Our adjusted operating ratio of 78.9% was a 200 basis point improvement over the prior year and was the fourth consecutive quarter in the 70s. In many ways as opposed to pulling a tractor out of the line haul business, we're able to support them through third party capacity leveraging trailers in our network. And now, of course, the challenge would be securing enough credit to do so. Daniel Hochman. Just want to clarify that. Recruiting and retaining drivers continues to be a challenge, but we are seeing improvements sequentially in our ability to recruit drivers. I imagine at least partially as a result of fuel and then clearly you had super strong yields there. It's not, okay, we're going to put our heart and soul into LTL and we're going to forget about full truckload. We have pulled some of these containers back into our operations and will continue to do so in 2023. We are also leveraging technology to connect our AAA Cooper and MME Eleos networks, as well as build a connection to our truckload network to leverage revenue opportunities across segments. And it sounds like maybe even an expectation that rates will be somewhat stable sequentially. David Jackson Chief Executive Officer at Seeking Alpha David Jackson is the Chief Executive Officer at Seeking Alpha based in New York, New York. Find David Jackson's articles, email address, contact information, Twitter and more Book reviews moved to Amazon, right? We continue to invest in our already industry leading trailer network, which grew sequentially by 1,700 trailers to just over 73,000 trailers. Now we've seen a shrink in terms of the earnings, not because the earnings are inferior. With Seeking Alpha premium, you can compare seven different stocks at the same time. CCO. Half the team is in Israel and half in Ukraine. And so, we see huge growth opportunities there with what we're doing and partnering with power-only and continuing to execute the way that we have already done with that business. And really how the fourth quarter plays out will play a big role in setting the stage for what those changes could look like going forward. This may result in rates turning negative year-over-year late in the third quarter and continuing into the fourth quarter. DAIA 10 bh133300 3m (10bh133300) 3m (10bh133300) And that process is well underway already. David Jackson Founder & CEO at Seeking Alpha About David Jackson is the founder of Seeking Alpha. VP HR. Great. If I compare that to last year this time will probably be 20% to 25%. In fact, the earnings are phenomenal there. What's your best sense of how this evolves? Today, we plan to discuss topics related to the results of the second quarter, provide an update on current market conditions, and update our full year [2020] (ph) guidance. But even at $60 an hour after two hours. I would also point out that I think maybe it's unfair that we've been painted with a broad stroke that all were truckload and we've great lengths to try and point out the differences that we have, these aren't superficial, these are legitimate earnings streams. Seeking Alpha has a consumer rating of 3.21 stars from 261 reviews indicating that most customers are generally satisfied with their purchases. There really isn't much that we haven't hit from our larger customers. I need to understand how this happened. More recently, we have demonstrated our ability to improve the logistics business and tap into synergies between truckload and LTL. Not to speak about just the economics of how it works for a small carrier. Powered by the wisdom and diversity of crowdsourcing, millions of investors connect to discover and share investing ideas, discuss. Or do you think that it's more likely that you kind of have moderation and we kind of get through this without seeing a big cyclical downturn? So, I wanted to ask on the -- Hi, guys. You can look at our rate per hundred weight at $14.20, excluding fuel, and compare that to some of the industry leaders and what you'll find is, there's some -- there's much bigger rates out there than already what we've achieved. Top 3 Results for David Jackson. We are encouraged by the significant contributions from each of our segments. And so I would say that LTL has got ways to go. Just to make sure that when we refer to power-only, that's understood. We empower investors to make the absolute best investing decisions by leveraging our independent and balanced stock research, fundamental analysis tools, crowdsourced debate, reliable news, and actionable market data.Our research is created by investors, for investors. Yes. Our LTL business showed great improvement and ran the 70s for the first time. There isn't warehousing in between. Im a certified public accountant, and have a BA in Economics and Accounting and an MBA from Tel Aviv University. He started his career as a macro-economist at HM Treasury in London and The Bank of Israel, and later moved to Morgan Stanley in New York as a technology research analyst covering the communications equipment sector. David is related to Sara L Jackson . Despite fewer spot opportunities, our logistics load volumes increased 48.2% year-over-year, with our power-only service offering growing 96.7%. My Seeking Alpha journey began in 2006 as an article editor, recruited by our first Editor in Chief whose enthusiasm for Seeking Alpha was infectious. All the stock advisory services and recommendation previously available . LTL is expected to grow revenue through yield management and shipment growth, while improving margins year-over-year. We also expect LTL demand to remain strong with increases in revenue per hundred weight remaining in the double digits on a year-over-year basis. During the quarter, revenue per tractor grew 11.1%, driven by a 21.2% increase in revenue per loaded mile and a 6.6% decrease in miles per tractor. This revenue growth combined with improvements in gross margin led to $44 million in operating income, which is more than a 200% improvement for the quarter. And so, as a result of that, when you look at the progress made in LTL, for example, I mean, we're well ahead of schedule there. And yes, there's some fuel surcharge benefit, but you've noted the fact that there was meaningful double digit yield improvement. David Jackson launched it as a way to offer all investors access to very valuable content, from stocks, mutual funds, and ETFs to cryptocurrencies and commodities. I am passionate about building and scaling businesses. Is this happening to you frequently? Good afternoon. If you have an ad-blocker enabled you may be blocked from proceeding. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. There's many ways that we approach power-only with our customers. Our logistics business was in the low 80s and our Intermodal business achieved double digit margins. But now I can read an article by somebody who's bearish on the stock who sold the stock, right? Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. Next question will be from Thomas Wadewitz at UBS. I think power-only plays a big role when customers come to us with projects that they need help on in a very short time window. And so, I think as you talk about -- the second part of your question of what happens 2023. My practice focuses on M&As, IPOs, securities laws and commercial transactions, as well as daily consultation to all companys stakeholders. I bring over 14 years of finance experience to Seeking Alpha, in shaping and leading finance operations and teams. And two LTL partners in different parts of the country beginning to work together. And then really leveraging dedicated surge and leveraging power-only to help our dedicated business when we have customers who surge beyond the capacity we've committed to them. David Jackson Founder and CEO. Would you care to kind of update that view here? So just -- our spot exposure. In this review I will tell you how it has performed over the last 6 years, how it compares to Stock Advisor, and let you decide if it is worth it. Here it is. Okay. We would refer you to the Risk Factors section of the company's Annual Report for a discussion of the risks that may affect results. Read More Contact David Jackson's Phone Number and Email Last Update 11/28/2022 5:56 AM Email d***@seekingalpha.com Engage via Email Contact Number I have a BA in Behavioral Science from the University of Ben Gurion and an MBA. What Is Seeking Alpha. Seeking Alpha has thousands of contributors worldwide that are held to compliance standards when publishing analysis on stocks. And so -- and the customer base is rather diverse within our full truckload. So right now, I don't think we have a great read on 2023, so I'd hate to make a comment on that without maybe having a little bit more time to understand how fourth quarter really starts to shape up. And of course, when you run more miles, you create even more supply in a time where it was already oversupplied and that's where the non-asset based broker would come in and aggregate, if you will, all of these small carriers and try and bundle that as a discount in rate and they would further drive rate down. Thanks. I previously served as a Controller at Nice Ltd., a publicly traded company that provides cloud platforms for AI-driven business solutions. We remain encouraged with the growth and diversification and contribution from the businesses that make up our non-reportable segment. 8 JACKIE JACKSON. So, you don't expect people to be unbiased, right? 