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. Now we are supporting mutually -- our mutual acquired LTL companies as they connect their networks, while preserving brand, culture and relationships. You don't know how reliable somebody is. Live from New. Actual results may differ. 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. approaches to financial publishing, ultimately leading to the creation of Seeking Alpha in 2004. Strong earnings have driven increases in our free cash flow, which was $1.1 billion through the second quarter over the trailing 12 months. Our Logistics segment continues to grow at a rapid pace, while expanding margins. Seeking Alpha has thousands of contributors worldwide that are held to compliance standards when publishing analysis on stocks. We will get to one question per participant. So just -- our spot exposure. 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. Our balance sheet is strong and we are well positioned to invest in organic growth, pursue acquisitions, purchase more shares, increase dividends and/or pay down debt. Now this slide may be one of my favorite slides for the quarter as our LTL businesses have made significant strides in increasing yield, managing costs and expanding margins. Thank you. LTL is expected to grow revenue through yield management and shipment growth, while improving margins year-over-year. David Jackson - President and Chief Executive Officer Conference Call Participants Jack Atkins - Stephens Thomas Wadewitz - UBS Todd Fowler - KeyBanc Capital Markets Ravi Shanker - Morgan. Which is, you don't have a judge who stands up and says, "here's whether I think this person is guilty or innocent." Ladies and gentlemen, this does indeed conclude today's conference. Technology has been a meaningful factor in how we've been able to not only significantly grow our logistics business, but do so while expanding margins. We expect the moderating spot market to provide less non contract opportunities during the second half of the year. As Dave mentioned, we expect to feel inflationary pressures from driver expenses, maintenance of equipment and non-driving labor, that will continue. I bring over 14 years of finance experience to Seeking Alpha, in shaping and leading finance operations and teams. This has allowed us to make progress towards reducing the number of unseated trucks and slow the reduction in productivity year over year. 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. And again, most likely, we'll have an allocation. Our miles per tractor continued to be negatively impacted by our intentional shift to a shorter length of haul and a higher unseated truck count year-over-year. 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. As spot rates have declined, we have increased commitment levels with our customers and have reduced our exposure to the spot market. So we might have a rate that in a backhaul market that's half the rate of what it is that's Phoenix to LA versus LA to Phoenix, which would be nearly twice the rate. If I compare that to last year this time will probably be 20% to 25%. This non-reportable segment hasn't been a great focus of analysts or investors over the years, but it is now building as one of our fastest growing segments. In the Dec. 31, 2020 announcement, David Jackson, founder and CEO, and Daniel Hochman, vice president of product, wrote that "more than 70,000+ investors have already subscribed to Premium and have unlimited access to all that Seeking Alpha Premium has to offer." [24] See also [ edit] Alpha (finance) Value Line Security analysis Securities research I think we're a little more cautious on the fourth quarter just because of just the uncertainty of what type of projects may be there. Seeking Alpha began in 2004 and has its headquarters in New York. In fact, the earnings are phenomenal there. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Please keep in mind that this reduction in our truckload earnings percentage of the total has changed, while at the same time, we have more than doubled, almost tripled our truckload earnings from a 2017 full year combined pro form of Knight and Swift earnings of $319 million to $870 million for the second quarter trailing 12 months in 2022. I joined Seeking Alpha in 2014. Maybe talk a little bit about what it provides your customers in terms of efficiency gains? Select this result to view David L Jackson's phone number, address, and more. Well, detention charges, they don't care. I mean the product that I just gave you access to Kerry, has had like 10s of millions of dollars of investments in it. Working at Taboola reinforced my desire to continue doing what I love professionally but also if possible with an Israeli company. 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. Thanks. Hey, great. We would refer you to the Risk Factors section of the company's Annual Report for a discussion of the risks that may affect results. Please go ahead. Do you think that we're kind of setting up for a fairly sharp fall-off in freight? St. Olaf College Alumni Founded Companies, Deakin University Alumni Founded Companies, Boise State University Alumni Founded Companies, Dartmouth College Alumni Founded Companies, Startup School by Y Combinator Alumni Founded Companies, Vellore Institute of Technology Alumni Founded Companies, Center for Digital Technology and Management, CDTM Alumni Founded Companies, Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. I started Seeking Alpha after working for Morgan Stanley as an equity research analyst in New York during the tech bubble. So for example, you've got the electronic logs. The best result we found for your search is