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. Whether they're bullish or bearish. 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. So that's a little bit of color there. The broader rates look like, peak to trough were down 50%, where contract during that same peak to trough were down 5%. And the [indiscernible] rate is $60 an hour. 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 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. Seeking Alpha is another excellent premium subscription service. 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. Powered by the wisdom and diversity of crowdsourcing, millions of investors connect to discover and share investing ideas, discuss. Did this happen because you are an investor? So, you don't expect people to be unbiased, right? We expect these services to continue to grow and provide us with income streams that are less prone to volatility through economic cycles. 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. Im now Seeking Alphas Chief Technology Officer. Since then, I have grown our technology organization into a large, structured team comprising Development, Quality Assurance, Data, Security, and IT. This followed two years as Nices Revenue Accountant. 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? We haven't quite got to $1 billion, we're on our way to $1 billion a year run rate for that to be the big driver of the earnings for the business. Gross margin also expanded to 24.4% in the quarter, compared to 15.7% last year, leading to an 82.2% adjusted operating ratio. Feb. 18, 2014 -- Investment research website and blogging forum Seeking Alpha is in hot water after an anonymous blogger revealed that billionaire David Einhorn was secretly buying up shares in a tech company. 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. Our Logistics segment continues to grow at a rapid pace, while expanding margins. During the second quarter of 2022 our truckload segment grew revenue 11.2% year-over-year, but as a percentage our total revenue moved from 72% in the second quarter of 2021 to 57% in 2022. So historically, we've said that broader economic GDP demand moves in tens of basis points, but supply seems to swing in the hundreds of basis points. 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. 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. 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. As I've used it, I haven't seen that, and that's something I think you need to guide me through when we do this. Next question will be from Ravi Shanker at Morgan Stanley. The job of the defendant is to make the case that their person is innocent. Now we are supporting mutually -- our mutual acquired LTL companies as they connect their networks, while preserving brand, culture and relationships. Strong earnings have driven increases in our free cash flow, which was $1.1 billion through the second quarter over the trailing 12 months. And that's all before we get to the dead horse that we keep beating that is, trailers matter, trailers make a difference. Start Your Seeking Alpha Premium Free Trial. Across all of our brands, we have a tremendous team of drivers, shop technicians and office personnel. I appreciate that. Operating income increased by 143.8% as the operating ratio improved from 95% to 89.3%. There really isn't much that we haven't hit from our larger customers. We will answer as many questions as time allows. For the quarter, we had a 91.8% increase in revenue and a 615% increase in operating income. 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? Daniel Hochman. Please go ahead. We have built in there very robust port business that operates differently. Our adjusted operating ratio of 78.9% was a 200 basis point improvement over the prior year and was the fourth consecutive quarter in the 70s. Now this concludes our prepared remarks. Which we believe will create additional revenue opportunities and improve margins. We are seeing significant improvements in revenue and income growth in each of these areas. Click the follow button if you like this video so you dont miss any of our future video releases. The charts on slide three compare our consolidated second quarter revenue and earnings results on a year-over-year basis. It is not the same to have one truck and one driver show up that have to be unloaded immediately versus somebody who staged hundreds of trailers at a customer facility and give them all kinds of efficiencies. We expect that demand may moderate as the consumer digests and deals with higher inflation and uncertainty in the economy. For the quarter, revenue excluding fuel surcharge was $224 million and the adjusted operating income was $47.8 million. 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. Good afternoon. But I think sequentially we'd expect rates to be stable. David Jackson is the founder and CEO of Seeking Alpha. I get that. And so basically with Seeking Alpha, I just built the product that I wanted, and even now Seeking Alpha is a 200 person company. Seeking Alpha is an investment research platform designed for intermediate to advanced investors who want cost-efficient, impartial, and quantitative information. Now on to Slide seven. Well, virtually every one of those factors is not the same and is different this go around. Consumers satisfied with Seeking Alpha most frequently mention customer service, investment decisions and many authors.Seeking Alpha ranks 7th among Stock Trading sites. Our expansive trailer network allows our customers the ability to optimize thorough our warehouse space and labor costs. Okay. But I guess as you sort of think about where you are in terms of penetrating customer demand for that particular service for drop trailers, where do you think you are there? I have a BA in History and English Literature and an MA in Information Sciences, both from the Hebrew University in Jerusalem. 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. And so, all indicators are that supply is contracting already as we speak. Two is to leverage existing expertise in areas where we've proven industry leading results, such as risk management, maintaining equipment and purchasing. Israel 581 followers 500+. Abby Estikangi-Carmel . I left Morgan Stanley, and immediately started working on Seeking Alpha. We believe our scale in trailers is a competitive advantage and provides our customers capabilities that are extremely difficult to replicate. Paul Jelinek. Thank you. Demand for our power-only service offering remained strong and provides a strategic advantage compared to traditional brokers. The next few slides will discuss each segment's operating performance starting with truckload on Slide five. Is Seeking Alpha Worth Subscribing To? Now on to Slide three. At the same time, new technologies were creating the possibility of a . 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. Well, that's completely unacceptable and would never work within supply chains. Well, detention charges, they don't care. Thank you, Adam, and good afternoon, everybody. But for the jury there the whole system ends up being really unbiased, and so that's the philosophy of Seeking Alpha. [Operator Instructions]. I am a qualified attorney in Israel and New York. The estimated Net Worth of David A Jackson is at least $11.5 Million dollars as of 31 May 2022. Okay. The nurturing of so-called community with free content and social media aspects built site participation and popularity. There isn't warehousing in between. Hey, great. Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. Log In. We found tremendous interest in our offerings from third party carriers that are interested in purchasing insurance and maintaining their equipment in our nationwide shop network or leasing equipment and leveraging our buying power to purchase fuel. Or, is short the stock, and that's fine. 