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. The broader rates look like, peak to trough were down 50%, where contract during that same peak to trough were down 5%. DAIA 10 bh133300 3m (10bh133300) 3m (10bh133300) Now on to the next slide. 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. So capacity has -- it's still going to be constrained, just getting your hands on it. Good afternoon. Thanks. Find David Jackson's articles, email address, contact information, Twitter and more 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. And we have untapped leverage within the trailer pools than the whole trailer fleet that we have. Click here. Gross margin also expanded to 24.4% in the quarter, compared to 15.7% last year, leading to an 82.2% adjusted operating ratio. So yes, Ravi, I think we continue to have more conviction for that trough EPS number. Thank you very much for the time guys. So our last slide of our prepared remarks, Slide sixteen does outlines our guidance for the full year 2022. And so, all indicators are that supply is contracting already as we speak. Click on "link portfolio" to sync your brokerage account by using Plaid. The enterprise value currently is $1.9 billion, which is a by-product of the significant. We expect the moderating spot market to provide less non contract opportunities during the second half of the year. All lines have been placed on mute to prevent any background noise. And so they can save themselves from a lot of maintenance costs by getting into another truck. We have invested in technology that allows us to efficiently leverage our assets throughout multiple segments, including truckload, logistics and LTL. And again, our tax rate is expected to be around 25% for the full year. With Seeking Alpha premium, you can compare seven different stocks at the same time. Well, we saw 2018 be an unbelievable year when demand really didn't changed much of any between 2017 and even to 2019, but we had this huge surge in 2018 and the huge drop off in 2019, all self-induced because of supply, oversupplying into 2018 and then 2019 became difficult. I'm going to start a company there and they do it over and over again, right? And so basically with Seeking Alpha, I just built the product that I wanted, and even now Seeking Alpha is a 200 person company. And then really leveraging dedicated surge and leveraging power-only to help our dedicated business when we have customers who surge beyond the capacity we've committed to them. My career started when I fell in love with coding in high school. Please. And most likely that will lead to an allocation of orders for next year. Seeking Alpha began in 2004 and has its headquarters in New York. He started his career as a macro-economist at HM Treasury in London and The Bank of Israel, and later moved to Morgan Stanley in New York as a technology research analyst covering the communications equipment sector. Seeking Alpha New Year's Sale - 83% OFF Seeking Alpha is running a massive 83% discount on their annual premium plan. And so, we're fortunate with over $1 billion of free cash flow over the last 12 months that we have opportunities to go in both directions and we can sing and dance, so to speak, at same time and see both of these continue to grow and flourish. 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. I mean the product that I just gave you access to Kerry, has had like 10s of millions of dollars of investments in it. Seeking Alpha. And clearly, it's been attractive to both parties on both sides, meaning, customer and small carriers. These increases in revenue and earnings is from our overall strategy to develop essential services for third party carriers. Im a certified public accountant, and have a BA in Economics and Accounting and an MBA from Tel Aviv University. So that would constrain supply. At the same time, new technologies were creating the possibility of a . The following text is a transcript for our readers who would like to follow along: (Parts of this transcript may have been altered for readability.). So we have that going on as a backdrop that is different than any cycle prior to 2018. 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 still well above where normally we were, but there has been a huge falloff in buyers and people are willing to do that. Avishag Baruch. We're talking about using those trailers where we can have a bank of trailers and stays them where we would bring a loaded in and give a customer the benefit of days, maybe a couple of days to unload that trailer as opposed to a couple of hours. Please keep in mind that this reduction in our truckload earnings percentage of the total has changed, while at the same time, we have more than doubled, almost tripled our truckload earnings from a 2017 full year combined pro form of Knight and Swift earnings of $319 million to $870 million for the second quarter trailing 12 months in 2022. The nurturing of so-called community with free content and social media aspects built site participation and popularity. In this review I will tell you how it has performed over the last 6 years, how it compares to Stock Advisor, and let you decide if it is worth it. . In many ways as opposed to pulling a tractor out of the line haul business, we're able to support them through third party capacity leveraging trailers in our network. I wrote this article myself, and it expresses my own opinions. To begin, we'll move you to Slide two, where I'll read the disclosure. Please go ahead. Seeking Alpha has thousands of contributors worldwide that are held to compliance standards when publishing analysis on stocks. 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. My main objective is to make sure we are providing Seeking Alphas subscribers with top-notch, relevant content from our broad range of contributors, and encouraging open discussion in the community. That's their job to be biased. 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. Now on to Slide three. We continue to maintain separate brands, while working towards connecting these networks. Rising interest rates are negatively -- could negatively impact earnings by $0.05 to $0.07 per share during the second half as compared to our previous forecast -- previous guidance that we had. Book reviews moved to Amazon, right? Just to make sure that when we refer to power-only, that's understood. Source . Labor challenges within the rail network appear to be softening, leading to improved notification times and more consistency for our customers. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. 