Knight-Swift Transportation (KNX) Reports Q1: Everything You Need To Know Ahead Of Earnings

Freight delivery company Knight-Swift Transportation (NYSE:KNX) will be reporting earnings tomorrow after the bell. Here’s what you need to know.

Knight-Swift Transportation missed analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $1.86 billion, down 3.5% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a slight miss of analysts’ sales volume estimates.

Is Knight-Swift Transportation a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Knight-Swift Transportation’s revenue to decline 1.5% year on year to $1.80 billion, a reversal from the 11.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Knight-Swift Transportation has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Knight-Swift Transportation’s peers in the transportation and logistics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. FedEx delivered year-on-year revenue growth of 1.9%, beating analysts’ expectations by 0.9%, and CSX reported a revenue decline of 7%, falling short of estimates by 1.1%. FedEx traded down 6.3% following the results while CSX was up 1.4%.

Read our full analysis of FedEx’s results here and CSX’s results here.

Stocks generally had a good 2024. The Fed fought high inflation and won without sending the economy into a recession, otherwise lovingly known as a soft landing. The U.S. Central Bank is now cutting rates. That, plus the election of Donald Trump in November 2024, sent markets even higher, and while some of the transportation and logistics stocks have shown solid performance, the group has generally underperformed, with share prices down 11.3% on average over the last month. Knight-Swift Transportation is down 14.1% during the same time and is heading into earnings with an average analyst price target of $53.61 (compared to the current share price of $38.62).

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