Knight Navigates a Soft Truckload Market in its 1Q, but Raising FVE on Probable Tax Reform
In the first quarter, Knight’s revenue before fuel surcharges declined about 3.5% year over year, slightly below our expectations due to persistent core-rate pressure in the asset-based truckload division stemming from abundant industry capacity. The asset-light truck brokerage unit is also seeing rate (and gross margin) headwinds from overcapacity, but solid load-volume growth is providing a nice offset. Total profitability also came in shy of our expected run rate because of some lost leverage...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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