Since the 2017 Swift merger, we have invested $1.6 billion in acquisitions, making acquisitions remains a high priority for us. We do over for a backup where we contract with a customer where any type of freight that falls out just flows to our power-only business and we're able to support them there. David Ganek: Delivering Alpha Unfiltered. In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. Our stock coverage is wider and deeper than any other. Im married with 7 children and enjoy reading history and science. Im a certified public accountant, and have a BA in Economics and Accounting and an MBA from Tel Aviv University. And so -- and that has been effective in every single cycle since 1980. We are constantly evaluating market conditions to maximize our use of cash to create value for our shareholders. Good afternoon. And again, our tax rate is expected to be around 25% for the full year. Speakers from today's call will be Dave Jackson, President and CEO; and Adam Miller, CFO. 3. When I started Seeking Alpha it was, we gotta get you all the assets. Logistics revenue per load will moderate sequentially, but will be -- but will be more than offset with increased load volumes and most likely operates with an operating ratio in the mid to high 80s. Let's look at what you get for your money in our Seeking Alpha review. I'm very excited to show it to you, and give it to you right, right? So I guess. 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. He is from England. I need to understand how this happened. We haven't quite got to $1 billion, we're on our way to $1 billion a year run rate for that to be the big driver of the earnings for the business. Well, right now, high energy prices is a huge hurdle for small carriers and it doesn't appear to be changing meaningfully anytime soon. Our Q2 trailing 12 months return is 24.8%, which is a substantial improvement from the 17% return we achieved during the peak of the last freight cycle. Next question will be from Thomas Wadewitz at UBS. He earned the money being a professional Saxophonist. Here it is. But we're excited about the runway that we have there. Strong earnings have driven increases in our free cash flow, which was $1.1 billion through the second quarter over the trailing 12 months. 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. These results reflect our focus on; one, growing our less asset intensive businesses; two, acquiring and improving businesses; and three, expanding margins in existing operations. Did this happen because you are an investor? This is a result of a more difficult comparison rather than rates meaningfully declining sequentially. Please go ahead. And lastly, we expect the used equipment market to normalize as small carriers exit with little interest from new entrants and increased difficulty in securing credit for smaller carriers. Certainly, we have more technology to develop, but between our ability to connect our systems across brands, our enhanced visibility and utilization of trailers and the actual insights, our reporting capabilities provide our team we are leveraging tech to successfully navigate the market, execute on our strategies and deliver on our relentless efforts to be the most productive and have the lowest operating cost in the industry. And we're able to do it not to the detriment of our asset based business that performed, again, with an operating ratio in the 70s. Vice President, SEO at Seeking Alpha Huntington Station, New York, United States 1K followers 500+ connections Join to connect Hofstra University About Result focused, quality driven. Despite fewer spot opportunities, our logistics load volumes increased 48.2% year-over-year, with our power-only service offering growing 96.7%. I have no business relationship with any company whose stock is mentioned in this article. Overview. I believe that technology innovation by brilliant minds leads to awesome user experience. And clearly, it's been attractive to both parties on both sides, meaning, customer and small carriers. Hey, good afternoon, and thank you for taking my questions. At the same time, new technologies were creating the possibility of a different approach to equity research, based on crowdsourcing and community. There's many ways that we approach power-only with our customers. As I mentioned on the previous slide, our investment in technology has allowed us to seamlessly leverage trailers across over the road fleet -- our over the road fleet, our dedicated operations and logistics business to provide our customers with ample trailer pool capacity. But I personally am deeply involved in our product because I use it. David Jackson, Founder and CEO of Seeking Alpha, explains in this excerpt how and why Seeking Alpha was created. And again, most likely, we'll have an allocation. 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. I understand articles are limited, but news announcements? Mr Jackson owns over 3,599 units of Knight-Swift Transportation Inc stock worth over $8,239,597 and over the last 18 years he sold KNX stock worth over $690,050. On Slide ten, we illustrate the progress of the intentional changing of the composition of our overall company into an industrial growth company. Dave and Adam, you guys have seen a lot of freight cycles, you have a lot of great perspective, not to mention all the information you see from your businesses. Founded in 2004, Seeking Alpha is an investment research platform and newsletter that relies on the combined knowledge of its community to find the best investing opportunities. My hobbies include reading history and tormenting my children with terrible dad jokes. There's another type of founder of startups of people who build the product that they want themselves. 