Knight Transportation Increases First Quarter Earnings Guidance

Knight Transportation, Inc. (NYSE: KNX), one of North America’s largest and most diversified truckload transportation companies, has provided an update on its guidance for first quarter of 2014.

Based on preliminary results, Knight expects earnings per diluted share will range from: $0.22 to $0.23 for its first quarter ending March 31, 2013, compared with its prior estimates of $0.19 to $0.21 and 2013 first quarter earnings per diluted share of $0.19.

Chairman and Chief Executive Officer Kevin P. Knight commented: ”There are several factors that contributed to our expectation of improved results for the first quarter of 2014. During the quarter we experienced greater demand for our capacity.

“This resulted in year over year improvement in revenue per tractor and growth in our brokerage business. We have also seen strength in the used equipment marketplace, which is resulting in better than expected gain on sale of tractors and trailers. As the trucking environment remains strong we continue to focus on improving production, growing our non-asset based businesses, recruiting and developing driving associates, providing industry-leading service, and intensifying our cost control efforts.”

The company expects to release its 2014 first quarter earnings on April 23rd, shortly before market open.

Category: General Update