David L Jackson age -- in Kansas City, MO in the Rosewood neighborhood. Thank you. So, you don't expect people to be unbiased, right? Chris, we're going to answer this in record time, because we're down to -- we're about out of time right now. Seeking Alpha is an investment research platform designed for intermediate to advanced investors who want cost-efficient, impartial, and quantitative information. Please disable your ad-blocker and refresh. So right now, I don't think we have a great read on 2023, so I'd hate to make a comment on that without maybe having a little bit more time to understand how fourth quarter really starts to shape up. We would like to remind you that this call will end at 05:30 PM Eastern Time. Seeking Alpha has a consumer rating of 3.21 stars from 261 reviews indicating that most customers are generally satisfied with their purchases. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. One of the unique things about what its impact on rates are is in freight rates you have headhaul and backhaul markets. 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. 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. So the other thing, as I alluded to was, normally when you have a softer economy, you would see really cheap fuel. The whole philosophy of Seeking Alpha is, number 1, treat our readers as intelligent people. So just a difficult comp from a year ago. (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. Im married with five children, and live in Raanana, Israel. Actual results may differ materially from these estimates. And so that type of business clearly requires a significant capital investment. 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. The chart on the right shows our rolling four quarters adjusted earnings per share since the Knight and Swift merger. Tractors, very similar. David Jackson is the founder and CEO of Seeking Alpha. 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? I later served in the IDFs Mamram unit (the Center of Computing and Information Systems), and then got a BSc in Computer Science from Bar-Ilan University. It's been largely abandoned by the industry, because it's not -- I mean, it's a bit chaotic and to do it right takes a lot of work. The reality with freight rates going up, with driver wages going up, that number should have gone up, but it hasn't yet. Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Q2 2022 Earnings Conference Call July 20, 2022 4:30 PM ET, Adam Miller - Chief Financial Officer and Treasurer, David Jackson - President and Chief Executive Officer, Good afternoon. Click here. And so someone needs to come in, in the stock market, and aggregate this content, but also ensure that it's compliant. The chart on the left shows the percentage of adjusted operating income from each of our segments and our other non-reportable services since the Knight and Swift merger in 2017 through second quarter of 2022. Previously, I served as legal counsel at Caesarstone Ltd. and Lumenis Ltd. Thanks. And I think that's why we like this as a nice complement to our core business. And your next question will be from Bert Subin at Stifel. This revenue growth combined with improvements in gross margin led to $44 million in operating income, which is more than a 200% improvement for the quarter. Customers continue -- we expect that customers will continue to secure trailer pools as they maximize efficiencies in their supply chains. That's where the most value is created in the supply chain. There's many ways that we approach power-only with our customers. David Jackson, Seeking Alpha's founder, recently directed readers to an article titled "New Highs, New Lows, Yield Greed" by David Merkel that he felt was important, and that subsequently generated a lively comment thread. The larger carriers, we have been moving towards trailer pools for many years, because it makes us more efficient. And let them evaluate it, and let them choose for themselves. Hey, good afternoon, and thank you for taking my questions. Might be back.might not. Thanks, Tom. Thank you. No, that's just our employees. We've got 200 employees, and thousands of contributors. 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. Just to make sure that when we refer to power-only, that's understood. GAAP earnings per diluted share for the first -- for the second quarter of 2022 were $1.35, which represents a 46.7% improvement from the prior year. My name is Sylvie, and I will be your conference operator today. Seeking Alpha. you'll find enjoyable and useful: Wall Street Breakfast -- our daily news summary; Seeking Alpha Editors' Picks -- a daily list of 5 outstanding articles; SA Interviews . VP Product. If you've been thinking about getting it, there's no better time than right now. But the good news for us is, we're not in an either/or. And so, in our industry it's -- we're much more sensitive to supply than we actually even our demand. The estimated Net Worth of David A Jackson is at least $11.5 Million dollars as of 31 May 2022. So I think all those go to maybe an environment where supply keeps pace, maybe outpaces the changes in demand. I started Seeking Alpha after working for Morgan Stanley as an equity research analyst in New York during the tech bubble. I'm David Jackson, founder of Seeking Alpha. We will answer as many questions as time allows. Get contact information for Seeking Alpha and Seeking Alpha journalists by joining Muck Rack. Profitly Login. We expect load volume to increase and margins to remain double digits in the back half of the year. Please. At this time, I would like to welcome everyone to the Knight-Swift Transportation Second Quarter 2022 Earnings Call. 