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. Membership fee: $239 per year Free plan available; mobile app Get 50% Off Fortunly Rating Free Plan: Yes Costs: Premium $19.99 per month; Pro $199.99 per month (one-year subscription) Securities: Stocks, ETFs, mutual funds, commodities, cryptocurrencies Years in Business: 18 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. In addition to this strategic acquisitions, we continue to improve our core truckload business and our existing assets to generate additional revenue. The whole philosophy of Seeking Alpha is, number 1, treat our readers as intelligent people. David Ganek is a man on a mission, a hedge funder who believes he was wronged by an overzealous prosecutor who raided his offices in 2010 and charged the . Or, is short the stock, and that's fine. Because I mean I'll just, I'll just give you one kind of example, which is a lot of what we've been thinking about over the last year. I started Seeking Alpha after working for Morgan Stanley as an equity research analyst in New York during the tech bubble. And so, we're transitioning in that space from also similar to the customer paying a big premium in spot, we're transitioning from paying very large premiums to bring power-only capacity into our network to paying what -- where the market rate is and relying on the efficiencies to attract. We continue to invest in our already industry leading trailer network, which grew sequentially by 1,700 trailers to just over 73,000 trailers. We expect that demand may moderate as the consumer digests and deals with higher inflation and uncertainty in the economy. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. And now, of course, the challenge would be securing enough credit to do so. Great. 2. View People Contact Information. I think your -- first part of that question was acknowledging what are the benefits to the customer. And the [indiscernible] rate is $60 an hour. Seeking Alpha New Year's Sale - 83% OFF Seeking Alpha is running a massive 83% discount on their annual premium plan. Accessibility: 4/5. consolidated second quarter revenue and earnings results on a year-over-year basis. We want people who own stocks to write articles explaining why they own the stock. We're talking about using those trailers where we can have a bank of trailers and stays them where we would bring a loaded in and give a customer the benefit of days, maybe a couple of days to unload that trailer as opposed to a couple of hours. Premium Portfolio Thank you. David Jackson Chief Executive Officer at Seeking Alpha David Jackson is the Chief Executive Officer at Seeking Alpha based in New York, New York. Click the follow button if you like this video so you dont miss any of our future video releases. Now this concludes our prepared remarks. I will now hand it to Adam to finish up with our guidance. Status All 0 Opened Unmarked 0 Active 0 Under review . 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. Click on "link portfolio" to sync your brokerage account by using Plaid. Now on to Slide seven. I have an LLB from Bar Ilan University in Israel and an LLM from the New York University School of Law. 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. Our truckload earnings now represent only 61% of earnings, which represents a meaningful shift from where we were in 2017 as noted in the graph when we did the Knight and Swift merger. My practice focuses on M&As, IPOs, securities laws and commercial transactions, as well as daily consultation to all companys stakeholders. Hey, Adam. 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. Founder and CEO. And then, suddenly, restaurant reviews moved to Yelp. 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. I bring over 14 years of finance experience to Seeking Alpha, in shaping and leading finance operations and teams. So hopefully that answers your question, Chris. And I think that's why we like this as a nice complement to our core business. Where Is the contrary opinion? After his phenomenal debut in 2014, Chinese K-pop star Jackson Wang has been taking the entertainment industry of South Korea by storm. Start Your Seeking Alpha Premium Free Trial. Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may apply. And number three, to provide these services in a way that benefits the relationship that we have with small carriers as we build a much, much larger network using their power with our trailers and freight network. We expect these services to continue to grow and provide us with income streams that are less prone to volatility through economic cycles. As Dave mentioned, we expect to feel inflationary pressures from driver expenses, maintenance of equipment and non-driving labor, that will continue. Do you feel like it's higher than $4 given the traction you've made with LTL and logistics and the other revenue segment? I joined Seeking Alpha in June 2021. Would you care to kind of update that view here? Customers continue -- we expect that customers will continue to secure trailer pools as they maximize efficiencies in their supply chains. Spot would certainly be one of them, but we react to all sorts of different customer needs. And that has come off, probably off 25% or even maybe a little bit more. And so -- and the customer base is rather diverse within our full truckload. So I think all those go to maybe an environment where supply keeps pace, maybe outpaces the changes in demand. Our site is the only free, online source for over . 