US trucking's new normal?
Knight-Swift Transportation has reported its results for Q3/2022. Its operating income amounted to USD 265.4 million, down 1.7% compared to the same period last year, although the group's revenue grew by 15.5%. These trends continued into October, as supply chains appeared to be catching up and adjusting for uncertainty in consumer demand.
The truckload segment grew its revenue by 3.7%, while revenue per shipment increased by 9.3% in the LTL segment, excluding fuel surcharge. The intermodal business reported a rise in revenue of 16.0%, while operating income improved by 34.5%.
To position the group for continued growth in the intermodal segment, Knight-Swift Transportation acquired around 700 more containers during the first three quarters of the year. The company is anticipating further growth in Q4/2022. (sh)