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. Feb. 18, 2014 -- Investment research website and blogging forum Seeking Alpha is in hot water after an anonymous blogger revealed that billionaire David Einhorn was secretly buying up shares in a tech company. Please go ahead. Is Seeking Alpha Worth Subscribing To? And I can say you know, I just want to see the bearish and the very bearish articles on the stock. Where Is the contrary opinion? Founded in 2004 by David Jackson, Seeking Alpha is a crowdsourced investment research platform. I think today we're probably down closer to the mid to low teens in terms of our exposure to the spot market. Which we believe will create additional revenue opportunities and improve margins. David Jackson Professor Ph.D., University of East Anglia, 1991 jacksond@cshl.edu | 516-367-8467 Jackson Lab Website Faculty Profile My lab studies genes and signals in cells that regulate the growth and shape of plants. Seeking Alpha is the world's largest investing community. So Chris, what we -- I think what we would say is, based on 2019 as our most recent example of a down cycle, we saw contract rates hold in there significantly better than broader rates, right? We expect these services to continue to grow and provide us with income streams that are less prone to volatility through economic cycles. We have committed volumes that run through power-only just with contracted rates, similar to how we would run most of our business on our truckload -- on the asset side. And I think that's why we like this as a nice complement to our core business. The loss reduced both the GAAP earnings per diluted share and the adjusted earnings per share by $0.16. Now on to Slide seven. As these businesses grow and develop, we will evaluate whether it makes sense to aggregate some of these businesses as a separate reportable segment. We have invested in technology that allows us to efficiently leverage our assets throughout multiple segments, including truckload, logistics and LTL. 2. He is from England. Im now Seeking Alphas Chief Technology Officer. I will now hand it to Adam to finish up with our guidance. David Jackson. Our miles per tractor continued to be negatively impacted by our intentional shift to a shorter length of haul and a higher unseated truck count year-over-year. Prior to that, I worked at an international department of a leading law firm counseling a range of tech companies and venture capital funds. Our expansive trailer network allows our customers the ability to optimize thorough our warehouse space and labor costs. So as a result of that, today in the Knight and Swift, nine out of every 10 loads that we haul involves a trailer pool on at least one side, if not both. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. Intermodal margins will remain double digits and we expect to see volumes begin to improve on a year-over-year basis in the third quarter. And maybe there's a reason to think contract rates could kind of bottom out at a much more shallower decline? Slide four illustrates the revenue and margin contributions for the second quarter and year to date periods for each of our segments. Please go ahead. It is carefully vetted by in-house editors, then read and debated by millions of people. Investors read our financial news to gain insight into stocks future earnings and price trajectory, and to find new and exciting opportunities. And good afternoon, everyone and thank you for joining our second quarter 2022 earnings call. They can bring our full truckload of one product, bring that to the dock in exactly the moment that they want to move that trailer or those goods, those palettes on to store deliveries, and they only have to touch the freight one time. And for those that are in the queue that we haven't been able to get to your question, feel free to follow-up with us. Kind of any helpful on where that floor is would be helpful. Our stock coverage is wider and deeper than any other. 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. Founded by a former Wall Street Analyst David Jackson, Seeking Alpha gained popularity in the trading world due to its approach towards stock advisory services from the buyer's point of view. My hobbies include reading history and tormenting my children with terrible dad jokes. Click HERE. And Adam, I understand your comment that it's mostly difficult compares. And so the nature of the freight we haul tends to end up in the grocery store -- tends to end up in a place that's somewhat resilient through cycles. I wrote this article myself, and it expresses my own opinions. Might be back.might not. We found tremendous interest in our offerings from third party carriers that are interested in purchasing insurance and maintaining their equipment in our nationwide shop network or leasing equipment and leveraging our buying power to purchase fuel. These estimates represent management's best estimates based on current information available. Seeking Alpha is the dominant crowdsourced equity research platform, with thousands of contributors, and millions of registered users, monthly uniques, and email alert subscribers. Our truckload business continues to run with an operating ratio in the 70s. I think that the growth in power-only loads this quarter really, I think, will help -- hopefully dispel some concerns that investors might have about that business at a more challenging freight market. Forgot password. I joined Seeking Alpha in June 2021. Labor challenges within the rail network appear to be softening, leading to improved notification times and more consistency for our customers. And you saw a need, or did this happen as a result of, you are a techie. Israel 