We expect the moderating spot market to provide less non contract opportunities during the second half of the year. And so, when you look at the fact that the full truckload piece is, first, we saw a shrink in terms of the overall revenue. (3) We've raised retention for Seeking Alpha Premium by (i) identifying our most valuable product features, and (2) redesigning the product UX to increase the usage of those features. Ladies and gentlemen, this does indeed conclude today's conference. I'm going to start a company there and they do it over and over again, right? Thank you. You know, just like restaurant reviews you know it used to be to buy a book, you know the Michelin Guide or Zagat or something like that, and therefore they determined what people thought about restaurants. Do you kind of feel more confident in that $4 floor in earnings? Please go ahead. Spot would certainly be one of them, but we react to all sorts of different customer needs. Recruiting and retaining drivers continues to be a challenge, but we are seeing improvements sequentially in our ability to recruit drivers. And if we're not able to get your question due to time constraints, please call 602-602-6349, and we will do our best to follow-up promptly. [Operator Instructions]. In addition, he makes $2,531,869 as Pres and CEO & Director at Knight-Swift . 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. Select this result to view David L Jackson's phone number, address, and more. Yes. Well, that's completely unacceptable and would never work within supply chains. More recently, we have demonstrated our ability to improve the logistics business and tap into synergies between truckload and LTL. I get that. Seeking Alpha began in 2004 and has its headquarters in New York. I joined Seeking Alpha in 2014. And I think a classic example to that would be, just look at the first half of this year. We are very encouraged by the LTL results and our conviction for synergy achievement continues to grow. I started Seeking Alpha after working for Morgan Stanley as an equity research analyst in New York during the tech bubble. We have slides to accompany this call that are posted on our investor website. If you've been thinking about getting it, there's no better time than right now. This is a result of a more difficult comparison rather than rates meaningfully declining sequentially. 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. Now on to the next slide. It's not, okay, we're going to put our heart and soul into LTL and we're going to forget about full truckload. Seeking Alpha was founded by former Wall Street analyst David Jackson in 2004. Previously, I served as legal counsel at Caesarstone Ltd. and Lumenis Ltd. In fact, the earnings are phenomenal there. Schedulers may also want to investigate driving predecessors and successors. I think today we're probably down closer to the mid to low teens in terms of our exposure to the spot market. Thanks, Tom. And then we talk a lot about sort of trough earnings and what we think we can do and clearly the non-truckload pieces of business are performing. 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. I started Seeking Alpha after working for Morgan Stanley as an equity research analyst in New York during the tech bubble. The following text is a transcript for our readers who would like to follow along: (Parts of this transcript may have been altered for readability.). That's very helpful. David Jackson Chief Executive Officer at Seeking Alpha David Jackson is the Chief Executive Officer at Seeking Alpha based in New York, New York. Thank you. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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. Appreciate it. And maybe there's a reason to think contract rates could kind of bottom out at a much more shallower decline? David Jackson - Researcher - LinkedIn | LinkedIn Join now Sign in David Jackson Hiding from waves of LinkedIn spam by omitting my company name and job title. We will answer as many questions as time allows. Our truckload business continues to run with an operating ratio in the 70s. Across all of our brands, we have a tremendous team of drivers, shop technicians and office personnel. For the quarter, we had a 91.8% increase in revenue and a 615% increase in operating income. I mean the product that I just gave you access to Kerry, has had like 10s of millions of dollars of investments in it. Capacity is clearly under pressure. And our net cash CapEx for the full year is expected to be in the range of $550 million to $600 million, which is unchanged from the previous quarter. Hey, good afternoon, and thank you for taking my questions. VP HR. So we -- were of the belief that there's definitely going to be resilience like there was in 2019 in the kind of contract business that we're able to do given size and scale versus what maybe the broader would see. Now on to Slide six. During this time, the EPS has moved from $2.16 per share to $5.67 per share for the trailing 12 months. 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 have pulled some of these containers back into our operations and will continue to do so in 2023. 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. The charts on slide three compare our consolidated second quarter revenue and earnings results on a year-over-year basis. This may result in rates turning negative year-over-year late in the third quarter and continuing into the fourth quarter. 