Knight-Swift Transportation (US:KNX)2023-02-10 00:54Financial Performance (Q3 2022 vs Q3 2021) - Operating revenue increased from $491.14 million to $547.828 million[5] - Revenue, excluding fuel surcharge, increased from $451.824 million to $477.428 million[5] - Operating loss increased from $6.635 million to $22.74 million[5] - Net loss attributable to controlling interest increased from $5.478 million to $19.79 million[5] - Adjusted net loss attributable to controlling interest increased from a profit of $3.43 million to a loss of $19.63 million[5] - Truckload operating ratio increased from 98% to 105.6%[5] - Brokerage operating ratio decreased from 101.6% to 94.9%[5] - Overall operating ratio increased from 98.6% to 104.2%[5] Truckload Segment - Truckload revenue, net of fuel surcharge, increased 11.3%[15] - The company incurred $30.1 million in prior period claims and other costs[12] Brokerage Segment - Brokerage revenue declined 16.9% from $90.82 million to $75.487 million[17,33] - Load count decreased 33.6%[17] - Gross margin increased from 11.2% to 20.5%[33] Cost Reduction Initiatives - The company's Realignment Plan has identified $28 million in annualized cost reductions[38] - The company expects full year net capital expenditures of $150 million[45]