Knight-Swift Transportation Holdings Inc

Latest Results (21.12.2024):

Net Income and Earnings

Knight-Swift Transportation Holdings Inc. reported a net income attributable to the company of $30.5 million for the third quarter of 2024. The adjusted net income was $54.4 million. The GAAP earnings per diluted share were $0.19, a decrease from $0.37 in the third quarter of 2023. The adjusted earnings per share stood at $0.34, compared to $0.41 in the same period last year.

Revenue and Operating Income

For the third quarter of 2024, Knight-Swift Transportation Holdings Inc. recorded consolidated total revenue of $1.9 billion, marking a 7.1% decrease from the third quarter of 2023. The consolidated operating income was $81.4 million, showing a slight increase of 0.4% compared to the previous year. The company's consolidated operating ratio was 95.7%, with an adjusted operating ratio of 93.9%.

Segment Performance: Truckload

The Truckload segment of Knight-Swift Transportation Holdings Inc. experienced a 6.1% year-over-year decline in revenue, excluding fuel surcharge and intersegment transactions, during the third quarter of 2024. The adjusted operating ratio for this segment was 95.6%. Revenue per loaded mile remained flat year-over-year but showed a slight increase over the second quarter.

Segment Performance: Less-Than-Truckload (LTL)

Knight-Swift Transportation Holdings Inc.'s LTL segment saw a 16.7% increase in revenue, excluding fuel surcharge, in the third quarter of 2024 compared to the previous year. The adjusted operating ratio for this segment was 89.6%. Despite the revenue growth, adjusted operating income declined by 19.5% due to start-up costs and early-stage operations at newly opened facilities.

Dividend and Tax Rate

In the third quarter of 2024, Knight-Swift Transportation Holdings Inc. declared a quarterly cash dividend of $0.16 per share. The effective tax rate on GAAP results was 32.0%, compared to (2.1)% in the third quarter of 2023. The adjusted effective tax rate was 29.3%, up from 23.2% in the same period last year.