Knight’s Third-Quarter Earnings Decline

Truckload carrier Knight Transportation’s third-quarter profit fell to $14.5 million or 17 cents a share, from $18.9 million or 22 cents a year ago.

Revenue rose 3.2% to $180.3 million, the company said late Wednesday.

“The third quarter presented the most difficult operating environment in several years for the execution of our business model based on leading growth and profitability,” Chairman and Chief Executive Officer Kevin Knight said in a statement.
 
The company had issued a warning last month that its earnings would be 18 to 21 cents per share, due to a softening freight market.

Knight is ranked No. 40 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.