Stock Monitor: ArcBest Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 15, 2018 / If you want access to our free earnings report on Knight-Swift Transportation Holdings Inc. (NYSE: KNX) ("Knight-Swift"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=KNX. On April 25, 2018, Knight-Swift reported financial results for the first quarter of 2018 ending March 31, 2018. The Company surpassed analysts' estimates for earnings but missed revenue forecasts for Q1 FY18. It must be noted that the reported results include the results of Swift only after the September 08, 2017, merger date and hence affect comparability. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
Knight-Swift's total revenues reached $1.27 billion for Q1 FY18, reflecting an increase of 368.74% from $271.18 million in Q1 FY17. In the quarter under review, the Company's revenue before fuel surcharge was $1.12 billion and fuel-surcharge was $146.96 million. The reported total revenue number missed analysts' consensus estimates by $30 million. Knight-Swift's first quarter 2018 results highlighted progress on synergy opportunities across brands and continued strength in freight demand and pricing.
During Q1 FY18, Knight-Swift incurred total operating expenses of $1.18 billion, 373.71% higher than $248.54 million in Q1 FY17. The Company's operating income advanced 314.10% to $93.74 million in the reported quarter from $22.64 million in the previous year's same quarter.
Net income attributable to Knight-Swift for the quarter ending March 31, 2018, was $70.36 million, an increase of 373% from $14.88 million in the same period last year. The Company's diluted earnings per share (DEPS) also rose 116.67% to $0.39 in the reported quarter from $0.18 in the year ago same quarter. The reported earnings included amortization of 2017 Merger intangibles. Knight-Swift's adjusted DEPS was $0.44 in Q1 FY18, up 144.44% from $0.18 in Q1 FY17. This was higher than analysts' consensus estimates of $0.40 per share.
During Q1 FY18, Knight's Trucking segment's revenue before fuel surcharge and intersegment transactions were $221.68 million, reflecting an increase of 15.18% from prior year's corresponding quarter. The segment had an operating income of $40.80 million in the reported quarter, up 101.37% from $20.26 million in the year-ago same quarter. This segment's average revenue per tractor increased 17.42% in Q1 FY18 on a y-o-y basis.
Knight's Logistics segment reported revenue before intersegment transactions of $65.80 million in Q1 FY18, an increment of 25.28% from Q1 FY17. This segment had an operating income of $3.58 million in the quarter under review, up 50.63% from $2.38 million in the previous year's same quarter.
Swift's Truckload segment had revenues before fuel surcharge of $371.34 million and operating income of $34.81 million in Q1 FY18. This segment's average revenue per tractor advanced 5.22% on a y-o-y basis in the reported quarter.
Swift's Dedicated segment had revenues before fuel surcharge of $135.31 million and operating income of $15.20 million in Q1 FY18. This segment's average revenue per tractor jumped 0.06% on a y-o-y basis in Q1 FY18.
Swift's Refrigerated segment had revenues before fuel surcharge of $179.93 million and operating income of $9.44 million in Q1 FY18. This segment's average revenue per tractor fell 0.39% on a y-o-y basis in the quarter under review.
Swift's Intermodal segment had revenues before fuel surcharge of $88.47 million and operating income of $3.84 million in Q1 FY18. This segment's average revenue per tractor fell 0.21% on a y-o-y basis in reported quarter.
Knight-Swift had cash and cash equivalents of $79.18 million as on March 31, 2018, an increase of 3.31% from $76.65 million as on December 31, 2017. The Company had a long-term debt (less current portion) of $364.41 million at the end of Q1 FY18, a slight decrease of 0.10% from $364.77 million at the end of Q4 FY17.
Knight-Swift's net cash flow from operating activities for Q1 FY18 was $208.86 million, an increase of 218.95% from $65.48 million for the same period last year. The Company spent $56.47 million on purchases of property and equipment in the reported quarter compared to $17.02 million in prior year's corresonding quarter, reflecting an increase of 231.82%.
Knight-Swift distributed $10.98 million on dividends in Q1 FY18 compared to $5.09 million in Q1 FY17.
On May 10, 2018, Knight-Swift's Board of Directors declared a quarterly cash dividend of $0.06 per share of common stock, payable on June 27, 2018, to shareholders of record as on June 01, 2018.
Stock Performance Snapshot
May 14, 2018 - At Monday's closing bell, Knight-Swift Transportation's stock climbed 1.22%, ending the trading session at $40.66.
Volume traded for the day: 1.97 million shares.
Stock performance in the previous six-month period – up 5.20%; and past twelve-month period – up 28.12%
After yesterday's close, Knight-Swift Transportation's market cap was at $7.22 billion.
Price to Earnings (P/E) ratio was at 38.72.
The stock has a dividend yield of 0.59%.
The stock is part of the Services sector, categorized under the Trucking industry. This sector was up 0.3% at the end of the session.
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