My career started when I fell in love with coding in high school. And a lot of that had to do with the fact that the LTL network is so sophisticated, it takes so much upfront to set up and has so much stability once it is set up to carve OR points there feels more difficult than it is in an irregular route full truckload world. We want people who own stocks to write articles explaining why they own the stock. The reality with freight rates going up, with driver wages going up, that number should have gone up, but it hasn't yet. Good afternoon. Our truckload business continues to run with an operating ratio in the 70s. Hey, guys. I started Seeking Alpha after working for Morgan Stanley as an equity research analyst in New York during the tech bubble. And so, we -- when you look at even the truckload portion, we do truckload with multiple brands, we have in that segment includes a bunch of dedicated business. And again, most likely, we'll have an allocation. Year-to-date, we have used cash to increase our dividend to shareholders by 20%, repurchased $300 million worth of shares and paid down $86 million in long-term debt and leases. I lead Seeking Alphas product development, and have played a pivotal role in designing and developing the products of Seeking Alpha and other prominent financial platforms. Thanks, Dave. Thanks. 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. 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 just to clarify, we're saying $20 million to $25, we're not seeing $20 million to $25 million per quarter. I love writing, spreadsheets, user experience, and strategy. Click HERE. We have pulled some of these containers back into our operations and will continue to do so in 2023. But we're excited about the runway that we have there. Which Task has which predecessors and who is going to work on which Task. So that would constrain supply. The loss reduced both the GAAP earnings per diluted share and the adjusted earnings per share by $0.16. So we have that going on as a backdrop that is different than any cycle prior to 2018. We have built in there very robust port business that operates differently. Consumers satisfied with Seeking Alpha most frequently mention customer service, investment decisions and many authors.Seeking Alpha ranks 7th among Stock Trading sites. Would you care to kind of update that view here? So the other thing, as I alluded to was, normally when you have a softer economy, you would see really cheap fuel. I wrote this article myself, and it expresses my own opinions. Seeking Alpha New Year's Sale - 83% OFF Seeking Alpha is running a massive 83% discount on their annual premium plan. So I guess. Hey, great. I have done a version of my current role at other traditional media companies (A&E Television Networks, Viacom/Nickelodeon and Discovery Communications) and more importantly at Taboola where I was a senior executive for over seven years prior to joining Seeking Alpha. And now, of course, the challenge would be securing enough credit to do so. (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. Or, is short the stock, and that's fine. During this time, the EPS has moved from $2.16 per share to $5.67 per share for the trailing 12 months. 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. Seeking Alpha is the world's largest investing community. 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. 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. Demand for our power-only service offering remained strong and provides a strategic advantage compared to traditional brokers. And as we get more clarity around that, the next time we release third quarter, we'll obviously make an adjustment based on what we know then. I joined Seeking Alpha as VP of Global HR in January 2021, to lead the companys people practices and translate our business vision into HR initiatives that improve performance, growth, and employee engagement. And analysis articles that focus on a specific stock are still free in the first 10 days. Did this happen because you are an investor? But I think sequentially we'd expect rates to be stable. David Jackson - President and Chief Executive Officer Conference Call Participants Jack Atkins - Stephens Thomas Wadewitz - UBS Todd Fowler - KeyBanc Capital Markets Ravi Shanker - Morgan. David Jackson is the founder and CEO of Seeking Alpha. 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. You have to have meaningful scale of trailers and you have to have them scattered all over the country like we do. 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. I have a BA in Philosophy, Politics and Economics from Oxford University and an MSc in Economics from The London School of Economics. Founded in 2004 by David Jackson, Seeking Alpha is a crowdsourced investment research platform. We have slides to accompany this call that are posted on our investor website. And so -- and that has been effective in every single cycle since 1980. I joined Seeking Alpha in June 2021. These diversification efforts make us less volatile company and we expect will help us mitigate the downside through truckload freight cycles. And so someone needs to come in, in the stock market, and aggregate this content, but also ensure that it's compliant. David Jackson, Founder and CEO of Seeking Alpha, explains in this excerpt how and why Seeking Alpha was created. 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. And again, it's one question per participant. Please. In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. Thank you, sir. Well, right now, high energy prices is a huge hurdle for small carriers and it doesn't appear to be changing meaningfully anytime soon. Our LTL business showed great improvement and ran the 70s for the first time. Intermodal margins will remain double digits and we expect to see volumes begin to improve on a year-over-year basis in the third quarter. Well, virtually every one of those factors is not the same and is different this go around. Click on "link portfolio" to sync your brokerage account by using Plaid. 