NYSE$KNX
Knight-Swift Transportation Holdings Inc. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Knight-Swift reported a net loss attributable to Knight-Swift of $10.7 million and Adjusted Net Income Attributable to Knight-Swift of $14.5 million for Q4 2023. The results included a $71.7 million operating loss in the third-party insurance business, which was initiated for exit during the quarter. U.S. Xpress achieved positive Adjusted Operating Income for the quarter.
Knight-Swift Transportation Holdings Inc. reported fourth quarter 2023 results, which included a net loss of $10.7 million and adjusted net income of $14.5 million. Consolidated total revenue was $1.9 billion, a 10.8% increase from the fourth quarter of 2022. The results were impacted by a $71.7 million operating loss in the third-party insurance business, which the company decided to exit. U.S. Xpress achieved positive Adjusted Operating Income for the quarter.
- Consolidated total revenue increased by 10.8% year-over-year to $1.9 billion.
- Net loss attributable to Knight-Swift was $10.7 million, with an Adjusted Net Income of $14.5 million.
- The company experienced a $71.7 million operating loss in its third-party insurance business and decided to exit this market.
- U.S. Xpress achieved positive Adjusted Operating Income for the quarter, though its inclusion negatively impacted the Truckload segment's Adjusted Operating Ratio by 250 basis points.
Headline financials
Revenue & EPS history
Knight-Swift · Revenue · Quarterly
$1.93B
Revenue by segment
Knight-Swift · $1.68B total across 4 segments · Q3 2023
- Truckload$1.18B+1.7%70.2%
- LTL$240M-13.9%14.3%
- Logistics$159M-24.7%9.4%
- Intermodal$101M-22.6%6.0%
Forward guidance
Knight-Swift expects Adjusted EPS to range from $0.37 to $0.41 for the first quarter of 2024 and from $0.53 to $0.57 for the second quarter of 2024.
Tailwinds
- Truckload margin down slightly sequentially and improves in the second quarter.
- Truckload miles per tractor increase mid-single digit percent year-over-year in the first half.
- LTL shipment count improves mid-to-high single digit percent year-over-year and revenue per hundredweight, excluding fuel surcharge, improves mid-to-high single digit percent year-over-year.
- Intermodal volumes flat year-over-year in the first quarter before building high-single digit percent in the second quarter.
- Net interest expense stable sequentially with fourth quarter levels through the first half.
Headwinds
- Given the unusual degree of uncertainty as to the direction and magnitude of outcomes from bid season.
- The timing and degree of an inflection in market conditions.
- The difficulty assessing prevailing levels of demand as a result of weather disruptions in January.
- Logistics volume declines high-single digit percent sequentially in the first quarter before partially recovering in the second quarter.
- Truckload tractor count down modestly sequentially through the first half.
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 Q4 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% | — | — |
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