Knight-Swift CEO sees contract rates up mid-teens in 2027

PONTE VEDRA, Fla. — Contract truckload freight rates are set to see a percentage increase of no less than the mid-teens in 2027 on top of 2026’s escalation, according to the top executive at the largest carrier in the segment. “When you look at the margin profile of the big truckers, it’s still not exceeding your weighted average cost of capital. There’s still not reasonable margins. And so we’re going to have to push that further,” Knight-Swift Transportation CEO Adam Miller said Oct. 27. Knight-Swift ranks No. 8 on the Transport Topics Top 100 list of the largest for-hire carriers in North America and No. 1 in the truckload/dedicated carrier rankings. In addition to rising at a steeper rate than in a number of years, contract rates are set to change more often than shippers are used to, Miller told the 2026 WEX OTR Summit. As a result of rates rising, though, shippers are going to walk away from carriers’ proposals, but fleets will also step back and insist the deal does not make sense at a lower rate. Consequently, according to Miller, what will happen is “two weeks later, you get a mini-bid with that same lane and you’re able to bid it again. And they make decisions really quick on the mini-bids.” Image Knight-Swift’s truckload division saw its third-quarter 2026 revenue increase 14% year over year to $1.41 billion from $1.24 billion a year earlier as rates climbed. (Knight-Swift Transportation Holdings) “If you really track that, it tells you what is happening in the market. It’s kind of…

This story was originally published by Transport Topics. Read the full story at Transport Topics →