Knight-Swift warns trucking freight rates are falling

Oct 21, 2022 at 01:03 PM CST
Trucking firm Knight-Swift Transportation Holdings Inc. warned of a rapid slowdown in the freight market, an ominous sign for the economy as shippers grapple with a lackluster peak season ahead of the holidays. Businesses are slowing their orders on concern consumer demand won’t hold up, and that means less freight to carry, especially for smaller truckers, the company said late Wednesday as it reported quarterly earnings. That’s leading to a decline in the prices transportation companies can charge, and their operating costs are still soaring, Knight-Swift said.

Oct 21, 2022 at 01:03 PM CST

Trucking firm Knight-Swift Transportation Holdings Inc. warned of a rapid slowdown in the freight market, an ominous sign for the economy as shippers grapple with a lackluster peak season ahead of the holidays. Businesses are slowing their orders on concern consumer demand won’t hold up, and that means less freight to carry, especially for smaller truckers, the company said late Wednesday as it reported quarterly earnings. That’s leading to a decline in the prices transportation companies can charge, and their operating costs are still soaring, Knight-Swift said.