NYSE$KNX
Knight-Swift Transportation Holdings Inc. · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Knight-Swift Transportation Holdings Inc. reported a decrease in revenue and earnings due to soft demand and competitive bidding season.
Knight-Swift Transportation Holdings Inc. reported a decrease in net income attributable to Knight-Swift to $104.3 million, with GAAP earnings per diluted share at $0.64. Consolidated total revenue decreased by 10.4% to $1.6 billion, and consolidated operating income decreased by 51.4% to $144.8 million.
- Consolidated total revenue was $1.6 billion, a 10.4% decrease from Q1 2022.
- GAAP earnings per diluted share were $0.64, compared to $1.25 in Q1 2022.
- Adjusted EPS was $0.73, compared to $1.35 in Q1 2022.
- Free cash flow was $144.2 million.
Headline financials
Revenue & EPS history
Knight-Swift · Revenue · Quarterly
$1.64B
Revenue by segment
Knight-Swift · $1.52B total across 4 segments · Q1 2023
- Truckload$1.01B-6.3%66.8%
- LTL$255M+0.1%16.8%
- Logistics$138M-51.0%9.1%
- Intermodal$111M+1.2%7.3%
Forward guidance
Knight-Swift now expects that Adjusted EPS for full-year 2023 will range from $3.35 to $3.55, which does not reflect the inclusion of U.S. Xpress pending the close of the acquisition and is an update from our previously-disclosed range of $4.05 to $4.25.
Tailwinds
- Truckload tractor count stable with miles per tractor improving on a year-over-year basis in the second half of the year
- LTL revenue, excluding fuel surcharge increases modestly year-over-year with relatively stable margin profile and typical seasonality
- Logistics volume and revenue per load remains under pressure into the second quarter before improving in the back half of the year, with an operating ratio of approximately 90 for the year
- Intermodal Operating Ratio in the mid 90's for the full year with volumes up year over year
- Non-reportable to have modest revenue growth for the year and quarterly operating income run rate in the low to mid teens for the balance of year
Headwinds
- Truckload rates continue to be pressured, with a year-over-year decrease in overall revenue per mile of high single digits for the year
- Logistics volume and revenue per load remains under pressure into the second quarter before improving in the back half of the year
- Reflecting reduced exposure to third party insurance risk
- Easing trailer lease demand from lower inventory overhang and muted freight conditions
- Equipment gains to be in the range of $15 million to $20 million quarterly
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.4%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+1.8%
Avg return
30 days after
45%
30 / 66 earnings
Positive
+11.8%
Q3 2021
Best reaction
-9.4%
Q4 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.8% | -0.5% | +7.3% | |
| Q4 2025 | +2.7% | -5.2% | +6.5% | |
| Q3 2025 | -7.2% | -7.7% | -6.8% | |
| Q2 2025 | -1.3% | -2.3% | -3.2% | |
| Q1 2025 | +1.9% | -1.0% | +8.2% | |
| Q4 2024 | +4.7% | +6.4% | -5.2% | |
| Q3 2024 | -1.6% | +1.9% | +9.1% | |
| Q2 2024 | +5.3% | +5.7% | +9.6% | |
| Q1 2024 | -4.2% | -4.8% | -3.1% | |
| Q4 2023 | +1.5% | +1.1% | +2.1% | |
| Q3 2023 | +8.3% | +6.2% | +8.8% | |
| Q2 2023 | -0.1% | +2.5% | +0.0% | |
| Q1 2023 | -0.5% | -3.2% | -3.9% | |
| Q4 2022 | +3.0% | +3.0% | +0.3% | |
| Q3 2022 | -6.9% | -3.0% | +9.6% | |
| Q2 2022 | +3.0% | +0.6% | +9.7% | |
| Q1 2022 | +3.6% | +5.2% | -2.1% | |
| Q4 2021 | -1.5% | +2.2% | -1.9% | |
| Q3 2021 | +11.8% | +9.3% | +12.3% | |
| Q2 2021 | +0.2% | +1.5% | +3.8% | |
| Q1 2021 | -5.0% | -6.2% | -1.9% | |
| Q4 2020 | -8.2% | -10.1% | -2.9% | |
| Q3 2020 | +0.6% | -0.5% | +6.2% | |
| Q2 2020 | +1.0% | -1.4% | +3.7% | |
| Q1 2020 | +0.4% | +6.2% | +13.4% | |
| Q4 2019 | +5.2% | +3.2% | -11.7% | |
| Q3 2019 | +0.1% | +0.6% | -2.8% | |
| Q2 2019 | -3.2% | -1.9% | -14.8% | |
| Q1 2019 | -0.8% | -2.5% | -14.3% | |
| Q4 2018 | +10.9% | +6.2% | +14.9% | |
| Q3 2018 | +10.6% | +3.9% | +8.1% | |
| Q2 2018 | -7.4% | -7.5% | -5.8% | |
| Q1 2018 | -6.4% | -7.1% | -3.7% | |
| Q4 2017 | +6.6% | +3.0% | +4.0% | |
| Q3 2017 | -6.4% | -6.9% | +3.5% | |
| Q2 2017 | -4.9% | -3.8% | +1.3% | |
| Q1 2017 | +0.1% | -1.7% | -4.6% | |
| Q4 2016 | -1.5% | +0.6% | -3.9% | |
| Q3 2016 | +3.3% | +4.3% | +25.4% | |
| Q2 2016 | +2.8% | +1.2% | -2.5% | |
| Q1 2016 | +0.1% | — | — | |
| Q4 2015 | -5.9% | — | — | |
| Q3 2015 | -6.4% | — | — | |
| Q2 2015 | -7.2% | — | — | |
| Q1 2015 | -2.9% | — | — | |
| Q4 2014 | -9.4% | — | — | |
| Q3 2014 | -2.0% | — | — | |
| Q2 2014 | +1.6% | — | — | |
| Q1 2014 | -2.0% | — | — | |
| Q4 2013 | +3.2% | — | — | |
| Q3 2013 | +1.1% | — | — | |
| Q2 2013 | +1.1% | — | — | |
| Q1 2013 | +1.8% | — | — | |
| Q4 2012 | -2.6% | — | — | |
| Q3 2012 | -0.7% | — | — | |
| Q2 2012 | -1.7% | — | — | |
| Q1 2011 | -2.2% | — | — | |
| Q1 2012 | -0.6% | — | — | |
| Q4 2011 | -1.4% | — | — | |
| Q4 2009 | -1.4% | — | — | |
| Q2 2011 | -1.4% | — | — | |
| Q3 2011 | -4.5% | — | — | |
| Q3 2010 | -4.5% | — | — | |
| Q2 2010 | -0.5% | — | — | |
| Q4 2010 | -0.5% | — | — | |
| Q1 2010 | +1.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro