller carriers in the broader irregular route market, particularly those that were overly reliant on spot business. Tractors, very similar. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. Im married with 7 children and enjoy reading history and science. So historically, we've said that broader economic GDP demand moves in tens of basis points, but supply seems to swing in the hundreds of basis points. Premium Portfolio What's your best sense of how this evolves? 1. 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. We expect that demand may moderate as the consumer digests and deals with higher inflation and uncertainty in the economy. My hobbies include reading history and tormenting my children with terrible dad jokes. These estimates represent management's best estimates based on current information available. I am not receiving compensation for it (other than from Seeking Alpha). Okay. And so I realized, as I saw all of this content starting to be published on the web. And number three, to provide these services in a way that benefits the relationship that we have with small carriers as we build a much, much larger network using their power with our trailers and freight network. Overview. VP HR. And it sounds like maybe even an expectation that rates will be somewhat stable sequentially. I love writing, spreadsheets, user experience, and strategy. So we'll try and do our best to answer that. Many of these services are branded under our brand of Iron Truck Services. These factors contributed to a 39.2% increase in revenue per load, partially offset by a 17.2% decrease in load count. Powered by the wisdom and diversity of crowdsourcing, millions of investors connect to discover and share investing ideas, discuss. And it's really because our customers are still uncertain. And so, I think that that has led usthat has led us to have some more consistency and then a little bit more durable through even the 2019 negative cycle. Seeking Alpha is an investment research platform designed for intermediate to advanced investors who want cost-efficient, impartial, and quantitative information. Founded in 2004 by David Jackson, Seeking Alpha is a crowdsourced investment research platform. So we have that going on as a backdrop that is different than any cycle prior to 2018. Accessibility: 4/5. And then we talk a lot about sort of trough earnings and what we think we can do and clearly the non-truckload pieces of business are performing. Thanks, Dave. And so I would say that LTL has got ways to go. David Jackson. David Jackson, Seeking Alpha's founder, recently directed readers to an article titled "New Highs, New Lows, Yield Greed" by David Merkel that he felt was important, and that subsequently generated a lively comment thread. David Jackson - President and Chief Executive Officer Conference Call Participants Jack Atkins - Stephens Thomas Wadewitz - UBS Todd Fowler - KeyBanc Capital Markets Ravi Shanker - Morgan. In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. DAIA 10 bh133300 3m (10bh133300) 3m (10bh133300) In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. And we still see some of that today even when supply is a little bit looser. Start Your Seeking Alpha Premium Free Trial. And so, there's all kinds of cost savings. There is no headhaul, backhaul, it's the same. What's the most efficient way to help a small carrier reduce their empty miles in a $5 plus diesel fuel environment and what's the best way to save the supply chains? Our strategy continues to focus on diversifying our business, while improving both margin and revenue in each segment. Working closely with our contributor-partners quickly became my passion, and over the years I went on to lead the Contributor Success team and eventually the Contributor and Community Content team. As spot rates have declined, we have increased commitment levels with our customers and have reduced our exposure to the spot market. This is a result of a more difficult comparison rather than rates meaningfully declining sequentially. Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. If you have an ad-blocker enabled you may be blocked from proceeding. Password. Thank you, Sylvie. We expect tractor count to remain stable throughout the year with maybe a modest sequential improvement in the miles per tractor as we improve our seeded truck count. But for the jury there the whole system ends up being really unbiased, and so that's the philosophy of Seeking Alpha. Since the 2017 Swift merger, we have invested $1.6 billion in acquisitions, making acquisitions remains a high priority for us. But I think sequentially we'd expect rates to be stable. Here it is. This may result in rates turning negative year-over-year late in the third quarter and continuing into the fourth quarter. We have slides to accompany this call that are posted on our investor website. 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. And that simply isn't an option that's available. Yeah. And Adam, I understand your comment that it's mostly difficult compares. And your next question will be from Bert Subin at Stifel. 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. The nurturing of so-called community with free content and social media aspects built site participation and popularity. Our adjusted earnings per share came in at $1.41. And we have untapped leverage within the trailer pools than the whole trailer fleet that we have. By using this site, you agree to the . And then also not looking for guidance, but any thoughts on how contract rates will progress into 2023, just given where the spot market is right now? Click on "link portfolio" to sync your brokerage account by using Plaid. And every quarter that goes by that they get bigger, that OR gets better, and it's a larger percentage of the earnings, our business gets de risked because of the consistency of LTL earnings over time. We do over for a backup where we contract with a customer where any type of freight that falls out just flows to our power-only business and we're able to support them there. Thanks for that question, Jack. Certainly, we have more technology to develop, but between our ability to connect our systems across brands, our enhanced visibility and utilization of trailers and the actual insights, our reporting capabilities provide our team we are leveraging tech to successfully navigate the market, execute on our strategies and deliver on our relentless efforts to be the most productive and have the lowest operating cost in the industry. And so, because it's so punitive and prior to the electronic log mandate just a few years ago, it was not enforced and carriers just absorb that. It is carefully vetted by in-house editors, then read and debated by millions of people. Hey, good afternoon, and thank you for taking my questions. David Jackson, Seeking Alpha Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Daybreak Australia Bloomberg Daybreak Australia. The industry norms since electronic logs were mandated and enforcement began in early part of 2018 the industry standard is that you get two hours. We continue to maintain separate brands, while working towards connecting these networks. Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. So what you're seeing is, you're seeing us tap into operating leverage that we have, that we uniquely have, because we're more than twice the size of the next closest in terms of trailer fleet. And then, when you read the article, you can say, oh well this person owns the stock. 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. The larger carriers, we have been moving towards trailer pools for many years, because it makes us more efficient. Recruiting and retaining drivers continues to be a challenge, but we are seeing improvements sequentially in our ability to recruit drivers. Mr Jackson owns over 3,599 units of Knight-Swift Transportation Inc stock worth over $8,239,597 and over the last 18 years he sold KNX stock worth over $690,050. It's not, okay, we're going to put our heart and soul into LTL and we're going to forget about full truckload. For the quarter, we had a 91.8% increase in revenue and a 615% increase in operating income. No, that's just our employees. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. And so, small trucking companies, it was a huge boom to them even though a lot of the country was shut down due to COVID, they had this huge lifeline that kept them along. Slide four illustrates the revenue and margin contributions for the second quarter and year to date periods for each of our segments. Where Is the contrary opinion? When I started Seeking Alpha it was, we gotta get you all the assets. And what I realized was, it's going to be incredibly valuable to aggregate this and to filter it, because there's lots of risk for manipulation. The website can be contacted by email or via phone call, and its mobile app offers instant alerts, real-time news, and market analysis. Prior to that, I worked at an international department of a leading law firm counseling a range of tech companies and venture capital funds. We continue to invest in our already industry leading trailer network, which grew sequentially by 1,700 trailers to just over 73,000 trailers. So I think that will, obviously, impact the year-over-year change. 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