Knight Transportation Q3 Profit Matches View, But Revenues Miss - Quick Facts

(RTTNews) - Knight Transportation, Inc. (KNX) reported decline in third-quarter net income attributable to the company to $15.06 million or $0.19 per share, from $16.58 million or $0.21 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter rose to $239.34 million from $237.93 million in the prior year quarter. Thirteen analysts had consensus revenue estimate of $241.96 million for the quarter.

Revenue, excluding trucking fuel surcharge, for the quarter increased to $195.85 million from last year's $192.55 million.

Kevin Knight, Chairman and Chief Executive Officer, said, "Despite a difficult operating environment and running 3.6% fewer tractors than last year, we grew our revenue on a year over year basis. Our revenue per tractor improved by 1.0%, as a result of a 1.5% improvement in revenue per total mile and a 0.5% decrease in miles per tractor. Inflationary cost pressures exceeded the improvement in our revenue per total mile, yet we remain confident in our ability to operate with an industry-leading cost per mile."