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Knight-Swift Transportation Holdings Inc. (KNX) Q2 2023 Earnings Call Transcript
Knight-Swift Transportation Holdings (KNX) came out with quarterly earnings of $0.49 per share, missing the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $1.41 per share a year ago.
Knight-Swift's (KNX) second-quarter 2023 results are expected to have been weighed down by weakness in freight demand and higher expenses.
Knight-Swift (KNX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Pro-investor steps and deal to acquire U.S. Xpress Enterprises boost Knight-Swift (KNX). However, low freight demand is a concern.
Knight-Swift Transportation warned Wednesday that second-quarter results are likely to disappoint in a news release also confirming it has closed on the previously announced acquisition of truckload carrier U.S. Xpress. The transportation and logistics provider said a weaker than expected operating environment in the truckload sector would likely result in consolidated operating margin deterioration of 1,100 to 1,200 basis points year over year (y/y) in the second quarter and that its full-year guidance would be updated when it reports results on July 20.
The Knight-Swift acquisition of truckload carrier U.S. Xpress has closed, with U.S. Xpress stock no longer trading and the company filing a delisting document with the Securities and Exchange Commission. Knight-Swift (NYSE: KNX) has made no comment or filing about the closing of the deal, but U.S. Xpress' notice Monday to the SEC delisting its stock from the New York Stock Exchange says the closing was effective July 1.
While the top- and bottom-line numbers for Knight-Swift (KNX) give a sense of how the business performed in the quarter ended March 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Knight-Swift's (KNX) first-quarter 2023 earnings and revenues fall year over year.
Knight-Swift Transportation Holdings Inc. (KNX) Q1 2023 Earnings Call Transcript.