Knight-Swift Transportation reports revenues of US $ 1,223 million
Knight-Swift Transportation Holdings Inc. reported revenue of $ 1.223 million in the first quarter of 2021, an increase of 8.7% compared to the same period in 2020.
Today considered the largest trucking company in North America, this company posted a net income for the first quarter of 2021 attributable to Knight-Swift of $ 129.8 million.
Additionally, Knight-Swift Transportation is a transportation solutions provider, based in Phoenix, Arizona.
The company offers multiple freight, intermodal and logistics services using a nationwide network of business units and terminals in the United States and Mexico to serve customers throughout North America.
In addition to its truck loading services, Knight-Swift contracts with third-party capacity providers to provide a wide range of truck loading services to its clients while creating driving jobs for its driving associates and business opportunities for independent contractors.
Knight-Swift
The company’s consolidated revenue, excluding the truck fuel surcharge, grew 10.3% during the first quarter of 2021, as a result of revenue growth in all its reportable segments.
At the same time, Knight-Swift Transportation generated a consolidated adjusted net income attributable to Knight-Swift of $ 139.4 million, representing an increase of 83.0% year-on-year.
In particular, the trucking segment overcame inclement weather and driver hiring challenges during the quarter and improved average revenue per tractor by 7.7%, resulting in a 470 basis point improvement in the operating ratio adjusted to 81.8 % in the first quarter of 2021 from 86.5% in the first quarter of 2020.
On the other hand, the logistics segment increased revenues by more than 50% and operating revenues more than doubled year over year.
Despite weather and service disruptions during the first quarter of 2021, its Intermodal segment achieved year-over-year improvements in operating results, and we anticipate continued improvement in the coming quarters.
Transport
The truck segment includes rough-road, dedicated, refrigerated, accelerated, flatbed and cross-border operations across all of its brands, with 13,130 rough-road tractors and 5,094 dedicated road tractors.
During 2020, Knight-Swift Transportation covered 1.5 billion miles charged for carriers throughout North America, contributing to a consolidated total revenue of $ 4.7 billion and a consolidated operating income of $ 564.4 million.