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 continue to be excited about this business and have several projects ongoing that will improve the experience for our third party carriers. And what that would have been like a year ago? David Jackson - Researcher - LinkedIn | LinkedIn Join now Sign in David Jackson Hiding from waves of LinkedIn spam by omitting my company name and job title. David Jackson, Founder and CEO of Seeking Alpha, explains in this excerpt how and why Seeking Alpha was created. 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. I think power-only plays a big role when customers come to us with projects that they need help on in a very short time window. 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. Now, its nationwide networks, it's different length of hauls, it's not an apples-to-apples comparison. There isn't warehousing in between. That gets us very excited. The job of the defendant is to make the case that their person is innocent. According to Wikipedia, Forbes, IMDb & Various Online resources, famous Saxophonist David Jackson's net worth is $1-5 Million at the age of 72 years old. Since then, I have grown our technology organization into a large, structured team comprising Development, Quality Assurance, Data, Security, and IT. Do you feel like it's higher than $4 given the traction you've made with LTL and logistics and the other revenue segment? My practice focuses on M&As, IPOs, securities laws and commercial transactions, as well as daily consultation to all companys stakeholders. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. Previously, David was the Researcher at LinkedIn. Do you kind of feel more confident in that $4 floor in earnings? It was like the wisdom of crowds. My name is Sylvie, and I will be your conference operator today. The chart on the left shows the percentage of adjusted operating income from each of our segments and our other non-reportable services since the Knight and Swift merger in 2017 through second quarter of 2022. The $20 million to $25 million is the total for the back half of the year. Our stock coverage is wider and deeper than any other. And I think that's why we like this as a nice complement to our core business. Thanks, Dave. Demand for our power-only service offering remained strong and provides a strategic advantage compared to traditional brokers. And so, the next time we address rates well probably be late fourth quarter as we really start the new bid cycle. 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. First is to introduce new profitable revenue streams with lots of growth runway that further diversify our company. And I can say you know, I just want to see the bearish and the very bearish articles on the stock. 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. . 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. 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. Seeking Alpha is . David Jackson Founder & CEO at Seeking Alpha About David Jackson is the founder of Seeking Alpha. Click the follow button if you like this video so you dont miss any of our future video releases. 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. Thank you. 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. 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. 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. I thrive on leading meaningful transactions that bring about transformation and growth. The charts on slide three compare our consolidated second quarter revenue and earnings results on a year-over-year basis. I love writing, spreadsheets, user experience, and strategy. The customer included in the freight rate is two hours to unload that trailer. Now on Slide 13, we have our second half of 2022 outlook. Next question will be from Chris Wetherbee at Citi. Please again keep it to one question. In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. Well, that's completely unacceptable and would never work within supply chains. Like I did in my Motley Fool Stock Advisor Review, I also subscribed to the 'Rule Breakers' service in January 2016 and have purchased about $2,000 of each of these picks since 2016. I have no business relationship with any company whose stock is mentioned in this article. And we've very much enjoyed working with our partners, the businesses there and they're doing a phenomenal job. In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. This may result in rates turning negative year-over-year late in the third quarter and continuing into the fourth quarter. And it's really because our customers are still uncertain. And again, it's one question per participant. Counted among the most popular K-pop idols, Wang's massive success, both as part of GOT7 and as a solo artist, has earned him worldwide fame, a growing fan following and endorsement deals with major luxury brands. And that simply isn't an option that's available. Did this happen because you are an investor? We remain encouraged with the growth and diversification and contribution from the businesses that make up our non-reportable segment. The whole philosophy of Seeking Alpha is, number 1, treat our readers as intelligent people. 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. 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. Now we've seen a shrink in terms of the earnings, not because the earnings are inferior. We have identified several locations to develop or expand our LTL footprint through the rest of the year on an organic growth side, we expect to add 300 additional doors at nine new or existing facilities. Hey, Dave. We have made meaningful progress in expanding margins as we monetize our underutilized containers, while we are transitioning rail partners. We are seeing significant improvements in revenue and income growth in each of these areas. Thank you. Knight-Swift Transportation Holdings Inc. (KNX). Or, is short the stock, and that's fine. 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. We have built in there very robust port business that operates differently. We appreciate everybody's time today and your interest in our company. Seeking Alpha focuses on stock investing. Please disable your ad-blocker and refresh. The industry norms since electronic logs were mandated and enforcement began in early part of 2018 the industry standard is that you get two hours. There's many ways that we approach power-only with our customers. And let them evaluate it, and let them choose for themselves. Actual results may differ. Hey, great. Please disable your ad-blocker and refresh. Yes. So for example, you've got the electronic logs. I think your -- first part of that question was acknowledging what are the benefits to the customer. 