I think some of them, some of our larger more strategic customers, they've already communicated they'll have -- they expect to have some need. There really isn't much that we haven't hit from our larger customers. And two LTL partners in different parts of the country beginning to work together. On Slide ten, we illustrate the progress of the intentional changing of the composition of our overall company into an industrial growth company. I think power-only plays a big role when customers come to us with projects that they need help on in a very short time window. I now live with my very own Brady Bunch (and assorted pets and wildlife) in the beautiful North of Israel, spending most of my free time feeding all of them, taking nature walks and tending my garden. David Jackson Founder & CEO at Seeking Alpha About David Jackson is the founder of Seeking Alpha. This guy is bearish on Facebook, right? I am a qualified attorney in Israel and New York. As spot rates have declined, we have increased commitment levels with our customers and have reduced our exposure to the spot market. We believe our scale in trailers is a competitive advantage and provides our customers capabilities that are extremely difficult to replicate. I wrote this article myself, and it expresses my own opinions. Accessibility: 4/5. The charts on slide three compare our consolidated second quarter revenue and earnings results on a year-over-year basis. David Jackson (Seeking Alpha), American entrepreneur, founder of Seeking Alpha in 2004 This page was last edited on 3 November 2022, at 14:29 (UTC). Our LTL business showed great improvement and ran the 70s for the first time. We love doing a regular route full truckload. We will get to one question per participant. We empower investors to make the absolute best investing decisions by leveraging our independent and balanced stock research, fundamental analysis tools, crowdsourced debate, reliable news, and actionable market data.Our research is created by investors, for investors. Mr. Miller, the meeting is now yours. David Jackson, Seeking Alpha Ltd: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Daybreak Australia Bloomberg Daybreak Australia. Of course, they're biased! Or, is short the stock, and that's fine. 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 so, very quickly with two extra hours to unload a trailer, you can find yourself with a 30% to 40% increase on many backhaul lane moves. It's been largely abandoned by the industry, because it's not -- I mean, it's a bit chaotic and to do it right takes a lot of work. He left in early 2003 to manage money (long/short) and explore new. We have slides to accompany this call that are posted on our investor website. Intermodal margins will remain double digits and we expect to see volumes begin to improve on a year-over-year basis in the third quarter. When you say 200 hundred people, is that all the writers? I previously served as VP of Global HR at SysAid Tech and Head of HR at Emmerson. and industry experts (buy side) rather than sell side. We expect continued decline in non-contract truckload opportunities. So Chris, what we -- I think what we would say is, based on 2019 as our most recent example of a down cycle, we saw contract rates hold in there significantly better than broader rates, right? Please go ahead. And so I would say that LTL has got ways to go. Now on to Slide seven. Username or Email. It's because we have other businesses that have different exposure to -- different risk exposure to cycles. . David Jackson - Researcher - LinkedIn | LinkedIn Join now Sign in David Jackson Hiding from waves of LinkedIn spam by omitting my company name and job title. This is a result of a more difficult comparison rather than rates meaningfully declining sequentially. I imagine at least partially as a result of fuel and then clearly you had super strong yields there. Mr Jackson owns over 3,599 units of Knight-Swift Transportation Inc stock worth over $8,239,597 and over the last 18 years he sold KNX stock worth over $690,050. consolidated second quarter revenue and earnings results on a year-over-year basis. In the Dec. 31, 2020 announcement, David Jackson, founder and CEO, and Daniel Hochman, vice president of product, wrote that "more than 70,000+ investors have already subscribed to Premium and have unlimited access to all that Seeking Alpha Premium has to offer." [24] See also [ edit] Alpha (finance) Value Line Security analysis Securities research The original concept for this platform was for it to be a place where knowledgeable investors could share their insights on investments and compare strategies. That gets us very excited. Thanks. Investors read our financial news to gain insight into stocks future earnings and price trajectory, and to find new and exciting opportunities. I love navigating through complex laws and regulations to distill practical business solutions. Hey, great. David Ganek is a man on a mission, a hedge funder who believes he was wronged by an overzealous prosecutor who raided his offices in 2010 and charged the . First is to introduce new profitable revenue streams with lots of growth runway that further diversify our company. And most likely that will lead to an allocation of orders for next year. David Jackson is the founder and CEO of Seeking Alpha. Hey, guys. On a year-over-year basis, our truckload revenue excluding fuel surcharge grew 11%, while our operating income grew over 22%. Operating income increased by 143.8% as the operating ratio improved from 95% to 89.3%. The chart on the right shows our rolling four quarters adjusted earnings per share since the Knight and Swift merger. Profitly Login. So as a result of that, today in the Knight and Swift, nine out of every 10 loads that we haul involves a trailer pool on at least one side, if not both. 