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. 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 . And when I think about rate sequentially, I think the one wildcard is what does the fourth quarter look like. Im married with five children, and live in Raanana, Israel. Seeking Alpha is a crowd-sourced content service for financial markets. Please disable your ad-blocker and refresh. So by the way, I think that's a great question for us to discuss. So just a difficult comp from a year ago. Look at how our businesses perform relative to kind of what it's been like for the smaller carriers in the broader irregular route market, particularly those that were overly reliant on spot business. At the same time, new technologies were creating the possibility of a . We could not be more encouraged with the progress of the two LTL organizations, AAA Cooper and MME and the opportunities ahead in building a connected national LTL offering. If you have an ad-blocker enabled you may be blocked from proceeding. During the quarter, revenue per tractor grew 11.1%, driven by a 21.2% increase in revenue per loaded mile and a 6.6% decrease in miles per tractor. Do you think that we're kind of setting up for a fairly sharp fall-off in freight? Seeking Alpha. And again, our tax rate is expected to be around 25% for the full year. I need to understand how this happened. I wrote this article myself, and it expresses my own opinions. Let's look at what you get for your money in our Seeking Alpha review. And really how the fourth quarter plays out will play a big role in setting the stage for what those changes could look like going forward. That gets us very excited. Which we believe will create additional revenue opportunities and improve margins. I bring over 14 years of finance experience to Seeking Alpha, in shaping and leading finance operations and teams. But boy oh boy, that's where we add the most value to our customers. Because I mean I'll just, I'll just give you one kind of example, which is a lot of what we've been thinking about over the last year. Half the team is in Israel and half in Ukraine. Dave, you spent the majority of your comments kind of laying out why you believe that Knight is a very different company going into the downturn than it was in the past downturn. Yes. Our team continues to act with agility and move with the market. Sylvie, we will turn it back to you to conclude. As these businesses grow and develop, we will evaluate whether it makes sense to aggregate some of these businesses as a separate reportable segment. For the quarter, revenue excluding fuel surcharge was $224 million and the adjusted operating income was $47.8 million. 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. Hey, thanks guys. 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. Hey, Dave. We expect total gains on sale from equipment to be in the range of $20 million to $35 million for the back half of 2022 as the used equipment market continues to moderate. 2. Don't have a Profit.ly account? 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. To achieve a 78.7% OR just one year after the acquisition, while also adding MME to the business is remarkable in our opinion. And a case could be made with the kind of the mismatched inventories in many cases that are out there, the lack of warehouse space, the tremendous need for trailers that going into this cycle, there's probably even more value on the nationwide trailer network. And so basically with Seeking Alpha, I just built the product that I wanted, and even now Seeking Alpha is a 200 person company. 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. 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. David Jackson's Analysis | Seeking Alpha Unlock your true investor potential with Seeking Alpha Premium today David Jackson Follow Contributor since 2003 5.17K Followers 164 Following. So I think that will, obviously, impact the year-over-year change. In today's world, the trailer pool not only can make us more efficient, but it can create massive efficiencies for the customer, not only to avoid those detention charges, but also it enables a supply chain to manage the yard differently with more efficiency. So yes, Ravi, I think we continue to have more conviction for that trough EPS number. Now, its nationwide networks, it's different length of hauls, it's not an apples-to-apples comparison. So just -- our spot exposure. Thanks, Ravi. And you saw a need, or did this happen as a result of, you are a techie. View People Contact Information. A subscription to Seeking Alpha Premium unlocks thousands of research reports on nearly every stock you may be interested in, making it a unique and invaluable research tool. The charts on slide three compare our consolidated second quarter revenue and earnings results on a year-over-year basis. Okay. Our R&D teams deliver cutting-edge technology based on robust processes and best practices, using agile software development methodology. Yeah. We anticipate that sourcing and retaining drivers will continue as it has been -- continue to improve as we have seen thus far as it has been particularly challenging for small carriers and we are seeing signs of drivers looking for new opportunities. If you have an ad-blocker enabled you may be blocked from proceeding. Slide nine illustrates the strong growth in our businesses that are included in the non-reportable segment. While rail service remains a challenge, we did see meaningful improvements in street and rail velocity in many corridors. I previously served as a Controller at Nice Ltd., a publicly traded company that provides cloud platforms for AI-driven business solutions. 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. 