Knight Transportation Second Quarter 2015 Revenue and Earnings Up

Knight Transportation, Inc. (NYSE: KNX), one of North America’s largest and most diversified truckload transportation companies, today reported revenue and net income for the second quarter and six months ended June 30, 2015.

Key financial highlights for the second quarter ending June 30 were as follows:

• Revenues up 22.7% to $268,623,000
• Trucking up 24.2% to $212,368,000
• Operating income up 25.4% to $38,899,000

Dave Jackson, President and Chief Executive Officer, commented on the quarter, “During the second quarter we continued to successfully execute our internal initiatives to grow our business, improve margins, and drive operational efficiencies. We grew our consolidated revenue, excluding trucking fuel surcharge, by 22.7% while improving our adjusted operating income by 25.4%. Both our trucking and logistics segments contributed to our growth as we continue to expand our service offerings to meet the ever-changing supply chain needs of our customers.”

“In the second quarter, the trucking segment adjusted operating ratio improved to 78.8% from 79.0% for the same quarter last year. The trucking segment experienced revenue growth, excluding trucking fuel surcharge, of 24.2% while improving adjusted operating income by 25.8%. Despite less transactional customer demand, we continue to experience positive results from our efforts to improve yield. Revenue per tractor, excluding fuel surcharge, increased 2.7%, year over year, attributable to a 6.7% improvement in revenue per loaded mile, a 2.6% increase in length of haul, off-set by a 1.4% decrease in average miles per tractor, and an increase in our non-paid empty mile percentage,” he added.

The company noted that its “tractor fleet remains one of the most modern fleets in the industry with an average age of 1.7 years.”

Category: General Update