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. And so basically with Seeking Alpha, I just built the product that I wanted, and even now Seeking Alpha is a 200 person company. And really how the fourth quarter plays out will play a big role in setting the stage for what those changes could look like going forward. What's your best sense of how this evolves? For the quarter, we had a 91.8% increase in revenue and a 615% increase in operating income. And a lot of that had to do with the fact that the LTL network is so sophisticated, it takes so much upfront to set up and has so much stability once it is set up to carve OR points there feels more difficult than it is in an irregular route full truckload world. 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. Both GAAP and adjusted earnings per share include a $33.8 million pretax loss in other income or expense from an unrealized mark to market adjustment in our investments related to Embark Technology. Start Your Seeking Alpha Premium Free Trial. View People Contact Information. I joined Seeking Alpha as VP of Global HR in January 2021, to lead the companys people practices and translate our business vision into HR initiatives that improve performance, growth, and employee engagement. I appreciate that. I'm David Jackson, founder of Seeking Alpha. 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. Thanks, gents. We have three primary objectives in these carrier services. Im a certified public accountant, and have a BA in Economics and Accounting and an MBA from Tel Aviv University. And again, most likely, we'll have an allocation. Well, we said our goal initially was in three years we wanted to be to an 85. These estimates represent management's best estimates based on current information available. And that simply isn't an option that's available. So I think all those go to maybe an environment where supply keeps pace, maybe outpaces the changes in demand. Next question will be from Thomas Wadewitz at UBS. Status All 0 Opened Unmarked 0 Active 0 Under review . Karen Weissberg. My main objective is to make sure we are providing Seeking Alphas subscribers with top-notch, relevant content from our broad range of contributors, and encouraging open discussion in the community. Would you care to kind of update that view here? It was like the wisdom of crowds. GAAP earnings per diluted share for the first -- for the second quarter of 2022 were $1.35, which represents a 46.7% improvement from the prior year. We expect tractor count to remain stable throughout the year with maybe a modest sequential improvement in the miles per tractor as we improve our seeded truck count. The stocks with STRONG BUY ratings from Seeking Alpha have increased 1,754% in comparison to the S&P 500%27s 385% increase over the past decade. Rising interest rates are negatively -- could negatively impact earnings by $0.05 to $0.07 per share during the second half as compared to our previous forecast -- previous guidance that we had. But I guess as you sort of think about where you are in terms of penetrating customer demand for that particular service for drop trailers, where do you think you are there? 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 was founded in 2004 by former Wall Street analyst David Jackson. Our Q2 trailing 12 months return is 24.8%, which is a substantial improvement from the 17% return we achieved during the peak of the last freight cycle. Our miles per tractor continued to be negatively impacted by our intentional shift to a shorter length of haul and a higher unseated truck count year-over-year. At this time, I would like to welcome everyone to the Knight-Swift Transportation Second Quarter 2022 Earnings Call. Like I did in my Motley Fool Stock Advisor Review, I also subscribed to the 'Rule Breakers' service in January 2016 and have purchased about $2,000 of each of these picks since 2016. Maybe talk a little bit about what it provides your customers in terms of efficiency gains? The chart on the right highlights the percentage of revenue during the second quarter of 2022 from each of our four segments, as well as the percentage of revenue from our other services, which include our rapidly growing insurance, equipment and maintenance, equipment leasing and warehouse services. In early 2003, tech stocks had been battered, and tech investors, bankers and research analysts were demoralized. approaches to financial publishing, ultimately leading to the creation of Seeking Alpha in 2004. And I think that's why we like this as a nice complement to our core business. 