Yes. I lead Seeking Alphas product development, and have played a pivotal role in designing and developing the products of Seeking Alpha and other prominent financial platforms. Hey, thanks guys. Please disable your ad-blocker and refresh. I think you alluded to this notion that power-only is really spot only -- spot businesses. It doesn't cost very much more to move it on a truck than it does in intermodal. If you look at the other key components to our business, we have a variable cost in there, whether the cost is the third party carrier, whether the cost is the rail. We believe our scale in trailers is a competitive advantage and provides our customers capabilities that are extremely difficult to replicate. We are seeing significant improvements in revenue and income growth in each of these areas. We're pleased to report meaningful contributions in earnings from each area as noted on the graph. The chart on the left shows the percentage of adjusted operating income from each of our segments and our other non-reportable services since the Knight and Swift merger in 2017 through second quarter of 2022. Next question will be from Chris Wetherbee at Citi. All lines have been placed on mute to prevent any background noise. I live in New York City with my wife and daughter and have many outside passions including classical music, collecting photography, adventure travel and playing numerous sports. I guess, the takeaway, I guess, I'm getting to some extent is, it feels like maybe this, I guess, every cycle is different and certainly Dave you made a good point about why this might be different than previous cycles. Well, right now, high energy prices is a huge hurdle for small carriers and it doesn't appear to be changing meaningfully anytime soon. I was a research analyst for an investment bank in the tech bubble, and I'm not a serial entrepreneur. My Seeking Alpha journey began in 2006 as an article editor, recruited by our first Editor in Chief whose enthusiasm for Seeking Alpha was infectious. We also expect inflationary pressure on driver related cost, equipment costs, cost to maintain equipment, labor and several other items. For the past 15 years I have been representing private and publicly traded international corporations across all industries. Recruiting and retaining drivers continues to be a challenge, but we are seeing improvements sequentially in our ability to recruit drivers. Seeking Alpha fut fonde en 2004 par David Jackson. Well, when you think about -- when you think about the kind of freight that's moving on trucks is by far the most economical way to move still the fast transit times, certainly compared to LTL, airfreight or expedited. Im now Seeking Alphas Chief Technology Officer. Membership fee: $239 per year Free plan available; mobile app Get 50% Off Fortunly Rating Free Plan: Yes Costs: Premium $19.99 per month; Pro $199.99 per month (one-year subscription) Securities: Stocks, ETFs, mutual funds, commodities, cryptocurrencies Years in Business: 18 What caused you to create this thing? Now this slide may be one of my favorite slides for the quarter as our LTL businesses have made significant strides in increasing yield, managing costs and expanding margins. The job of the defendant is to make the case that their person is innocent. Please go ahead. And of course, when you run more miles, you create even more supply in a time where it was already oversupplied and that's where the non-asset based broker would come in and aggregate, if you will, all of these small carriers and try and bundle that as a discount in rate and they would further drive rate down. We've expanded our traditional logistics brokerage, created a power-only service offering, created brand new revenue streams, as have mentioned, with Iron Truck Services and expanded our warehousing services. Seeking Alpha was founded in 2004 by former Wall Street analyst David Jackson. Thank you. Look at how our businesses perform relative to kind of what it's been like for the smaller carriers in the broader irregular route market, particularly those that were overly reliant on spot business. Maybe talk a little bit about what it provides your customers in terms of efficiency gains? Counted among the most popular K-pop idols, Wang's massive success, both as part of GOT7 and as a solo artist, has earned him worldwide fame, a growing fan following and endorsement deals with major luxury brands. Two is to leverage existing expertise in areas where we've proven industry leading results, such as risk management, maintaining equipment and purchasing. VP Product. With Seeking Alpha premium, you can compare seven different stocks at the same time. Now on Slide 13, we have our second half of 2022 outlook. Seeking Alpha is the world's largest investing community. Now on to the next slide. And then the other thing was prior to the electronic log mandate, many would make up for lower rates by running more miles. David Jackson NBQ807 Add me Team Facebook Twitter Nationality United States Residence Jacksonville, FL, United States David Jackson's GPI Rankings Live Best Cash $ 598,173 All Time Money $ 3,825,519 Tournament Results of David Jackson Ranking history GPI PoY 2022 GPI rank Rank 2014 2016 2018 2020 2022 0k 20k 40k 60k 80k Highcharts.com Plot Data And I think a classic example to that would be, just look at the first half of this year. We expect contraction in supply and are already seen it, and expect that to continue as the year proceeds as carriers deal with depressed spot rates combined with high energy fuel prices, higher maintenance and equipment costs and rising interest rates, which not only makes it difficult for those that are highly leveraged, but also disincentivizes new entrants to the market. And then really leveraging dedicated surge and leveraging power-only to help our dedicated business when we have customers who surge beyond the capacity we've committed to them. My practice focuses on M&As, IPOs, securities laws and commercial transactions, as well as daily consultation to all