PHOENIX - Knight-Swift Transportation Holdings Inc. (NYSE:KNX) reported third quarter earnings that exceeded analyst expectations, while revenue fell short of estimates. The trucking company also provided guidance for the upcoming quarters.
Knight-Swift reported adjusted earnings per share of $0.34 for the third quarter, surpassing the analyst consensus of $0.32 by $0.02. However, revenue for the quarter came in at $1.88 billion, missing the consensus estimate of $1.91 billion.
For the fourth quarter of 2024, the company expects earnings per share to be between $0.32 and $0.36, with the midpoint of $0.34 aligning with the current analyst consensus. Looking ahead to the first quarter of 2025, Knight-Swift projects earnings per share in the range of $0.29 to $0.33, below the analyst estimate of $0.36.
Adam W. Miller, CEO of Knight-Swift, commented on the results, saying, "Despite challenging market conditions, we're pleased to have exceeded earnings expectations this quarter, demonstrating the resilience of our diversified business model."
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