581 followers 500+. Quality of Research/Analysis: 4.5/5. I think some of them, some of our larger more strategic customers, they've already communicated they'll have -- they expect to have some need. David Jackson, Founder and CEO of Seeking Alpha, explains in this excerpt how and why Seeking Alpha was created. And a case could be made with the kind of the mismatched inventories in many cases that are out there, the lack of warehouse space, the tremendous need for trailers that going into this cycle, there's probably even more value on the nationwide trailer network. If you've been thinking about getting it, there's no better time than right now. And so, very quickly with two extra hours to unload a trailer, you can find yourself with a 30% to 40% increase on many backhaul lane moves. And so they can save themselves from a lot of maintenance costs by getting into another truck. Operating income increased by 143.8% as the operating ratio improved from 95% to 89.3%. And that's all before we get to the dead horse that we keep beating that is, trailers matter, trailers make a difference. This non-reportable segment hasn't been a great focus of analysts or investors over the years, but it is now building as one of our fastest growing segments. Over the years, we've demonstrated our ability to effectively acquire and improve truckload businesses. 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. I think there's some OEMs thats doing a little bit better than others, but still very pressured on being able to deliver on orders. Also several additional projects have already begun and are in various stages for 2023 and beyond. Hey, great. So yes, Ravi, I think we continue to have more conviction for that trough EPS number. The nurturing of so-called community with free content and social media aspects built site participation and popularity. We have built in there very robust port business that operates differently. It's a huge discount that they only run once a year. On the truckload side, we have focused for the last four years on growing our less asset intensive and variable cost based lines of business. We think that there are a whole -- there's a whole another level of synergies that can come as we can corner the entire country in a nationwide operating network behind the scenes with still the individual brands on the front end running the businesses. Year-to-date, we have used cash to increase our dividend to shareholders by 20%, repurchased $300 million worth of shares and paid down $86 million in long-term debt and leases. Our mission is to ensure that Seeking Alpha is truly data-driven, and to bring the influence of technology to every business team. As we make more commitments, we are seeing higher tender acceptance levels and fewer non contract opportunities. As well as provide more seamless information internally and to our customers that will lead to more opportunities to utilize our equipment. All this contributes to Jackson Wang's net . So I guess my question really centers around your power-only and logistics offering. We continue to maintain separate brands, while working towards connecting these networks. I left Morgan Stanley, and immediately started working on Seeking Alpha. We acknowledge that we have less visibility on peak season surge as compared to the previous two years. Europe, Menlo Park, China), Alternate or previous names for the individual, Total number of current Jobs the person has, Organization Name: This is the name of the organization, Title At Company: Title of a Person's Job, Start Date: Start date of the Person's Job, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Number of news articles that reference the Person, London School of Economics and Political Science, M&G European Property Fund embarks on EUR85m French residential project, Billionaires battle for Tribune Publishing, California man guilty of killing 4 in race-related rampage, Texas-Based Choice Homecare Acquires Houston-Based Nextgen Hospice, Kori Muhammad trial: Jury reaches verdict for mass shooter who killed four, Means TV: inside the leftist, worker-owned streaming service, 'Time runs out' for brave boy with tumour so aggressive that chemo won't work. 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. And if we are not unable to answer a question during our call, we will -- you can call us at 602-606-6349. Counted among the most popular K-pop idols, Wang's massive success, both as part of GOT7 and as a solo artist, has earned him worldwide fame, a growing fan following and endorsement deals with major luxury brands. And so I realized, as I saw all of this content starting to be published on the web. Capacity is clearly under pressure. For the quarter, we had a 91.8% increase in revenue and a 615% increase in operating income. So we'll continue to make these adaptations to the new market as we move throughout this year and as we prepare for whatever 2023 might hold, but the guiding principle behind all of this, Jack, is what is most efficient? Well, that's completely unacceptable and would never work within supply chains. Seeking Alpha is another excellent premium subscription service. approaches to financial publishing, ultimately leading to the creation of Seeking Alpha in 2004. Our team continues to act with agility and move with the market. Appreciate it. St. Olaf College Alumni Founded Companies, Deakin University Alumni Founded Companies, Boise State University Alumni Founded Companies, Dartmouth College Alumni Founded Companies, Startup School by Y Combinator Alumni Founded Companies, Vellore Institute of Technology Alumni Founded Companies, Center for Digital Technology and Management, CDTM Alumni Founded Companies, Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. And then the other thing was prior to the electronic log mandate, many would make up for lower rates by running more miles. I wrote this article myself, and it expresses my own opinions. Paul Jelinek. Please go ahead. This has allowed us to make progress towards reducing the number of unseated trucks and slow the reduction in productivity year over year. It is not the same to have one truck and one driver show up that have to be unloaded immediately versus somebody who staged hundreds of trailers at a customer facility and give them all kinds of efficiencies. What we're talking about is us leveraging the 73,000 trailers we have available within for our customers to fill with truckload freight. We are seeing significant improvements in revenue and income growth in each of these areas. I would say, what has made our industry more choppy and more cyclical has been the fact that we grossly oversupply when it's good, and then it takes a little time for that to work off in part, because when the economy starts to sputter just a little bit you see wind at the back of a small carrier to absorb the difficult times by having low energy prices, typically used equipment prices bottom out. View People Contact Information. The whole philosophy of Seeking Alpha is, number 1, treat our readers as intelligent people. Yes. Chris, we're going to answer this in record time, because we're down to -- we're about out of time right now. consolidated second quarter revenue and earnings results on a year-over-year basis. David Ganek: Delivering Alpha Unfiltered. Seeking Alpha is an investment research platform designed for intermediate to advanced investors who want cost-efficient, impartial, and quantitative information. We expect continued decline in non-contract truckload opportunities. These new and expanded services along with warehousing and equipment leasing have nearly quadrupled revenue and is on pace to generate $500 million of revenue this year with projected operating income of over $40 million, compared to a loss of $68 million in 2019. Source . Freight demand followed normal seasonal trends, but was generally strong throughout the quarter. David Jackson is the founder and CEO of Seeking Alpha. When AAA Cooper joined the KNX family last year, one of our stated goals was to improve the OR performance from the high 80s to the mid-80s over a three year period. For the past 15 years I have been representing private and publicly traded international corporations across all industries. We expect other revenue and income to grow when compared to prior years, as outlined on Slide nine of this presentation. Knight-Swift Transportation Holdings Inc. (KNX). Like I did in my Motley Fool Stock Advisor Review, I also subscribed to the 'Rule Breakers' service in January 2016 and have purchased about $2,000 of each of these picks since 2016. All lines have been placed on mute to prevent any background noise. By using this site, you agree to the . Thank you. And again, it's one question per participant. 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. At this time, I would like to welcome everyone to the Knight-Swift Transportation Second Quarter 2022 Earnings Call. I mean, if you looked at our operating income, there's -- that's an operating income number that rivals the biggest market caps of anybody -- of full -- of companies moving full truckloads, whether that's over the rail or whether that's over the road in our transportation space. But I think sequentially we'd expect rates to be stable. I think you alluded to this notion that power-only is really spot only -- spot businesses. 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. After that, then there's a detention charge. And again, most likely, we'll have an allocation. You have to have meaningful scale of trailers and you have to have them scattered all over the country like we do. I love writing, spreadsheets, user experience, and strategy. You know if you say, are they biased? Or, is it? It doesn't cost very much more to move it on a truck than it does in intermodal. 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? Start Your Seeking Alpha Premium Free Trial. We get a glimpse into that and the fact that the spot market has shrunk rather significantly in the first half of this year.
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