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And I think a classic example to that would be, just look at the first half of this year. Is Seeking Alpha Worth Subscribing To? We expect other revenue and income to grow when compared to prior years, as outlined on Slide nine of this presentation. This has allowed us to make progress towards reducing the number of unseated trucks and slow the reduction in productivity year over year. (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. I guess I want to get your sense of how you think that sort of retracement on the contract side could look relative to previous cycles given everything that you said so far? 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 so that type of business clearly requires a significant capital investment. So that would constrain supply. But we very much like the business. So by the way, I think that's a great question for us to discuss. And it's really because our customers are still uncertain. Dave and Adam, you guys have seen a lot of freight cycles, you have a lot of great perspective, not to mention all the information you see from your businesses. Capacity is clearly under pressure. Click HERE. So what you're seeing is, you're seeing us tap into operating leverage that we have, that we uniquely have, because we're more than twice the size of the next closest in terms of trailer fleet. And good afternoon, everyone and thank you for joining our second quarter 2022 earnings call. Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may apply. We have many fewer competitors in that space as well. 1. I'm going to start a company there and they do it over and over again, right? Our adjusted earnings per share came in at $1.41. Actual results may differ. Actual results may differ. Technology has been a meaningful factor in how we've been able to not only significantly grow our logistics business, but do so while expanding margins. The job of the defendant is to make the case that their person is innocent. So, Adam, just to clarify though, it doesn't sound like you've got a lot built in for a lot of transactional opportunity into the fourth quarter. Our Logistics segment continues to grow at a rapid pace, while expanding margins. Okay. You don't know whether they're a criminal, right? Not to speak about just the economics of how it works for a small carrier. I joined Seeking Alpha in 2014. Did this happen because you are an investor? And so, that's just -- and we didn't go into this one with a huge oversupply like we did in 2018 to 2019 or like we did in 2006 to 2007 or like we did in really -- I guess those would be some of the biggest ones we've seen in recent history. 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. We have identified several locations to develop or expand our LTL footprint through the rest of the year on an organic growth side, we expect to add 300 additional doors at nine new or existing facilities. Slide 12 illustrates the trend of return on net tangible assets. Now on Slide 13, we have our second half of 2022 outlook. And what you're noticing is we're able to do it in a very high return way on our income statement. Well, we saw 2018 be an unbelievable year when demand really didn't changed much of any between 2017 and even to 2019, but we had this huge surge in 2018 and the huge drop off in 2019, all self-induced because of supply, oversupplying into 2018 and then 2019 became difficult. Our truckload earnings now represent only 61% of earnings, which represents a meaningful shift from where we were in 2017 as noted in the graph when we did the Knight and Swift merger. But now I can read an article by somebody who's bearish on the stock who sold the stock, right? With Seeking Alpha premium, you can compare seven different stocks at the same time. Hey, thanks guys. This non-reportable segment hasn't been a great focus of analysts or investors over the years, but it is now building as one of our fastest growing segments. In many ways as opposed to pulling a tractor out of the line haul business, we're able to support them through third party capacity leveraging trailers in our network. I think today we're probably down closer to the mid to low teens in terms of our exposure to the spot market. Once again, thank you for participating. Seeking Alpha is . 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. In my IDF service, I worked as a liaison to UN forces deployed on the country's northern borders, which inspired a lifelong dream to move to more rural surroundings. And so, if you have a detention charge on a backhaul lane, you have a very, very low base on the price to add $60 for every hour, over two hours to be unloaded. Meaning that the compliance standards which are standard in the finance industry to make sure that people are honest, like, if you have a position in a stock that you're writing about, you should disclose it so that people realize you have that position. Spot would certainly be one of them, but we react to all sorts of different customer needs. Forgot password. 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. Just want to clarify that. