Knight Transportation Inc. has increased its profit forecasts for the fourth quarter of 2013 and the first quarter of 2014, citing better performance than it had previously expected.
Knight's fourth-quarter net income will be between 24 and 25 cents a share, compared with the prior estimate of 20 to 23 cents, the truckload carrier said in a Jan. 21 statement. In the first quarter, it will likely earn 19 to 21 cents a share, slightly higher than the 18 to 20 cents it previously predicted.
In the fourth quarter, the carrier saw increased revenue per tractor, growth in its non-asset business and more effective cost management, it said.
"We believe this is a result of improved freight demand and meaningful progress on several internal initiatives focused on improving production, recruiting and developing driving associates, providing industry-leading service and intensifying our cost control efforts," Knight said.