companys stakeholders. Now we are supporting mutually -- our mutual acquired LTL companies as they connect their networks, while preserving brand, culture and relationships. Which Task has which predecessors and who is going to work on which Task. That might sound like a really obvious thing, because, for example, that's the way the whole legal system in America and Western countries work, right? Year-to-date, we have used cash to increase our dividend to shareholders by 20%, repurchased $300 million worth of shares and paid down $86 million in long-term debt and leases. All this contributes to Jackson Wang's net . You know, there are many startup founders who are just incredible people who say okay, where's a really big market ready for disruption? Seeking Alpha is the dominant crowdsourced equity research platform, with thousands of contributors, and millions of registered users, monthly uniques, and email alert subscribers. We acknowledge that we have less visibility on peak season surge as compared to the previous two years. David is related to Sara L Jackson . He started his career as a macro-economist at HM Treasury in London and The Bank of Israel, and later moved to Morgan Stanley in New York as a technology research analyst covering the communications equipment sector. And it's really because our customers are still uncertain. The larger carriers, we have been moving towards trailer pools for many years, because it makes us more efficient. The chart on the right shows our rolling four quarters adjusted earnings per share since the Knight and Swift merger. David Jackson Founder and CEO. The charts on slide three compare our consolidated second quarter revenue and earnings results on a year-over-year basis. I later served in the IDFs Mamram unit (the Center of Computing and Information Systems), and then got a BSc in Computer Science from Bar-Ilan University. I understand articles are limited, but news announcements? Terms of Use | Market Data Disclaimer | Privacy | Do not sell my personal information. So by the way, I think that's a great question for us to discuss. Following our commentary, we will answer as many questions as possible. This may result in rates turning negative year-over-year late in the third quarter and continuing into the fourth quarter. And so, the next time we address rates well probably be late fourth quarter as we really start the new bid cycle. I love writing, spreadsheets, user experience, and strategy. Now on to Slide seven. Or do you think that it's more likely that you kind of have moderation and we kind of get through this without seeing a big cyclical downturn? And we're able to do it not to the detriment of our asset based business that performed, again, with an operating ratio in the 70s. You know if you say, are they biased? Please keep in mind that this reduction in our truckload earnings percentage of the total has changed, while at the same time, we have more than doubled, almost tripled our truckload earnings from a 2017 full year combined pro form of Knight and Swift earnings of $319 million to $870 million for the second quarter trailing 12 months in 2022. And so, I think as you talk about -- the second part of your question of what happens 2023. The best result we found for your search is David L Jackson age -- in Kansas City, MO in the Rosewood neighborhood. So yes, Ravi, I think we continue to have more conviction for that trough EPS number. The following text is a transcript for our readers who would like to follow along: (Parts of this transcript may have been altered for readability.). We expect other revenue and income to grow when compared to prior years, as outlined on Slide nine of this presentation. Ladies and gentlemen, this does indeed conclude today's conference. [Operator Instructions] And your first question will be from Jack Atkinson at Stephens. And that process is well underway already. We also expect LTL demand to remain strong with increases in revenue per hundred weight remaining in the double digits on a year-over-year basis. These estimates represent management's best estimates based on current information available. You saw the gross margin of better than 24% in our logistics segment. 2. I would say, what has made our industry more choppy and more cyclical has been the fact that we grossly oversupply when it's good, and then it takes a little time for that to work off in part, because when the economy starts to sputter just a little bit you see wind at the back of a small carrier to absorb the difficult times by having low energy prices, typically used equipment prices bottom out. Sylvie, we will turn it back to you to conclude. And if we are not unable to answer a question during our call, we will -- you can call us at 602-606-6349. Our strategy continues to focus on diversifying our business, while improving both margin and revenue in each segment. They've proven that out. During the second quarter of 2022 our truckload segment grew revenue 11.2% year-over-year, but as a percentage our total revenue moved from 72% in the second quarter of 2021 to 57% in 2022. Okay. He left in early 2003 to manage money (long/short) and explore new Jobs Thanks, Dave. Freight demand followed normal seasonal trends, but was generally strong throughout the quarter. The $20 million to $25 million is the total for the back half of the year. Of course, they're biased! Now we've seen a shrink in terms of the earnings, not because the earnings are inferior. Our logistics business was in the low 80s and our Intermodal business achieved double digit margins. David Jackson; Topics Type All 0 Ideas 0 Questions 0 Bugs 0 Praises 0 Announcements 0. Certainly, we have more technology to develop, but between our ability to connect our systems across brands, our enhanced visibility and utilization of trailers and the actual insights, our reporting capabilities provide our team we are leveraging tech to successfully navigate the market, execute on our strategies and deliver on our relentless efforts to be the most productive and have