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. We will get to one question per participant. Click HERE. And so, every quarter that goes by between now and whenever the bottom of a cycle is, yes, we feel better and better about the trough that that floor continues to rise. 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. We expect continued decline in non-contract truckload opportunities. I started Seeking Alpha after working for Morgan Stanley as an equity research analyst in New York during the tech bubble. And maybe there's a reason to think contract rates could kind of bottom out at a much more shallower decline? Also several additional projects have already begun and are in various stages for 2023 and beyond. Yeah. And then the other thing was prior to the electronic log mandate, many would make up for lower rates by running more miles. I joined Seeking Alpha in 2017 as Controller, and was promoted to VP of Finance in April 2021. Password. But I personally am deeply involved in our product because I use it. Im an experienced HR executive with over 18 years of experience in leading global HR teams across multiple business units. We have used the recent bid season to develop a freight network that better aligns with the Union Pacific network, with much of that volume coming on throughout the third quarter. Customers continue -- we expect that customers will continue to secure trailer pools as they maximize efficiencies in their supply chains. We appreciate everybody's time today and your interest in our company. Tractors, very similar. 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. Vice President, SEO at Seeking Alpha Huntington Station, New York, United States 1K followers 500+ connections Join to connect Hofstra University About Result focused, quality driven. I appreciate it. Sylvie, we will turn it back to you to conclude. And then, suddenly, restaurant reviews moved to Yelp. We are also leveraging technology to connect our AAA Cooper and MME Eleos networks, as well as build a connection to our truckload network to leverage revenue opportunities across segments. David Ganek is a man on a mission, a hedge funder who believes he was wronged by an overzealous prosecutor who raided his offices in 2010 and charged the . So I guess. 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. Some tools you can start utilizing if you sign-up to Seeking Alpha, include: Custom virtual portfolio tracker Link and analyze your actual portfolio So for example, you've got the electronic logs. Do you see where I clicked in the navigation. [Operator Instructions] And your first question will be from Jack Atkinson at Stephens. But boy oh boy, that's where we add the most value to our customers. The larger carriers, we have been moving towards trailer pools for many years, because it makes us more efficient. Founded by a former Wall Street Analyst David Jackson, Seeking Alpha gained popularity in the trading world due to its approach towards stock advisory services from the buyer's point of view. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. Appreciate it. 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. Seeking Alpha is . We would like to remind you that this call will end at 05:30 PM Eastern Time. So hopefully that answers your question, Chris. 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. Im married with five children, and live in Raanana, Israel. Please go ahead. Since the 2017 Swift merger, we have invested $1.6 billion in acquisitions, making acquisitions remains a high priority for us. We expect load volume to increase and margins to remain double digits in the back half of the year. Spot would certainly be one of them, but we react to all sorts of different customer needs. The chart on the right highlights the percentage of revenue during the second quarter of 2022 from each of our four segments, as well as the percentage of revenue from our other services, which include our rapidly growing insurance, equipment and maintenance, equipment leasing and warehouse services. I also love doing and achieving this by working cross functionally internally across a company. 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. Once again, thank you for participating. And your next question will be from Bert Subin at Stifel. 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. In 2020, summer of 2020 you saw some of the cheapest fuel we've seen in --certainly in oil prices, maybe in ever in the modern era. Thanks. It's not, okay, we're going to put our heart and soul into LTL and we're going to forget about full truckload. 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 you've seen us do that with a good return. Where Is the contrary opinion? So still well above where normally we were, but there has been a huge falloff in buyers and people are willing to do that. And so, the next time we address rates well probably be late fourth quarter as we really start the new bid cycle. Seeking Alpha focuses on stock investing. 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. 2Q is an excellent quarter for LTL. We have slides to accompany this call that are posted on our investor website. You saw the gross margin of better than 24% in our logistics segment. 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. 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. Thanks for that question, Jack. Find David Jackson's articles, email address, contact information, Twitter and more Please go ahead. 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. 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. They've proven that out. And so, that being said, I would say that we've been pleasantly surprised at the magnitude of the synergies that are available in both a large TL that has a few advantages going forward with -- working with LTL. Chris, we're going to answer this in record time, because we're down to -- we're about out of time right now. If you've been thinking about getting it, there's no better time than right now. You have a jury who listens to both sides of the case, always. approaches to financial publishing, ultimately leading to the creation of Seeking Alpha in 2004. 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. Premium Portfolio So as a result of that, today in the Knight and Swift, nine out of every 10 loads that we haul involves a trailer pool on at least one side, if not both. There is no headhaul, backhaul, it's the same. Let's look at what you get for your money in our Seeking Alpha review. This offer expires soon! We have committed volumes that run through power-only just with contracted rates, similar to how we would run most of our business on our truckload -- on the asset side. 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. And I think a classic example to that would be, just look at the first half of this year. 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? Please go ahead. Working at Taboola reinforced my desire to continue doing what I love professionally but also if possible with an Israeli company. That's where the most value is created in the supply chain. So we'll try and do our best to answer that. 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. Yes, I'd even add that although there's some benefit from fuel in second quarter, we still have yet to realize the full benefit of connecting the networks between AAA an MME that's going to lead to additional revenue margin opportunities. Qualified attorney in Israel and new York during the tech bubble 2017 Swift merger, we have a jury listens... Years of experience in leading global HR teams across multiple business units to. 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