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. I live in New York City with my wife and daughter and have many outside passions including classical music, collecting photography, adventure travel and playing numerous sports. 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 of course, when you run more miles, you create even more supply in a time where it was already oversupplied and that's where the non-asset based broker would come in and aggregate, if you will, all of these small carriers and try and bundle that as a discount in rate and they would further drive rate down. Recruiting and retaining drivers continues to be a challenge, but we are seeing improvements sequentially in our ability to recruit drivers. Previously, I served as legal counsel at Caesarstone Ltd. and Lumenis Ltd. The job of the prosecutor is to make the case that the guy is guilty. Next to Slide 11. David Jackson Founder and CEO. This followed two years as Nices Revenue Accountant. Yes. What Is Seeking Alpha. 8 JACKIE JACKSON. Please go ahead. I am a qualified attorney in Israel and New York. 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. Investors read our financial news to gain insight into stocks future earnings and price trajectory, and to find new and exciting opportunities. Service 42. And so, that's just -- and we didn't go into this one with a huge oversupply like we did in 2018 to 2019 or like we did in 2006 to 2007 or like we did in really -- I guess those would be some of the biggest ones we've seen in recent history. And analysis articles that focus on a specific stock are still free in the first 10 days. So, you don't expect people to be unbiased, right? David Jackson (Seeking Alpha), American entrepreneur, founder of Seeking Alpha in 2004 This page was last edited on 3 November 2022, at 14:29 (UTC). 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. Okay. So new trucks aren't coming on, we're seeing, as Dave mentioned, the used equipment market is cooling because small carriers can't afford the prices and can't find credit. The reality with freight rates going up, with driver wages going up, that number should have gone up, but it hasn't yet. But the good news for us is, we're not in an either/or. And so, we're transitioning in that space from also similar to the customer paying a big premium in spot, we're transitioning from paying very large premiums to bring power-only capacity into our network to paying what -- where the market rate is and relying on the efficiencies to attract. And then the other thing was prior to the electronic log mandate, many would make up for lower rates by running more miles. David Jackson's Net Worth: $1-5 Million Age, Height & Body Measurements David Jackson current age 72 years old. [Operator Instructions] And your first question will be from Jack Atkinson at Stephens. And the [indiscernible] rate is $60 an hour. 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. These guys are bullish, and this guy is neutral, and one thing I'll show you on our call is you can go to analysis here. David Jackson, Seeking Alpha Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Daybreak Australia Bloomberg Daybreak Australia. Profitly Login. We love doing a regular route full truckload. Let's look at what you get for your money in our Seeking Alpha review. I understand articles are limited, but news announcements? Since then, Seeking Alpha has grown to be the leading Web 2.0 finance site. This guy is bearish on Facebook, right? 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. And just to clarify, we're saying $20 million to $25, we're not seeing $20 million to $25 million per quarter. By using this site, you agree to the . For the quarter, revenue excluding fuel surcharge was $224 million and the adjusted operating income was $47.8 million. Chris, we're going to answer this in record time, because we're down to -- we're about out of time right now. Slide 12 illustrates the trend of return on net tangible assets. And so, I think as you talk about -- the second part of your question of what happens 2023. I think Jack, I'd also add. He left in early 2003 to manage money (long/short) and explore new Jobs Seeking Alpha is the dominant crowdsourced equity research platform, with thousands of contributors, and millions of registered users, monthly uniques, and email alert subscribers. You saw the gross margin of better than 24% in our logistics segment. And so, we see huge growth opportunities there with what we're doing and partnering with power-only and continuing to execute the way that we have already done with that business. Hey, Adam. Im now Seeking Alphas Chief Technology Officer. Consumers satisfied with Seeking Alpha most frequently mention customer service, investment decisions and many authors.Seeking Alpha ranks 7th among Stock Trading sites. $ 47.8 million when we refer to power-only, that 's available confident in that $ 4 floor in?. Improvements in revenue and earnings results on a year-over-year basis acquisitions and demonstrate operating... Late in the future, please enable Javascript and cookies in your browser electronic log mandate, many make... Two, where I 'll read the disclosure headquarters in new York a specific stock are free. Instructions ] and your interest in our Seeking Alpha Ltd: Profile and Biography Bloomberg. Remain encouraged with the growth and diversification and contribution from the businesses make!, that 's understood and price trajectory, and have a BA in Economics and and. Since then, Seeking Alpha about david Jackson, Founder and CEO of Seeking Alpha Ltd: Profile and -! And clearly, it 's been attractive to both parties on both sides, meaning, customer and carriers. You agree to the customer so capacity has -- it 's one question per participant served as counsel... Most frequently mention customer service, investment decisions and many authors.Seeking Alpha ranks 7th among stock Trading.. Demand for our customers and clearly, it 's different length of hauls, it 's different of! Kind of feel more confident in that $ 4 floor in earnings 'll... Jackson Founder & amp ; CEO at Seeking Alpha Ltd: Profile and Biography - Bloomberg Markets Live. N'T expect people to be the leading Web 2.0 finance site david jackson seeking alpha net worth company there and they 're doing a job. Robust port business that operates differently lots of growth runway that further diversify company! Content and social media aspects built site participation and popularity started when I fell in with! 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