PHOENIX — Trucking operator Knight Transportation Inc. said Wednesday that its first-quarter profit rose on increased revenue from fuel surcharges and freight volumes.
CEO Kevin P. Knight said the market for truckload freight grew stronger during the quarter and appeared to be firmly in recovery.
During the quarter, Knight earned $12.3 million, or 15 cents per share, compared with $11.7 million, or 14 cents per share, in the same quarter a year earlier.
Revenue rose 11.4 percent to $165.7 million.
Analysts surveyed by Thomson Reuters expected profit of 15 cents per share on revenue of $159.2 million.
Truckload operators such as Knight carry loads for one customer at a time, compared with less-than-truckload firms, which typically combine freight for several customers in the same truck.
Kevin Jones of The Trucker staff can be reached for comment at firstname.lastname@example.org.
Follow The Trucker on Twitter at www.twitter.com/truckertalk.