Knight Transportation Revenues and Earning Drop
Knight Transportation, Inc. one of North America’s largest and most diversified truckload transportation companies, today reported lower revenue and net income for the fourth quarter ended December 31, 2016 and the full-year period of 2016.
Revenues for the quarter ending in December 2016 were $289,098,000 — down 0.6%. Net income for the same period dropped approximately 24%. For the full year of 2016, total revenue was $1.183 billion, down 5.5% and net income was down nearly 20%.
Dave Jackson, President and Chief Executive Officer, commented on the quarter, “The freight environment continues to show signs of improvement as we experienced more non-contract opportunities during the fourth quarter of 2016 when compared to the same quarter last year. This resulted in continued year over year improvements in average miles per tractor and brokerage load count. Although our revenue per total mile continued to be down year over year, we experienced stronger sequential revenue per total mile growth from third quarter to fourth quarter this year when compared to the same period last year.”
He added, “With declining new truck orders, a weak used equipment market, and additional regulatory burdens expected to phase in during 2017, we expect continued improvement in the supply/demand relationship in the coming quarters.”
Category: General Update
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