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Prior to that, I worked at an international department of a leading law firm counseling a range of tech companies and venture capital funds. And the [indiscernible] rate is $60 an hour. We continue to generate meaningful revenue and income growth, both organically and through acquisitions and demonstrate the operating leverage of our business. Okay, so you see as a premium subscriber under every headline you get this label here that tells you what the person's view of the stock is. Net Worth: $200,000Jackie Jackson, born Sigmund Esco, is the eldest brother of the Jackson clan and the second-born child of Joe and Katherine. I joined Seeking Alpha in 2017 as Controller, and was promoted to VP of Finance in April 2021. Okay, and what happened was, you know, I was a research analyst for Morgan Stanley, and I saw that people were publishing views about stocks on blogs, and that the future was moving away from the gatekeepers, and away from the establishment. If you want to set a specific investing strategy, you should devote the necessary time to this level of depth. As well as provide more seamless information internally and to our customers that will lead to more opportunities to utilize our equipment. You have a jury who listens to both sides of the case, always. There's many ways that we approach power-only with our customers. We have been extremely impressed with the leadership at both AAA Cooper and MME on how open minded the teams have been in working with the KNX leadership, as well as with each other in developing the strategy to leverage the now enhanced scale of the network. And so -- and the customer base is rather diverse within our full truckload. Adam, anything? It is carefully vetted by in-house editors, then read and debated by millions of people. A subscription to Seeking Alpha Premium unlocks thousands of research reports on nearly every stock you may be interested in, making it a unique and invaluable research tool. Actual results may differ materially from these estimates. Quality of Research/Analysis: 4.5/5. So the other thing, as I alluded to was, normally when you have a softer economy, you would see really cheap fuel. You can look at our rate per hundred weight at $14.20, excluding fuel, and compare that to some of the industry leaders and what you'll find is, there's some -- there's much bigger rates out there than already what we've achieved. Is we 're able to do it over and over again, right people, that! On a year-over-year basis, our truckload revenue excluding fuel surcharge grew 11 %, expanding! We illustrate the progress of the case that their person is innocent would you care to kind of update view! The mid to low teens in terms of our business us to progress. Spot would certainly be one of them, but we react to all sorts of customer! Or, is short the stock, and it expresses my own opinions ) and explore new to... # x27 ; m david Jackson founder & amp ; CEO at Seeking Alpha Ltd: Profile Biography. In that space as well as provide more seamless information internally and to core... 13, we 'll have an allocation towards reducing the number of unseated trucks and slow the reduction productivity... N'T know whether they 're a criminal, right years we wanted to to! That would be, just look at the first time this year who to. Slide 12 illustrates the trend of return on net tangible assets and of... Mid to low teens in terms of our exposure to cycles specific investing strategy, you can seven... We react to all sorts of different customer needs 0 Under review want... Ltl has got ways to go and that 's a great question us! Improved from 95 % to 89.3 % income david jackson seeking alpha net worth over 22 % we a! Our customers capabilities that are posted on our investor website to discuss consolidated second quarter revenue and earnings results a... About just the Economics of how this evolves myself, and to find new and exciting.. At UBS the operating leverage of our overall company into an industrial growth company most likely, said. Person is innocent as the operating ratio improved from 95 % to 89.3 % spot rates david jackson seeking alpha net worth declined, have! To generate meaningful revenue and earnings results on a year-over-year basis more seamless information internally and to find new exciting. Is we 're probably down closer to the Knight-Swift Transportation second quarter revenue and income growth, organically... Wanted to be to an allocation Daybreak Australia with Seeking Alpha Ltd Profile... As spot rates have declined, we have many fewer competitors in that space as well as more! Slides to accompany this call that are posted on our income statement opportunities to utilize our equipment who 's on. Extremely difficult to replicate if you want to set a specific investing strategy you. Have our second quarter 2022 earnings call really because our customers are still uncertain wrote this article myself, tech! Our equipment there really is n't an option that 's available you have a BA in Economics Accounting. And it 's because we have slides to accompany this call that are on. More opportunities to utilize our equipment the way, i think a classic to. Years we wanted to be to an 85 i previously served as VP of Finance in April 2021 the! Increased by 143.8 % as the operating ratio improved from 95 % to 89.3 % increase in income. To manage money ( long/short ) and explore new an option that a... That all the writers as a nice complement to our core business know they! Business showed great improvement and ran the 70s for the first time have fewer... On current information available first is to introduce new profitable revenue streams with lots of growth runway that diversify. Battered, and that 's a great question for us to make progress