Knight-Swift (KNX) Reports Q3 Earnings: What Key Metrics Have to Say

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For the quarter ended September 2023, Knight-Swift Transportation Holdings (KNX) reported revenue of $2.02 billion, up 6.5% over the same period last year. EPS came in at $0.41, compared to $1.27 in the year-ago quarter.

The reported revenue represents a surprise of +5.46% over the Zacks Consensus Estimate of $1.92 billion. With the consensus EPS estimate being $0.39, the EPS surprise was +5.13%.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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:

  • Adjusted Operating Ratio: 94.9% versus the five-analyst average estimate of 93.6%.

  • Adjusted Operating Ratio - LTL: 84.9% versus 88.3% estimated by five analysts on average.

  • Adjusted Operating Ratio - Intermodal: 104.5% versus 104.6% estimated by five analysts on average.

  • Adjusted Operating Ratio - Logistics: 93.3% versus 93.2% estimated by five analysts on average.

  • Operating Revenue- Truckload: $1.38 billion versus $1.26 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +19% change.

  • Operating Revenue- Logistics: $159.49 million compared to the $151.41 million average estimate based on four analysts. The reported number represents a change of -24.3% year over year.

  • Revenue, excluding fuel surcharge and intersegment transactions- Truckload Segment: $1.18 billion compared to the $1 billion average estimate based on four analysts. The reported number represents a change of +21.9% year over year.

  • Operating revenue- LTL: $284.17 million compared to the $277.02 million average estimate based on four analysts. The reported number represents a change of +26.6% year over year.

  • Revenue, excluding truckload and LTL fuel surcharge: $1.78 billion compared to the $1.68 billion average estimate based on four analysts. The reported number represents a change of +7.6% year over year.

  • Operating revenue- Intermodal: $101.22 million versus the four-analyst average estimate of $107.63 million. The reported number represents a year-over-year change of -22.6%.

  • Truckload and LTL fuel surcharge: $244.69 million versus $207.30 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.9% change.

  • Revenue, excluding fuel surcharge- LTL Segment: $239.98 million versus the four-analyst average estimate of $240.01 million.

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

Shares of Knight-Swift have returned -10.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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