Knight-Swift Q2 EPS $0.39, down 71% YoY; FY23 guidance cut to $2.10-$2.30

Knight-Swift Transportation Holdings Inc.

2023-Q2 EPS reported $1.04 revenue$3,189,911,000

Q2 revenue $1.55B, down 20.8% YoY; operating income $94M, down 71.1% YoY.
Truckload adjusted OR 91.8% (vs 78.9%); LTL adjusted OR 85.1% (vs 78.7%).
U.S. Xpress acquisition closed July 1, 2023; expected $0.25-$0.30 EPS loss in FY23.
FY23 adjusted EPS guidance cut to $2.10-$2.30 from $3.35-$3.55; capex raised to $700-$750M.
Logistics revenue down 52.4%; Intermodal operating ratio 106.4%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Knight-Swift Transportation Holdings Inc. reported second quarter 2023 results: revenue $1.6 billion, net income $63.3 million.

Period: second quarter 2023
Revenue: $1.6 billion
Net income: $63.3 million
Result: reported results

Exact text from the filing

today reported second quarter 2023 net income attributable to Knight-Swift of $63.3 million and Adjusted Net Income Attributable to Knight-Swift 1 of $78.6 million. GAAP earnings per diluted share for the second quarter of 2023 were $0.39, compared to $1.35 for the second quarter of 2022. The Adjusted EPS was $0.49 for the second quarter of 2023, compared to $1.41 for the second quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Knight-Swift Transportation Holdings Inc. reported second quarter 2023 results: revenue $1.6 billion, net income $63.3 million.

Period: second quarter 2023
Revenue: $1.6 billion
Net income: $63.3 million
Result: reported results

Exact text from the filing

Key Financial Highlights During the second quarter of 2023, consolidated total revenue was $1.6 billion, which is a 20.8% decrease from the second quarter of 2022. Consolidated operating income was $94.0 million, reflecting a decrease of 71.1%, as compared to the same quarter last year. Consolidated Net Income Attributable to Knight-Swift decreased by 71.1% to $63.3 million.

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Source: SEC EDGAR

accession 0001492691-23-000066

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