NYSE$KNX
Knight-Swift Transportation Holdings Inc. · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Knight-Swift reported strong operating results across all segments despite a shifting freight environment. Revenue increased, but operating income and net income decreased compared to the same quarter last year.
Knight-Swift Transportation Holdings Inc. reported a decrease in net income attributable to Knight-Swift to $194.8 million and an adjusted EPS of $1.27 for Q3 2022. Consolidated total revenue grew by 15.5%, while consolidated operating income decreased by 1.7% to $265.4 million. The company is focused on synergy opportunities and system integrations, especially within the LTL segment.
- Consolidated total revenue increased by 15.5%, while operating income decreased by 1.7%.
- Truckload segment operated with an 81.8% Adjusted Operating Ratio.
- LTL segment improved Adjusted Operating Ratio by 300 basis points year-over-year to 84.5%.
- Logistics segment saw a 20.1% load count growth.
Headline financials
Revenue & EPS history
Knight-Swift · Revenue · Quarterly
$1.9B
Revenue by segment
Knight-Swift · $1.78B total across 4 segments · Q3 2022
- Truckload$1.16B+11.5%65.2%
- LTL$279M+45.2%15.6%
- Logistics$211M-6.9%11.8%
- Intermodal$131M+15.9%7.3%
Forward guidance
Knight-Swift expects Adjusted EPS for full-year 2022 to range from $5.17 to $5.22.
Tailwinds
- Year-over-year increase in LTL revenue and margin, but typical sequential declines
- Intermodal margins to remain in the high single digits with volumes improving year-over-year
- Continued growth in revenue and operating income in non-reportable
- Approximate tax rate of 25% for the full year 2022
- Net Cash Capex for the full year 2022 expected range of $525M – $575M
Headwinds
- Rates inflect negatively year-over-year as the moderating spot market yields less non-contract opportunities
- Stable truck count with typical sequential declines in miles per tractor
- Stable Logistics load volumes with reduced revenue per load and an operating ratio in the mid-to-high 80's
- Inflationary pressure in most cost areas including driver pay, maintenance, equipment, and non-driving labor
- Sequential increase in interest expense due to higher rates
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 Q3 2022
-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% | — | — |
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