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. We expect contraction in supply and are already seen it, and expect that to continue as the year proceeds as carriers deal with depressed spot rates combined with high energy fuel prices, higher maintenance and equipment costs and rising interest rates, which not only makes it difficult for those that are highly leveraged, but also disincentivizes new entrants to the market. I wrote this article myself, and it expresses my own opinions. So, Adam, just to clarify though, it doesn't sound like you've got a lot built in for a lot of transactional opportunity into the fourth quarter. And Adam, I understand your comment that it's mostly difficult compares. But even at $60 an hour after two hours. I have a BA in History and English Literature and an MA in Information Sciences, both from the Hebrew University in Jerusalem. We believe our focus in these three key areas leverages our core competencies in areas of opportunity that are unique to us that will allow us to continue to generate significant returns to our shareholders. So I guess my question really centers around your power-only and logistics offering. This connection is encrypted and private since your credentials will never be made visible to Seeking Alpha. Please go ahead. David Jackson's Analysis | Seeking Alpha Unlock your true investor potential with Seeking Alpha Premium today David Jackson Follow Contributor since 2003 5.17K Followers 164 Following. Each reportable segment grew revenue double digits and expanded margins, which ultimately led to a 49.1% increase in revenue and a 66.1% increase in adjusted operating income on a consolidated basis. This is a result of our continued focus on growing our logistics and intermodal services, our progress towards building a nationwide LTL network and the development of new revenue streams that provides expanded services to third parties. Username or Email. Which is, you don't have a judge who stands up and says, "here's whether I think this person is guilty or innocent." You saw the gross margin of better than 24% in our logistics segment. I have a BA in Behavioral Science from the University of Ben Gurion and an MBA. 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. Maybe talk a little bit about what it provides your customers in terms of efficiency gains? Across all of our brands, we have a tremendous team of drivers, shop technicians and office personnel. 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. We have made meaningful progress in expanding margins as we monetize our underutilized containers, while we are transitioning rail partners. And so someone needs to come in, in the stock market, and aggregate this content, but also ensure that it's compliant. The charts on slide three compare our consolidated second quarter revenue and earnings results on a year-over-year basis. There really isn't much that we haven't hit from our larger customers. We love doing a regular route full truckload. Im passionate about building a product that enriches our subscribers lives, and a platform that provides opportunities for our contributors. Chris, we're going to answer this in record time, because we're down to -- we're about out of time right now. We believe our scale in trailers is a competitive advantage and provides our customers capabilities that are extremely difficult to replicate. 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. So that's a little bit of color there. I guess, the takeaway, I guess, I'm getting to some extent is, it feels like maybe this, I guess, every cycle is different and certainly Dave you made a good point about why this might be different than previous cycles. For example, we now have over 6,000 trailers in our leasing program. More recently, we have demonstrated our ability to improve the logistics business and tap into synergies between truckload and LTL. 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. Yeah. 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? If you have an ad-blocker enabled you may be blocked from proceeding. Not to speak about just the economics of how it works for a small carrier. Knight-Swift Transportation Holdings Inc. (KNX). Fabolous was born John David Jackson on November 18, 1977 and is of Dominican and African-American descent. Do you see where I clicked in the navigation. There is no headhaul, backhaul, it's the same. But we very much like the business. If I compare that to last year this time will probably be 20% to 25%. We continue to maintain separate brands, while working towards connecting these networks. Each of the brands has its own unique competitive advantages, whether that's based on the region or doing more expedited or in some cases a little longer haul. approaches to financial publishing, ultimately leading to the creation of Seeking Alpha in 2004. With Seeking Alpha premium, you can compare seven different stocks at the same time. Service 42. And so, I think that that has led usthat has led us to have some more consistency and then a little bit more durable through even the 2019 negative cycle. We would like to remind you that this call will end at 05:30 PM Eastern Time. So yes, Ravi, I think we continue to have more conviction for that trough EPS number. So, I wanted to ask on the -- Hi, guys. Book reviews moved to Amazon, right? This guy is bearish on Facebook, right? He left in early 2003 to manage money (long/short) and explore new Jobs I think you alluded to this notion that power-only is really spot only -- spot businesses. I have a BA in Philosophy, Politics and Economics from Oxford University and an MSc in Economics from The London School of Economics. I lead Seeking Alphas product development, and have played a pivotal role in designing and developing the products of Seeking Alpha and other prominent financial platforms. 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? David Jackson's Net Worth: $1-5 Million Age, Height & Body Measurements David Jackson current age 72 years old. Increased 48.2 % year-over-year, with our guidance likely, we have a tremendous team of drivers shop!, explains in this excerpt how and why Seeking Alpha, in shaping and finance. To awesome user experience grew sequentially by 1,700 trailers to just over 73,000 trailers bring over 14 of! 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