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Scott H. Group

Managing Director and Senior Analyst at Wolfe Research

Scott H. Group is a Managing Director and Senior Analyst at Wolfe Research, specializing in freight transportation, airfreight, surface transportation, airline, and truck machinery sectors. He covers more than 40 companies, including FedEx, Canadian National Railway, HF Sinclair Corporation, WABCO Holdings, and Genesee & Wyoming, and has achieved notable performance metrics such as a 59% success rate on TipRanks with an average return of 8.4%, including individual ratings that have generated returns up to 186%. Scott began his career as a fixed-income research analyst at Merrill Lynch, then spent over three years as Vice President at Bear Stearns before co-founding Wolfe Research in 2008, where he now serves on the Executive Committee. He holds a B.S. in Economics from the Wharton School at the University of Pennsylvania and is FINRA registered, reflecting his professional credentials in the securities industry.

Scott H. Group's questions to Knight-Swift Transportation Holdings (KNX) leadership

Question · Q3 2025

Scott H. Group (Wolfe Research) inquired about the significant sequential drop in the 'all other' segment's Q4 guidance, the expected impact and timeline of new regulatory enforcement on trucking capacity, and the factors indicating a reversal in private fleet growth.

Answer

CEO Adam Miller confirmed the Q4 'all other' segment guidance reflects normal seasonal patterns, particularly in warehousing. He detailed the potential impact of regulatory enforcement on non-domiciled CDLs and English language proficiency, noting early signs of tightness in certain markets and a potential meaningful shift in supply-demand dynamics by 2026. Miller also explained that anecdotal customer dialogue suggests private fleets are shrinking due to optimization challenges and higher replacement costs, a point CFO Andrew Hess reinforced by highlighting the changing economics of private versus for-hire fleets.

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