Knight-Swift Q4 net loss of $10.7M; insurance exit; truckload OR 93.9%

Knight-Swift Transportation Holdings Inc.

2023-FY EPS reported $1.34 revenue$7,141,766,000

GAAP diluted EPS ($0.07) vs $0.92 YoY; adjusted EPS $0.09 vs $1.00, including $0.30 negative from insurance loss.
Third-party insurance incurred $71.7M operating loss; company decided to exit by end of Q1 2024.
Truckload adjusted OR worsened to 93.9% from 82.7%; U.S. Xpress achieved positive adjusted operating income.
LTL adjusted OR held at 85.5% with 13.8% revenue growth ex-fuel; 15 terminals to be added.
Q1 2024 adjusted EPS guided $0.37-$0.41; Q2 2024 guided $0.53-$0.57; FY 2024 capex $625-$675M.

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 0.95

Knight-Swift Transportation Holdings Inc. reported the quarter ended December 31, 2023 results: revenue $1,931,919, net income $(10,655), EPS $(0.07).

Period: the quarter ended December 31, 2023
Revenue: $1,931,919
Net income: $(10,655)
EPS: $(0.07)
Result: reported results

Exact text from the filing

using a normalized 24.3% effective tax rate for the quarter. Quarter Ended December 31, 1 2023 2022 Change (Dollars in thousands, except per share data) Total revenue $ 1,931,919 $ 1,743,623 10.8 % Revenue, excluding truckload and LTL fuel surcharge $ 1,692,179 $ 1,515,774 11.6 % Operating income $ 18,280 $ 202,523 (91.0) % Adjusted Operating Income 2 $

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Source: SEC EDGAR

accession 0001492691-24-000005

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