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. One of the unique things about what its impact on rates are is in freight rates you have headhaul and backhaul markets. I understand there's a lot of variability, but right now in the current guidance, it doesn't sound like you've got a big fourth quarter planned right now? Once again, thank you for participating. Our expansive trailer network allows our customers the ability to optimize thorough our warehouse space and labor costs. Slide 12 illustrates the trend of return on net tangible assets. 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. That might sound like a really obvious thing, because, for example, that's the way the whole legal system in America and Western countries work, right? So, now what we've done is, is we've tried to address the area where we do have a finite limit of capacity, which is we only have so many trucks and drivers. Seeking Alpha is an investment research platform designed for intermediate to advanced investors who want cost-efficient, impartial, and quantitative information. Do you think that we're kind of setting up for a fairly sharp fall-off in freight? Now, it wasn't nearly as difficult for the big guys, because electronic logs was one of the big reasons why there was the surge in 2018, because people could run less miles and you couldn't double down and run even more miles in an oversupplied environment. 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 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. 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. I wrote this article myself, and it expresses my own opinions. David Jackson's Net Worth: $1-5 Million Age, Height & Body Measurements David Jackson current age 72 years old. Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. Some tools you can start utilizing if you sign-up to Seeking Alpha, include: Custom virtual portfolio tracker Link and analyze your actual portfolio I have no business relationship with any company whose stock is mentioned in this article. So we have that going on as a backdrop that is different than any cycle prior to 2018. And it's really because our customers are still uncertain. Is this happening to you frequently? My practice focuses on M&As, IPOs, securities laws and commercial transactions, as well as daily consultation to all companys stakeholders. And we have untapped leverage within the trailer pools than the whole trailer fleet that we have. And on the last call, you said that in a trough scenario it was difficult to envision EPS below $4, and I'm sort of paraphrasing here. Knight-Swift Transportation Holdings Inc. (KNX). [Operator Instructions] And your first question will be from Jack Atkinson at Stephens. The Seeking Alpha Premium service portfolio linking feature allows you to connect your brokerage account with your Seeking Alpha account. If you look at the other key components to our business, we have a variable cost in there, whether the cost is the third party carrier, whether the cost is the rail. Operating income increased by 143.8% as the operating ratio improved from 95% to 89.3%. David Jackson. 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 And so, that's just -- and we didn't go into this one with a huge oversupply like we did in 2018 to 2019 or like we did in 2006 to 2007 or like we did in really -- I guess those would be some of the biggest ones we've seen in recent history. So, I wanted to ask on the -- Hi, guys. So what I'm leading to in all of this, Tom, is different than any other cycle, we have never seen supply come out so early and appear to be coming out at the same pace, if not, maybe even faster than demand seems to be waning. We're pleased to report meaningful contributions in earnings from each area as noted on the graph. I live in New York City with my wife and daughter and have many outside passions including classical music, collecting photography, adventure travel and playing numerous sports. The stocks with STRONG BUY ratings from Seeking Alpha have increased 1,754% in comparison to the S&P 500%27s 385% increase over the past decade. It is carefully vetted by in-house editors, then read and debated by millions of people. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. I was a research analyst for an investment bank in the tech bubble, and I'm not a serial entrepreneur. By using this site, you agree to the . But I think sequentially we'd expect rates to be stable. As these businesses grow and develop, we will evaluate whether it makes sense to aggregate some of these businesses as a separate reportable segment. The reality with freight rates going up, with driver wages going up, that number should have gone up, but it hasn't yet. Did this happen because you are an investor? Yes, I would tell you that every quarter that goes by that we continue to see improvement in margins, improvement in revenue, it gives us more conviction for a higher and higher trough. Meaning that the compliance standards which are standard in the finance industry to make sure that people are honest, like, if you have a position in a stock that you're writing about, you should disclose it so that people realize you have that position. 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. This offer expires soon! The next few slides will discuss each segment's operating performance starting with truckload on Slide five. Well, virtually every one of those factors is not the same and is different this go around. . CTO & COO. The idea of providing investors with a level playing ground to share insights was as exciting then as it is now! Im an experienced HR executive with over 18 years of experience in leading global HR teams across multiple business units. 