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 Third party carriers prefer power-only business because it saves them hours at each load and unload location, lowers their capital investment and risk, reduces their operating costs and gives them access to freight that historically wouldn't be able to participate in. Im now Seeking Alphas Chief Technology Officer. Peter Way Associates: Provides investment professionals with forward-looking, market-derived Risk:Reward tradeoff assessments for widely held and actively traded common stocks and ETFs.Ryan. Fabolous was born John David Jackson on November 18, 1977 and is of Dominican and African-American descent. We expect that demand may moderate as the consumer digests and deals with higher inflation and uncertainty in the economy. Do you kind of feel more confident in that $4 floor in earnings? They've proven that out. All this contributes to Jackson Wang's net . Just to make sure that when we refer to power-only, that's understood. 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. I love navigating through complex laws and regulations to distill practical business solutions. Source . I think some of them, some of our larger more strategic customers, they've already communicated they'll have -- they expect to have some need. 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. 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. 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. I joined Seeking Alpha in 2014. Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may apply. Don't treat them as people who need to be told what to do. We now expect full year 2022 adjusted EPS to be within the range of $5.30 to $5.45, which is an increase from our previous quarter's guidance of $5.20 to $5.40. Adam, anything? Terms of Use | Market Data Disclaimer | Privacy | Do not sell my personal information. For the quarter, we had a 91.8% increase in revenue and a 615% increase in operating income. Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. Hey, good afternoon, and thank you for taking my questions. Now on to the next slide. Where Is the contrary opinion? Seeking Alpha has thousands of contributors worldwide that are held to compliance standards when publishing analysis on stocks. My hobbies include reading history and tormenting my children with terrible dad jokes. David Jackson Founder & CEO at Seeking Alpha About David Jackson is the founder of Seeking Alpha. And we believe this approach is very welcoming to other LTL companies who may choose to join the network. And then also not looking for guidance, but any thoughts on how contract rates will progress into 2023, just given where the spot market is right now? 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. 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. On a year-over-year basis, our truckload revenue excluding fuel surcharge grew 11%, while our operating income grew over 22%. Operating income increased by 143.8% as the operating ratio improved from 95% to 89.3%. Prior to that, I worked at an international department of a leading law firm counseling a range of tech companies and venture capital funds. We expect contraction in supply and are already seen it, and expect that to continue as the year proceeds as carriers deal with depressed spot rates combined with high energy fuel prices, higher maintenance and equipment costs and rising interest rates, which not only makes it difficult for those that are highly leveraged, but also disincentivizes new entrants to the market. VP HR. Ladies and gentlemen, this does indeed conclude today's conference. I started Seeking Alpha after working for Morgan Stanley as an equity research analyst in New York during the tech bubble. There is no headhaul, backhaul, it's the same. This followed two years as Nices Revenue Accountant. Yes. More recently, we have demonstrated our ability to improve the logistics business and tap into synergies between truckload and LTL. Seeking Alpha focuses on stock investing. So, I guess, should we think about the truckload piece as a normal sort of down cycle, which I think we would view sort of contract rates maybe declining as much as what we've seen from spot? And so I would say that LTL has got ways to go. 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. So, Adam, just to clarify though, it doesn't sound like you've got a lot built in for a lot of transactional opportunity into the fourth quarter. The estimated Net Worth of David A Jackson is at least $11.5 Million dollars as of 31 May 2022. Service 42. I think Jack, I'd also add. I appreciate that. At the same time, new technologies were creating the possibility of a different approach to equity research, based on crowdsourcing and community. Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. Well, detention charges, they don't care. Please disable your ad-blocker and refresh. What's your best sense of how this evolves? Following our commentary, we will answer as many questions as possible. Next to Slide 11. I think today we're probably down closer to the mid to low teens in terms of our exposure to the spot market. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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. 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. Please go ahead. 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? 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. Each of the brands has its own unique competitive advantages, whether that's based on the region or doing more expedited or in some cases a little longer haul. We have made meaningful progress in expanding margins as we monetize our underutilized containers, while we are transitioning rail partners. First is to introduce new profitable revenue streams with lots of growth runway that further diversify our company. 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