Knight-Swift (KNX) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Knight-Swift Transportation Holdings (KNX) reported $1.86 billion in revenue for the quarter ended December 2025, representing a year-over-year decline of 0.4%. EPS of $0.31 for the same period compares to $0.36 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.9 billion, representing a surprise of -2.16%. The company delivered an EPS surprise of -14.29%, with the consensus EPS estimate being $0.36.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Knight-Swift performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Operating Ratio: 98.6% versus the five-analyst average estimate of 95.4%.
• Adjusted Operating Ratio: 94% versus 94% estimated by five analysts on average.
• Adjusted Operating Ratio - Truckload: 92.9% versus 93% estimated by four analysts on average.
• Adjusted Operating Ratio - LTL: 95.1% versus 94.6% estimated by four analysts on average.
• Truckload and LTL fuel surcharge: $190.31 million compared to the $195.63 million average estimate based on five analysts. The reported number represents a change of +1.4% year over year.
• Revenue, excluding truckload and LTL fuel surcharge: $1.67 billion versus $1.7 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.6% change.
• Operating revenue- LTL: $344.75 million versus $365.64 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.2% change.
• Operating revenue- Truckload: $1.22 billion versus the three-analyst average estimate of $1.25 billion. The reported number represents a year-over-year change of -2.2%.
• Operating revenue- Intermodal: $95.66 million versus the three-analyst average estimate of $100.57 million. The reported number represents a year-over-year change of -3.4%.
• Revenue, excluding fuel surcharge and intersegment transactions- Truckload Segment: $1.08 billion versus the three-analyst average estimate of $1.11 billion. The reported number represents a year-over-year change of -2.4%.
• Operating Revenue- Logistics: $159.97 million compared to the $163.53 million average estimate based on three analysts. The reported number represents a change of -4.8% year over year.
• Revenue, excluding fuel surcharge- LTL Segment: $298.5 million versus $307.84 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7% change.

View all Key Company Metrics for Knight-Swift here>>>

Shares of Knight-Swift have returned +2.7% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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