the lowest operating cost in the industry. Our mission: Power to Investors. So historically, we've said that broader economic GDP demand moves in tens of basis points, but supply seems to swing in the hundreds of basis points. Capacity is clearly under pressure. Slide four illustrates the revenue and margin contributions for the second quarter and year to date periods for each of our segments. We are constantly evaluating market conditions to maximize our use of cash to create value for our shareholders. We have many fewer competitors in that space as well. Demand for our power-only service offering remained strong and provides a strategic advantage compared to traditional brokers. And we've been able to continue to have very, very strong volumes there. Third party carriers prefer power-only business because it saves them hours at each load and unload location, lowers their capital investment and risk, reduces their operating costs and gives them access to freight that historically wouldn't be able to participate in. And the [indiscernible] rate is $60 an hour. Our site is the only free, online source for over . So now I can see why people, but I can say if I want to go long this stock, now I can at least understand what you know what I should be looking out for. Im passionate about building a product that enriches our subscribers lives, and a platform that provides opportunities for our contributors. And so, I think that that has led usthat has led us to have some more consistency and then a little bit more durable through even the 2019 negative cycle. And for those that are in the queue that we haven't been able to get to your question, feel free to follow-up with us. This guy is bearish on Facebook, right? There's another type of founder of startups of people who build the product that they want themselves. To begin, we'll move you to Slide two, where I'll read the disclosure. Thanks for that question, Jack. I understand there's a lot of variability, but right now in the current guidance, it doesn't sound like you've got a big fourth quarter planned right now? The content is too spotty. Here it is. Good afternoon. Some tools you can start utilizing if you sign-up to Seeking Alpha, include: Custom virtual portfolio tracker Link and analyze your actual portfolio I joined Seeking Alpha in June 2021. Let's look at what you get for your money in our Seeking Alpha review. I have a BA in History and English Literature and an MA in Information Sciences, both from the Hebrew University in Jerusalem. David Jackson is the founder and CEO of Seeking Alpha. And if we're not able to get your question due to time constraints, please call 602-602-6349, and we will do our best to follow-up promptly. VP HR. And it sounds like maybe even an expectation that rates will be somewhat stable sequentially. I thrive on leading meaningful transactions that bring about transformation and growth. I will now hand it to Adam to finish up with our guidance. And you've seen us do that with a good return. Click HERE. In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. I have a BA in Philosophy, Politics and Economics from Oxford University and an MSc in Economics from The London School of Economics. So, let me, just for fun now, I'm gonna screenshare. Our LTL business showed great improvement and ran the 70s for the first time. And I think that's why we like this as a nice complement to our core business. As spot rates have declined, we have increased commitment levels with our customers and have reduced our exposure to the spot market. Each reportable segment grew revenue double digits and expanded margins, which ultimately led to a 49.1% increase in revenue and a 66.1% increase in adjusted operating income on a consolidated basis. You have a jury who listens to both sides of the case, always. And good afternoon, everyone and thank you for joining our second quarter 2022 earnings call. Select this result to view David L Jackson's phone number, address, and more. Your next question will be from Todd Fowler at KeyBanc Capital Markets. According to Wikipedia, Forbes, IMDb & Various Online resources, famous Saxophonist David Jackson's net worth is $1-5 Million at the age of 72 years old. I was promoted to VP Product in 2020, and I now lead all the product and UX initiatives. And so they can save themselves from a lot of maintenance costs by getting into another truck. I am a qualified attorney in Israel and New York. But even at $60 an hour after two hours. He started his career as a macro-economist at HM Treasury in London and The Bank of Israel, and later moved to Morgan Stanley in New York as a technology research analyst covering the communications equipment sector. He is from England. Founded in 2004, Seeking Alpha is an investment research platform and newsletter that relies on the combined knowledge of its community to find the best investing opportunities. My name is Sylvie, and I will be your conference operator today. And so, as a result of that, when you look at the progress made in LTL, for example, I mean, we're well ahead of schedule there. Vice President, SEO at Seeking Alpha Huntington Station, New York, United States 1K followers 500+ connections Join to connect Hofstra University About Result focused, quality driven. One thing we do know that has been consistent from one cycle to the next is, when credit dries up, that brings religion to small carriers in terms of what they do to grow or refresh. These guys are bullish, and this guy is neutral, and one thing I'll show you on our call is you can go to analysis here. We will answer as many questions as time allows. (3) We've raised retention for Seeking Alpha Premium by (i) identifying our most valuable product features, and (2) redesigning the product UX to increase the usage of those features. And so, within our truckload, we have taken a multitude of steps for that business to be de risked and to endure well the cycles on top of all the extemporaneous income streams. Yes, sure. 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