Knight-Swift closes U.S. Xpress acquisition; warns Q2 margins down 1,100-1,200 bps YoY

Knight-Swift Transportation Holdings Inc.

Acquisition of U.S. Xpress closed effective July 1, 2023, following shareholder approval on June 29, 2023.
CEO cites integration synergy teams underway; reiterates profitability targets for U.S. Xpress.
Q2 2023 consolidated operating margins expected to degrade 1,100-1,200 bps YoY due to persistently soft truckload demand.
Company to update full-year earnings guidance on July 20, 2023, incorporating U.S. Xpress for H2.

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