Knight-Swift Q2 GAAP EPS $0.13 vs $0.39 YoY; adjusted EPS $0.24; revenue up 19%

Knight-Swift Transportation Holdings Inc.

2024-Q2 EPS reported $0.11 revenue$3,669,121,000

Net income $20.3M, down 68% YoY; GAAP EPS $0.13 vs $0.39; adjusted EPS $0.24 vs $0.49, including $0.06 charge from 2020 auto claim settlement.
Total revenue $1.85B, up 18.9% largely from U.S. Xpress; operating income $63.5M, down 32.5%.
Truckload adj. OR 97.2% (impacted 120bps by settlement); LTL adj. OR 85.9%, revenue ex-fuel up 15.1%, 11 new LTL terminals opened.
Guidance: Q3 adj. EPS $0.31-$0.35, Q4 adj. EPS $0.32-$0.36; full-year net capex reduced to $600-650M from $625-675M.
Free cash flow YTD $52.1M; net debt $2.5B; quarterly dividend maintained at $0.16/share.

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