Knight Transportation (KNX) Tops Q3 EPS by 4c

Knight Transportation (NYSE: KNX) reported Q3 EPS of $0.31, $0.04 better than the analyst estimate of $0.27. Revenue for the quarter came in at $271.55 million versus the consensus estimate of $266.63 million.

Kevin Knight, Chairman and Chief Executive Officer, commented on the quarter, ''During the quarter we improved our revenue, excluding fuel surcharge 16.3%, while improving our consolidated operating ratio by 510 basis points. The overall demand environment remained strong while capacity continues to be tight. We are pleased with the progress made in both our trucking and logistics segments, as these businesses continue to complement each other and have led to profitable growth. In our trucking business, revenue per tractor, excluding fuel surcharge, increased 7.2%, year over year, with a 6.5% improvement in revenue per loaded mile, a 2.5% increase in our length of haul, an 80 basis point improvement in our non-paid empty mile percentage, and miles per tractor essentially flat. In our logistics business, revenue growth was strong at 55.3% and gross margin percentage improved as well. We continue to feel well positioned for future growth by our ability to provide capacity for our customers and quality careers for our driving associates.''

For earnings history and earnings-related data on Knight Transportation (KNX) click here.

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