Knight-Swift (KNX) to Report Q4 Earnings: What's in Store?
Knight-Swift Transportation Holdings Inc. KNX is scheduled to report fourth-quarter 2023 results on Jan 24, after market close.
Let’s see how things have shaped up for KNX this earnings season.
Q4 Expectations
The Zacks Consensus Estimate for Knight-Swift’s fourth-quarter 2023 revenues is pegged at $1.94 billion, indicating 11.03% year-over-year growth.
On the flip side, high costs related to driver wages, equipment, maintenance, fuel, and other expenses continue to weigh on Knight-Swift’s bottom line. Notably, the Zacks Consensus Estimate for KNX’s fourth-quarter 2023 earnings has been revised downward by 10% in the past 90 days.
Further, Knight-Swift has an unimpressive earnings surprise history, having lagged the Zacks Consensus Estimate in three of the preceding four quarters (outpaced in one), the average miss being 7.33%.
Lowered earnings per share (EPS) guidance for 2023 looks disappointing for Knight-Swift. Management now expects adjusted EPS in the range of $2.10-$2.20 (earlier view: $2.10-$2.30) for 2023. Knight-Swift continues to expect capital expenditures for 2023 in the $700-$750 million band.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Knight-Swift this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Knight-Swift has an Earnings ESP of -1.29% and a Zacks Rank #3.
Knight-Swift Transportation Holdings Inc. Price and EPS Surprise
Knight-Swift Transportation Holdings Inc. price-eps-surprise | Knight-Swift Transportation Holdings Inc. Quote
Highlights of Q3
Knight-Swift's third-quarter 2023 earnings of 41 cents per share surpassed the Zacks Consensus Estimate of 39 cents but declined 67.7% year over year. Total revenues of $2,019.9 million also outperformed the Zacks Consensus Estimate of $1,915.4 million and improved 6.5% year over year.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on their fourth-quarter 2023 earnings:
American Airlines Group Inc. AAL has an Earnings ESP of +43.10% and a Zacks Rank #2. AAL will release results on Jan 25. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for AAL’s fourth-quarter 2023 earnings has been revised upward by more than 100% in the past 90 days. AAL delivered a trailing four-quarter earnings surprise of 23.83%, on average.
Shares of AAL have gained 13.1% in the past three months.
Copa Holdings, S.A. CPA has an Earnings ESP of +6.71% and a Zacks Rank #2. CPA will release results on Feb 7.
The Zacks Consensus Estimate for CPA’s fourth-quarter 2023 earnings has been revised upward by 5.1% in the past 90 days. CPA delivered a trailing four-quarter earnings surprise of 16.81%, on average.
Shares of CPA have gained 11.2% in the past three months.
Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation WAB, has an Earnings ESP of +0.85% and a Zacks Rank #2. WAB will release results on Feb 14.
WAB has an expected earnings growth rate of 20.77% for fourth-quarter 2023. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s fourth-quarter 2023 earnings has improved 3.3% over the past 90 days. Shares of WAB have gained 25.7% in the past three months.
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Knight-Swift Transportation Holdings Inc. (KNX) : Free Stock Analysis Report
Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
Westinghouse Air Brake Technologies Corporation (WAB) : Free Stock Analysis Report
