Knight Transportation, Inc. (KNX)(“Knight”), one of North America’s largest and most diversified truckload transportation companies, today provided an update on its guidance for first quarter of 2014.
Based on preliminary results, Knight expects earnings per diluted share will range from:
- $0.22 to $0.23 for its first quarter ending March 31, 2013, compared with its prior estimates of $0.19 to $0.21 and 2013 first quarter earnings per diluted share of $0.19.
Chairman and Chief Executive Officer Kevin P. Knight commented: ''There are several factors that contributed to our expectation of improved results for the first quarter of 2014. During the quarter we experienced greater demand for our capacity. This resulted in year over year improvement in revenue per tractor and growth in our brokerage business. We have also seen strength in the used equipment marketplace, which is resulting in better than expected gain on sale of tractors and trailers. As the trucking environment remains strong we continue to focus on improving production, growing our non-asset based businesses, recruiting and developing driving associates, providing industry-leading service, and intensifying our cost control efforts.''
The company expects to release its 2014 first quarter earnings on April 23rd, shortly before market open. Knight will be holding a live conference call with analysts and investors to discuss the earnings release, the results of operations, and other matters after its earnings press release on April 23rd, at 4:30 pm EST. Slides to accompany this call will be posted on the company’s website and will be available to download just prior to the scheduled conference call. To view the presentation, please visit http://investor.knighttrans.com/events, ''First Quarter 2014 Conference Call Presentation.''
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements generally may be identified by their use of terms or phrases such as "expects," "estimates," "anticipates," "projects," "believes," "plans," "intends," "may," "will," "should," "could," "potential," "continue," "future," and terms or phrases of similar substance. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. In this press release, the statements relating to the estimated range of earnings per diluted share are forward-looking statements. Such items have not been subjected to all the review and audit procedures associated with the release of actual financial results and are premised on certain assumptions. Accordingly, actual results may differ from those set forth in the forward-looking statements. Readers should review and consider the factors that may affect future results and other disclosures by the Company in its press releases, stockholder reports, Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission. We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information.
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Dave Jackson, President / Adam Miller, CFO