Knight Transportation (KNX) Reports Q1 EPS of $0.44

Knight Transportation (NYSE: KNX) reported Q1 EPS of $0.44, versus $0.55 reported last year. Revenue for the quarter came in at $1.12 billion, versus $1.2 million reported last year.

COVID-19 —The COVID-19 pandemic, and efforts to contain it, has significantly affected the economy and the everyday lives of people around the world. Trucking has always been an essential service, which has become increasingly apparent, as we partner with our customers to deliver vital goods to consumers throughout North America during these trying times. As part of our efforts to safeguard our employees and promote business continuity, we have taken many additional precautions to enhance the sanitization process of our equipment and properties, increase the social distancing of our employees by working remotely where possible, and provide our driving associates with essential provisions and enhanced bonus opportunities while they are over the road delivering freight for our customers. During the first quarter of 2020, we invested approximately $2.3 million (or $0.01 of Adjusted EPS) of incremental expenses associated with our drivers and terminal employees to ensure safety and that communities received essential products. We expect to incur costs of a similar nature in the second quarter of 2020.

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