Actual results may differ. On a year-over-year basis, our truckload revenue excluding fuel surcharge grew 11%, while our operating income grew over 22%. Please. 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. 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. To achieve a 78.7% OR just one year after the acquisition, while also adding MME to the business is remarkable in our opinion. Is this happening to you frequently? But I guess, can you help us think about how much of your truckload book right now is spot versus contract? 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. 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. 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. So I think that will, obviously, impact the year-over-year change. Two is to leverage existing expertise in areas where we've proven industry leading results, such as risk management, maintaining equipment and purchasing. One of the unique things about what its impact on rates are is in freight rates you have headhaul and backhaul markets. He left in early 2003 to manage money (long/short) and explore new. As these businesses grow and develop, we will evaluate whether it makes sense to aggregate some of these businesses as a separate reportable segment. Powered by the wisdom and diversity of crowdsourcing, millions of investors connect to discover and share investing ideas, discuss. David is related to Sara L Jackson . 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. We empower investors to make the absolute best investing decisions by leveraging our independent and balanced stock research, fundamental analysis tools, crowdsourced debate, reliable news, and actionable market data.Our research is created by investors, for investors. David Jackson launched it as a way to offer all investors access to very valuable content, from stocks, mutual funds, and ETFs to cryptocurrencies and commodities. 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. 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. 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. Or is this just not the right way to think about at this time? I would also point out that I think maybe it's unfair that we've been painted with a broad stroke that all were truckload and we've great lengths to try and point out the differences that we have, these aren't superficial, these are legitimate earnings streams. 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. Thanks. Next question will be from Ravi Shanker at Morgan Stanley. So we'll continue to make these adaptations to the new market as we move throughout this year and as we prepare for whatever 2023 might hold, but the guiding principle behind all of this, Jack, is what is most efficient? Daniel Hochman. David Jackson NBQ807 Add me Team Facebook Twitter Nationality United States Residence Jacksonville, FL, United States David Jackson's GPI Rankings Live Best Cash $ 598,173 All Time Money $ 3,825,519 Tournament Results of David Jackson Ranking history GPI PoY 2022 GPI rank Rank 2014 2016 2018 2020 2022 0k 20k 40k 60k 80k Highcharts.com Plot Data 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. At this time, I would like to welcome everyone to the Knight-Swift Transportation Second Quarter 2022 Earnings Call. So by the way, I think that's a great question for us to discuss. I have a BA in Philosophy, Politics and Economics from Oxford University and an MSc in Economics from The London School of Economics. And so -- and that has been effective in every single cycle since 1980. Hey, Dave. And so, because it's so punitive and prior to the electronic log mandate just a few years ago, it was not enforced and carriers just absorb that. Thank you, Sylvie. I understand there's a lot of variability, but right now in the current guidance, it doesn't sound like you've got a big fourth quarter planned right now? Okay, so you see as a premium subscriber under every headline you get this label here that tells you what the person's view of the stock is. 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. Operating income increased by 143.8% as the operating ratio improved from 95% to 89.3%. 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. Well, virtually every one of those factors is not the same and is different this go around. But we very much like the business. 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. consolidated second quarter revenue and earnings results on a year-over-year basis. All the stock advisory services and recommendation previously available . Certainly, we have more technology to develop, but between our ability to connect our systems across brands, our enhanced visibility and utilization of trailers and the actual insights, our reporting capabilities provide our team we are leveraging tech to successfully navigate the market, execute on our strategies and deliver on our relentless efforts to be the most productive and have the lowest operating cost in the industry. And we've very much enjoyed working with our partners, the businesses there and they're doing a phenomenal job. Okay. And so, there's all kinds of cost savings. No, that's just our employees. Investors are directed to the information contained in item 1A Risk Factors or 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. 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. We appreciate everybody's time today and your interest in our company. And when I think about rate sequentially, I think the one wildcard is what does the fourth quarter look like. Previously, David was the Researcher at LinkedIn. [Operator Instructions] And your first question will be from Jack Atkinson at Stephens. VP Product. Kind of any helpful on where that floor is would be helpful. Start Your Seeking Alpha Premium Free Trial. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. Good afternoon, Dave. So that would constrain supply. There isn't warehousing in between. I am not receiving compensation for it (other than from Seeking Alpha). Our mission: Power to Investors. 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. 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. I have no business relationship with any company whose stock is mentioned in this article. So still well above where normally we were, but there has been a huge falloff in buyers and people are willing to do that. Thank you, Adam, and good afternoon, everybody. Half the team is in Israel and half in Ukraine. Whether its a major strategic partnership or acquisition, I genuinely believe all successful businesses can only be realized with a high performing and cohesive internal team. So yes, Ravi, I think we continue to have more conviction for that trough EPS number. 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. Please go ahead. The broader rates look like, peak to trough were down 50%, where contract during that same peak to trough were down 5%. Originally, he wanted to become a professional baseball player, but in 1964, he left that dream behind to become one of the founding members of The Jackson 5 where he provided the . Thanks, Ravi. So what you're seeing is, you're seeing us tap into operating leverage that we have, that we uniquely have, because we're more than twice the size of the next closest in terms of trailer fleet. My career started when I fell in love with coding in high school. Yes, sure. 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. And you saw a need, or did this happen as a result of, you are a techie. So just a difficult comp from a year ago. 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. Since then, Seeking Alpha has grown to be the leading Web 2.0 finance site. Our strategy continues to focus on diversifying our business, while improving both margin and revenue in each segment. And Adam, I understand your comment that it's mostly difficult compares. All this contributes to Jackson Wang's net . This conference call and presentation may contain forward-looking statements made by the company that involve risks, assumptions and uncertainties that are difficult to predict. Schedulers may also want to investigate driving predecessors and successors. 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. Well, right now, high energy prices is a huge hurdle for small carriers and it doesn't appear to be changing meaningfully anytime soon. What Is Seeking Alpha. Net Worth: $200,000Jackie Jackson, born Sigmund Esco, is the eldest brother of the Jackson clan and the second-born child of Joe and Katherine. Seeking Alpha is another excellent premium subscription service. I was promoted to VP Product in 2020, and I now lead all the product and UX initiatives. Please. Today, we plan to discuss topics related to the results of the second quarter, provide an update on current market conditions, and update our full year [2020] (ph) guidance. To Jackson Wang & # x27 ; s net cost savings and backhaul markets team is in and... Question will be from Ravi Shanker at Morgan Stanley, while improving both margin and revenue in each.! Helpful on where that floor is would be helpful compensation for it ( than. Of crowdsourcing, millions of investors connect to discover and share investing ideas discuss. 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