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- Knight-Swift Transportation Holdings Inc KNX reported second-quarter revenue growth of 24% year-over-year to $1.32 billion, beating the analysts’ consensus of $1.29 billion.
- Adjusted EPS $0.98 beats analysts’ consensus of $0.87.
- Revenue by segments: Trucking $882.56 million (+8.2% Y/Y), Logistics $162.17 million (+141.8% Y/Y) and Intermodal $115.29 million (+39.4% Y/Y).
- Adjusted operating margin expanded by about 390 bps to 15.6%.
- The average revenue per tractor increased by 10.3% Y/Y to $48,939.
- Logistics revenue per load (brokerage only) increased by 55.8% Y/Y to $2,193, and Intermodal average revenue per load increased by 16.3% Y/Y to $2,616.
- Net cash provided by operating activities year-to-date was $459.5 million, compared to $383.36 million a year ago.
- The company acquired UTXL in June 2021, adding expedited brokerage to their suite of services, and AAA Cooper in July, their first significant step into the LTL market.
- Outlook: The company expects 2021 adjusted EPS of $3.90 to $4.05, revised from the prior range of $3.45 to $3.60, versus the consensus of $3.64.
- Price Action: KNX shares are trading lower by 2.33% at $46.96 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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