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? And in fact they have lower risk than the full truckload irregular route business has. We are seeing significant improvements in revenue and income growth in each of these areas. And so, if you have a detention charge on a backhaul lane, you have a very, very low base on the price to add $60 for every hour, over two hours to be unloaded. I previously served as VP of Global HR at SysAid Tech and Head of HR at Emmerson. 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. I've received three mails on the site in three hours from David Jackson, and the mail says I've been automatically set to follow "some authors with recent articles we think . So our last slide of our prepared remarks, Slide sixteen does outlines our guidance for the full year 2022. The enterprise value currently is $1.9 billion, which is a by-product of the significant. And I can say you know, I just want to see the bearish and the very bearish articles on the stock. All this contributes to Jackson Wang's net . In my IDF service, I worked as a liaison to UN forces deployed on the country's northern borders, which inspired a lifelong dream to move to more rural surroundings. And so that type of business clearly requires a significant capital investment. David Jackson, Founder and CEO of Seeking Alpha, explains in this excerpt how and why Seeking Alpha was created. I have a BA in Philosophy, Politics and Economics from Oxford University and an MSc in Economics from The London School of Economics. I'm David Jackson, founder of Seeking Alpha. I understand articles are limited, but news announcements? Actual results may differ. There are thousands of contributors. This guy is bearish on Facebook, right? What's the most efficient way to help a small carrier reduce their empty miles in a $5 plus diesel fuel environment and what's the best way to save the supply chains? Seeking Alpha. So, you don't expect people to be unbiased, right? Founded in 2004 by David Jackson, Seeking Alpha is a crowdsourced investment research platform. 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. What's your best sense of how this evolves? I will now hand it to Adam to finish up with our guidance. There isn't warehousing in between. Yes, sure. Just want to clarify that. Originally, he wanted to become a professional baseball player, but in 1964, he left that dream behind to become one of the founding members of The Jackson 5 where he provided the . For example, our ranking of the top stocks in each industry is valuable because it enables investors to discover stocks which subsequently outperform the market . Customers continue -- we expect that customers will continue to secure trailer pools as they maximize efficiencies in their supply chains. I mean, a lot of these LTL statistics are public. Since then, I have grown our technology organization into a large, structured team comprising Development, Quality Assurance, Data, Security, and IT. The $20 million to $25 million is the total for the back half of the year. Since the 2017 Swift merger, we have invested $1.6 billion in acquisitions, making acquisitions remains a high priority for us. Well, right now, high energy prices is a huge hurdle for small carriers and it doesn't appear to be changing meaningfully anytime soon. Sylvie, we will turn it back to you to conclude. Please. Our LTL business showed great improvement and ran the 70s for the first time. Thanks. And so, there's all kinds of cost savings. I'm very excited to show it to you, and give it to you right, right? I now live with my very own Brady Bunch (and assorted pets and wildlife) in the beautiful North of Israel, spending most of my free time feeding all of them, taking nature walks and tending my garden. We are seeing strong demand from our customers to secure trailer pool capacity through our truckload and logistics segments. I think Jack, I'd also add. David Jackson is the founder and CEO of Seeking Alpha. The content is too spotty. Seeking Alpha has thousands of contributors worldwide that are held. We have many fewer competitors in that space as well. 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. Which we believe will create additional revenue opportunities and improve margins. Seeking Alpha is . My name is Sylvie, and I will be your conference operator today. Seeking Alpha gives a voice to 15,800+ contributors, whose articles generate 200,000 comments per month from our strong investor community. We provide diverse opinions on each stock so that investors can weigh the bull and bear case and make an informed decision.Our news enables investors to understand why the market and the stocks in their portfolio are moving or are about to move. That's where the most value is created in the supply chain. Karen Weissberg. 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. I guess I want to get your sense of how you think that sort of retracement on the contract side could look relative to previous cycles given everything that you said so far? The customer included in the freight rate is two hours to unload that trailer. David Jackson is the founder and CEO of Seeking Alpha. Price: 4.5/5 (Seeking Alpha Premium costs $19.99/month when billed annually, but you can get it for 50% off with . So, let me, just for fun now, I'm gonna screenshare. Thank you, sir. I am not receiving compensation for it (other than from Seeking Alpha). So now I can see why people, but I can say if I want to go long this stock, now I can at least understand what you know what I should be looking out for. Seeking Alpha is another excellent premium subscription service. And the [indiscernible] rate is $60 an hour. Two is to leverage existing expertise in areas where we've proven industry leading results, such as risk management, maintaining equipment and purchasing. 