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. Our truckload business continues to run with an operating ratio in the 70s. On a year-over-year basis, our truckload revenue excluding fuel surcharge grew 11%, while our operating income grew over 22%. All this contributes to Jackson Wang's net . Labor challenges within the rail network appear to be softening, leading to improved notification times and more consistency for our customers. Hey, Dave. And I think we have probably less visibility to the projects or type of surge opportunities we may have in the fourth quarter than we typically do this time. Mr. Miller, the meeting is now yours. 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. Treat them as people making their own decisions, and the best way to help people to make their own decisions is to give them both sides of the argument. Jackson Financial has a market cap of $2.82 billion as of Dec. 28, based on a share price of ~$34. Thanks, gents. David Jackson; Topics Type All 0 Ideas 0 Questions 0 Bugs 0 Praises 0 Announcements 0. Avishag Baruch. We have invested in technology that allows us to efficiently leverage our assets throughout multiple segments, including truckload, logistics and LTL. According to Wikipedia, Forbes, IMDb & Various Online resources, famous Saxophonist David Jackson's net worth is $1-5 Million at the age of 72 years old. 2Q is an excellent quarter for LTL. First is to introduce new profitable revenue streams with lots of growth runway that further diversify our company. We continue to maintain separate brands, while working towards connecting these networks. Additionally, we continue to make investments in the growth of this business and added 450 containers in the second quarter and plan to add an additional 1,500 throughout the rest of the year. . Slide four illustrates the revenue and margin contributions for the second quarter and year to date periods for each of our segments. Im married with 7 children and enjoy reading history and science. Our site is the only free, online source for over . Now on to Slide six. We acknowledge that we have less visibility on peak season surge as compared to the previous two years. 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. As these businesses grow and develop, we will evaluate whether it makes sense to aggregate some of these businesses as a separate reportable segment. Schedulers may also want to investigate driving predecessors and successors. Our call is scheduled to go until 05:30 PM Eastern Time. I started Seeking Alpha after working for five years as a technology research analyst for Morgan Stanley in New York. 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. 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. I will now hand it to Adam to finish up with our guidance. Thanks for that question, Jack. 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. Just want to clarify that. Don't treat them as people who need to be told what to do. Seeking Alpha is the dominant crowdsourced equity research platform, with thousands of contributors, and millions of registered users, monthly uniques, and email alert subscribers. Thank you. Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. I previously served as VP of Global HR at SysAid Tech and Head of HR at Emmerson. View People Contact Information. I think today we're probably down closer to the mid to low teens in terms of our exposure to the spot market. Source . Our team continues to act with agility and move with the market. Once again, thank you for participating. Im also a strong believer in remote working, as a way to enable both career success and other life goals, so many members of our team work from home. But I personally am deeply involved in our product because I use it. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The Seeking Alpha site has only one agenda, and that is to help its readers become better prepared and smarter investors. I love writing, spreadsheets, user experience, and strategy. I previously served as a Controller at Nice Ltd., a publicly traded company that provides cloud platforms for AI-driven business solutions. Slide nine illustrates the strong growth in our businesses that are included in the non-reportable segment. Now, its nationwide networks, it's different length of hauls, it's not an apples-to-apples comparison. Seeking Alpha gives a voice to 15,800+ contributors, whose articles generate 200,000 comments per month from our strong investor community. 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 Seeking Alpha is a crowd-sourced content service for financial markets. 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. So, I wanted to ask on the -- Hi, guys. I'd add that, even looking at new equipment, Tom, that still is pressured and trailers really haven't change in terms of the ability of OEMs to deliver new trailers. Two is to leverage existing expertise in areas where we've proven industry leading results, such as risk management, maintaining equipment and purchasing. I joined Seeking Alpha in 2017 as Controller, and was promoted to VP of Finance in April 2021. Investors read our financial news to gain insight into stocks future earnings and price trajectory, and to find new and exciting opportunities. After that, then there's a detention charge. David Jackson, Seeking Alpha Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Daybreak Australia Bloomberg Daybreak Australia. I wanted to ask on the guidance commentary around the rate assumptions for the back half of the year. And margin contributions for the second Quarter and year to date periods each... 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