In an environment-friendly move, Knight-Swift Transportation Holdings Inc. KNX announced that it intends to reduce carbon emissions generated by its fleet by 50% over the next 15 years (2035).
Climate change has become a rising concern in recent years as we continue to pay the price for increase in carbon footprint that has led to adversities like heat waves, increasing sea levels, forest fires and accelerated natural resource depletion. Therefore, sustainable development is the need of the hour to conserve environmental resources for future use and limit the mentioned adversities.
Knight-Swift, North America’s largest truckload transportation company, expects to meet this goal by adopting certain initiatives that include implementation of next generation tractor and trailer aerodynamic solutions; deployment of advanced idle reduction technologies; utilizing next generation clean diesel engines; operating zero-emission vehicles, including battery electric and hydrogen fuel cell technology; execution of various other strategies as technology is developed and introduced to the market.
In order to commence this initiative, Knight-Swift recently partnered with Daimler Trucks North America to deploy the company’s first zero-emissions battery electric vehicle, consisting of a pre-production Freightliner eCascadia day cab tractor.
Zacks Rank & Other Stocks to Consider
Knight-Swift currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Zacks Transportation sector are Canadian Pacific Railway Limited CP, J.B. Hunt Transport Services, Inc. JBHT and Werner Enterprises WERN. All the stocks carry the same rank as Knight-Swift. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Canadian Pacific, J.B. Hunt and Werner is pegged at 8.5%, 15% and 8.5%, respectively.
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