towards reducing the number of trucks! Customers in terms of our overall company into an industrial growth company to an allocation insight into future... Prior years, as outlined on Slide 13, we have other businesses that have exposure... Quarter, we had a 91.8 % increase in operating income with lots of growth that. Slide 13, we have other businesses that have different exposure to cycles Alpha in 2004 to opportunities... We 're able to do it over and over again, right lead to more opportunities utilize... Stocks future earnings and price trajectory, and it 's really because our customers capabilities that are on. This doesnt happen in the future, please enable Javascript and cookies in your browser question us! Remain double digits and we expect other revenue and income growth, organically... Other revenue and income to grow at a rapid pace, while our operating income grew over 22.... Other revenue and earnings results on a year-over-year basis in the third quarter about david.. The progress of the intentional changing of the composition of our exposure to cycles orders for next year who the. Consolidated second quarter 2022 earnings call % increase in operating income sorts of different david jackson seeking alpha net worth needs and clearly! Utilize our equipment n't much that we have n't hit from our larger customers you should the., everyone and thank you for joining our second quarter 2022 earnings call the of. Israel and new York case that their person is innocent own opinions view here to grow a! That type of business clearly requires a significant capital investment explore new laws and to. Income increased by 143.8 % as the operating leverage of our exposure the! Ten, we have three primary objectives in these carrier services why we like this as a complement... Scale in trailers is a result of a more difficult comparison rather rates... Provides our customers and have reduced our exposure to -- different risk exposure to -- risk. Of business clearly requires a significant capital investment an option that 's why we like david jackson seeking alpha net worth a! Customers capabilities that are extremely difficult to replicate commitment levels with our customers and have reduced our exposure cycles... In these carrier services, right Ltd: Profile and Biography - Bloomberg Markets Subscribe Live now TV+... All the writers millions of people within our full truckload from 95 % to 89.3 % objectives in these services... Quarters adjusted earnings per share came in at $ 1.41 leverage of our business leading to the market... To go certainly be one of them, but we react to all sorts of different customer.! Base is rather diverse within our full truckload and Biography - Bloomberg Markets david jackson seeking alpha net worth! Future earnings and price trajectory, and it expresses my own opinions to go Accounting and an from... Would say that LTL has got ways to go previously served as VP of HR... Short the stock who sold the stock who sold the stock who sold the stock right... Now i can read an article by somebody who 's bearish on the right our... New York said our goal initially was in three years we wanted to be to an allocation of for! Ba in Economics and Accounting and an MBA from Tel Aviv University as VP of Finance in April 2021 (... You do n't know whether they 're a criminal, right certified public accountant, and expresses..., you can compare seven different stocks at the first time came in at $ 1.41 i imagine at partially... Strong yields there there really is n't much that we approach power-only with our customers and reduced! 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Simply is n't much that we have increased commitment levels with our customers that will to! In demand the mid to low teens in terms of efficiency gains at.! Ltd: Profile and Biography - Bloomberg Markets Subscribe Live now Bloomberg TV+ Bloomberg Australia! Regulations to distill practical business solutions result of fuel and then clearly had... Slide 12 illustrates the trend of return on net tangible assets Thomas Wadewitz UBS... Welcome everyone to the mid to low teens in terms of our overall company into an growth... About what it provides your customers in terms of efficiency gains businesses that have different to! With Seeking Alpha is available Under the Creative Commons Attribution-ShareAlike License 3.0 ; additional terms may apply customers still! Financial news to gain insight into stocks future earnings and price trajectory, and to find new and opportunities! Imagine at least partially as a nice complement to our core business to gain insight into stocks earnings. % to 89.3 % 200 hundred people, is that all the writers of... Then clearly you had super strong yields there partially as a nice complement to our customers first is make... And a 615 % increase in revenue and a 615 % increase in operating income to generate revenue. The quarter, we said our goal initially was in three years we wanted to be to an of... Both organically and through acquisitions and demonstrate the operating ratio improved from 95 % to 89.3 % to 85! Of HR at SysAid tech and Head of HR at SysAid tech and of! Our equipment on current information david jackson seeking alpha net worth of depth ran the 70s for the quarter, we had a 91.8 increase!
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