Knight-Swift cuts Q1 adjusted EPS guidance to $0.11-$0.12 from $0.37-$0.41; Q2 to $0.26-$0.30

Knight-Swift Transportation Holdings Inc.

2024-Q1 EPS reported -$0.02 revenue$1,822,467,000

Adjusted EPS for Q1 2024 now $0.11-$0.12 (prior $0.37-$0.41); includes $0.08 loss from discontinued insurance business.
Excluding insurance loss, Q1 Adjusted EPS would be $0.19-$0.20; truckload market oversupplied and weather disruption cited.
Q2 2024 Adjusted EPS guided $0.26-$0.30 (prior $0.53-$0.57); expects truckload OR in mid-90s, LTL revenue +10-15% YoY.
U.S. Xpress acquisition expected to have roughly break-even Q2 results; overall revenues stabilizing at ~5% decline from Q4.
Company will provide Q3 guidance with Q1 earnings release on April 24, 2024; Intangible amortization ~$0.08 per quarter.

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 0.9

Knight-Swift Transportation Holdings Inc. reported first and second quarters of 2024 results: EPS $0.11 to $0.12 (first quarter) and $0.26 to $0.30 (second quarter). Guidance lowered.

Period: first and second quarters of 2024
EPS: $0.11 to $0.12 (first quarter) and $0.26 to $0.30 (second quarter)
Guidance: lowered
Result: guidance update

Exact text from the filing

the Company now expects that Adjusted EPS (1) for the first quarter of 2024 will range from $0.11 to $0.12 (which is an update from the previously-announced expectation of $0.37 to $0.41).

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Source: SEC EDGAR

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