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, we said our goal initially was in three years we wanted to be to an 85. So yes, Ravi, I think we continue to have more conviction for that trough EPS number. We also expect inflationary pressure on driver related cost, equipment costs, cost to maintain equipment, labor and several other items. David Jackson Founder & CEO at Seeking Alpha About David Jackson is the founder of Seeking Alpha. I think you alluded to this notion that power-only is really spot only -- spot businesses. The best result we found for your search is David L Jackson age -- in Kansas City, MO in the Rosewood neighborhood. 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. Speakers from today's call will be Dave Jackson, President and CEO; and Adam Miller, CFO. I have no business relationship with any company whose stock is mentioned in this article. 1. It was like the wisdom of crowds. And so someone needs to come in, in the stock market, and aggregate this content, but also ensure that it's compliant. Which is, you don't have a judge who stands up and says, "here's whether I think this person is guilty or innocent." So hopefully that answers your question, Chris. That's their job to be biased. And so, as any of those markets change, we can shift focus to another one of those areas to support our customers and continue to grow our power-only capabilities. Service 42. Accessibility: 4/5. And then, when you read the article, you can say, oh well this person owns the stock. Im a certified public accountant, and have a BA in Economics and Accounting and an MBA from Tel Aviv University. We expect tractor count to remain stable throughout the year with maybe a modest sequential improvement in the miles per tractor as we improve our seeded truck count. Please go ahead. Might be back.might not. While rail service remains a challenge, we did see meaningful improvements in street and rail velocity in many corridors. In addition to this strategic acquisitions, we continue to improve our core truckload business and our existing assets to generate additional revenue. Hey, thanks guys. What we do as a platform is we put every side in front of you so that you can decide for yourself. Investors are directed to the information contained in item 1A Risk Factors or Part 1 of the company's annual report on form 10-K filed with the United States SEC for a discussion of the risks that may affect the company's future operating results. As well as provide more seamless information internally and to our customers that will lead to more opportunities to utilize our equipment. 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. And I don't know if you have prior cycles to say why does this feel like 2018 or does it feel like 2016 or just some more perspective to kind of think about the cycle? Our logistics business was in the low 80s and our Intermodal business achieved double digit 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. These estimates represent management's best estimates based on current information available. We will get to one question per participant. Thanks. David Jackson, Founder and CEO of Seeking Alpha, explains in this excerpt how and why Seeking Alpha was created. Or should we think about that as being perhaps a sub-85 OR in a good year, it's been perhaps higher 80s in a bad year? Username or Email. Good afternoon. No, that's just our employees. 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. . The original concept for this platform was for it to be a place where knowledgeable investors could share their insights on investments and compare strategies. Now on to Slide seven. 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. So I think we've made some shifts there, very strategically through the bids and we like the position that we're in there. We have been extremely impressed with the leadership at both AAA Cooper and MME on how open minded the teams have been in working with the KNX leadership, as well as with each other in developing the strategy to leverage the now enhanced scale of the network. 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. Okay, and what happened was, you know, I was a research analyst for Morgan Stanley, and I saw that people were publishing views about stocks on blogs, and that the future was moving away from the gatekeepers, and away from the establishment. I mean we've essentially gone through the bid cycle. I am not receiving compensation for it (other than from Seeking Alpha). But I personally am deeply involved in our product because I use it. You know, there are many startup founders who are just incredible people who say okay, where's a really big market ready for disruption? If you have an ad-blocker enabled you may be blocked from proceeding. Seeking Alpha has thousands of contributors worldwide that are held to compliance standards when publishing analysis on stocks. Very encouraged by the LTL results and our existing assets to generate revenue... 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