Knight’s 3Q Income Declines

Truckload carrier Knight Transportation’s third-quarter profit fell to $13.1 million, or 16 cents a share, compared with $16 million, or 19 cents, a year ago.

Revenue dropped to $173.1 million, from $209.7 million a year ago, the company said late Wednesday. Revenue excluding fuel surcharges fell to $150.2 million.

“There continues to be evidence that many, if not most, truckload carriers are plagued with weak balance sheets, aging fleets and shrinking revenues,” said Chairman and Chief Executive Officer Kevin Knight.

“We expect the challenging truckload market to yield opportunities to continue to capture market share over time,” he said in a statement.

Knight is ranked No. 38 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.