Knight Transportation profit falls on weak pricing - Truckers' Trucking Forum

rookietrucker · **^ Top** #1 10.23.2009

Knight Transportation profit falls on weak pricing

Quote:

PHOENIX — Knight Transportation Inc. said Wednesday its third-quarter profit fell 18 percent as weak consumer spending continues to hurt freight markets, and the trucking firm warned that demand isn’t picking up fast enough to support price increases.

Net income for the three months ended Sept. 30 slipped to $13.1 million, or 16 cents a share, from $16 million, or 19 cents per share, a year earlier. Revenue fell 17 percent to $173.1 million from $209.7 million a year earlier.

Profit matched expectations of analysts surveyed by Thomson Reuters, while revenue topped the average forecast of $164.6 million.

The company said it grew the number of loads it hauled in the quarter by 10.2 percent year-over-year. But while it has seen a modest, steady increase in volumes as the year has progresses, freight demand is still too weak to justify raising rates -- which is hurting revenue.

more here>> Knight Transportation profit falls on weak pricing

jtrnr1951 · **^ Top** #2 10.23.2009

They should, and will, blame all of this on truckerdave !!!!!

truckerdave1970 · **^ Top** #3 10.23.2009

I'm sure it had nothing to do with losing OVER 150 DRIVERS last month (according to a reliable source in the company), or the fact that they handicapped the rest of us with this logbook garbage and we cant deliver our customers freight on time anymore! It cant be because we are losing customers and contracts faster than we can underbid other companies and steal their freight!
You are right, they will probably blame it on me!

Sad_Panda · **^ Top** #4 10.23.2009

Just wait! They are cutting the speeds back now too!

jtrnr1951 · **^ Top** #5 10.23.2009

How Low can they go???

Sad_Panda · **^ Top** #6 10.23.2009

Quote:

Originally Posted by jtrnr1951

How Low can they go???

60 miles per hours.

Not joking.

truckerdave1970 · **^ Top** #7 10.23.2009

That makes sense! Take away the ability to work a lille longer and then take the ability to work faster too! I know how Knight could save a bunch of money. Let's park the whole damn fleet and just become a broker and give someone else all the freight!

Sad_Panda · **^ Top** #8 10.23.2009

Quote:

Originally Posted by truckerdave1970

That makes sense! Take away the ability to work a lille longer and then take the ability to work faster too! I know how Knight could save a bunch of money. Let's park the whole damn fleet and just become a broker and give someone else all the freight!

Yeap. I lost 500 miles a week I can run and am completely run ragged. I can not believe how dangerous this truck is now, and dare I say it, I am wondering if Swift drivers really aren't that bad, it's being stuck at such a slow speed people take huge risks to get around you.

3.14 · **^ Top** #9 10.24.2009

Quote:

Originally Posted by Sad_Panda

60 miles per hours.

Not joking.

i just finished a slip-seating in another truck that does 70mph. life was somewhat okay in that truck. the previous driver was a total pig, though, and i could NOT get the disgusting pig man, cheese stink out of that truck. plus the suspension is shot to hell. every single bump on the ultra smooth i-5 between the grapevine and san diego was pure heaven.

i don't think profits are falling due to the super fantastic planning at knight. it's the fault of ALL THE DRIVERS!

Sad_Panda · **^ Top** #10 10.24.2009

Quote:

Originally Posted by 3.14

i just finished a slip-seating in another truck that does 70mph. life was somewhat okay in that truck. the previous driver was a total pig, though, and i could NOT get the disgusting pig man, cheese stink out of that truck. plus the suspension is shot to hell. every single bump on the ultra smooth i-5 between the grapevine and san diego was pure heaven.

i don't think profits are falling due to the super fantastic planning at knight. it's the fault of ALL THE DRIVERS!

I'm on a restart, my DM wrote it down in the computer.

I keep getting loads sent to the truck.

Screw it, I'm going to restart my restart!

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