Knight-Swift Transportation (NYSE:KNX) Announces Earnings Results, Beats Expectations By $0.07 EPS

Knight-Swift Transportation (NYSE:KNX) released its earnings results on Wednesday. The transportation company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07, FiscalAI reports. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.16 billion. Knight-Swift Transportation had a return on equity of 4.72% and a net margin of 1.92%. Knight-Swift Transportation’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Here are the key takeaways from Knight-Swift Transportation’s conference call:

• Truckload margins improved significantly: Revenue per mile excluding fuel surcharge rose 12.2% year over year in Q3, while cost per mile increased 3.5%, allowing 68% of rate gains to flow through to margin. Management expects further sequential operating-income improvement in Q4.
• Capacity tightening is supporting pricing: Strong tender rejection rates, peak-season projects, and ongoing mini-bid activity are improving contract pricing, with management expecting to begin the 2027 bid season with low- to mid-double-digit rate increases.
• Intermodal and Logistics delivered momentum: Intermodal reached its highest quarterly load count in more than five years, with revenue per load excluding fuel up 5.5% year over year, while Logistics adjusted operating income improved nearly 20% despite a 1% revenue decline.
• Near-term seasonality and cost risks remain: Management expects All Other Segments to post an operating loss in Q4 as warehousing activity slows against a higher fixed-cost base, while fuel, driver pay, insurance claims, and equipment costs remain potential pressures.
• Q4 earnings guidance is above the prior year: Adjusted EPS is projected at $0.78–$0.84, compared with $0.32 in Q3 2025, supported primarily by Truckload rate realization and seasonal project activity.

Knight-Swift Transportation Stock Down 1.0%

Shares of Knight-Swift Transportation stock opened at $62.54 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. Knight-Swift Transportation has a 52-week low of $41.24 and a 52-week high of $82.86. The company’s 50 day moving average price is $66.99 and its 200-day moving average price is $69.63. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 0.54 and a beta of 1.21.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were issued a $0.20 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 307.69%.

Knight-Swift Transportation News Roundup

Here are the key news stories impacting Knight-Swift Transportation this week:

• Positive Sentiment: Q3 results exceeded expectations. Knight-Swift reported adjusted earnings of $0.83 per share versus consensus estimates of approximately $0.75-$0.76, while revenue reached $2.20 billion against expectations of $2.16 billion. Revenue increased 14.2% year over year, and earnings more than doubled from $0.32 per share in the prior-year quarter. First look: Knight-Swift’s Q3 beats expectations
• Positive Sentiment: Margins and truckload pricing are recovering. Coverage highlighted better truckload pricing, tighter trucking capacity, and a recovery in operating margins as important drivers of the quarterly beat. Management expects truckload operating income to improve meaningfully on a sequential basis. Knight-Swift Q3 results top expectations
• Positive Sentiment: Analysts continue to see upside. Stifel raised its price target to $92 and maintained a buy rating, while JPMorgan increased its target to $74 but retained a neutral rating. Wells Fargo remains overweight despite trimming its target to $79. Stifel analyst action
• Neutral Sentiment: Fourth-quarter guidance points to continued improvement. Knight-Swift projected adjusted Q4 2026 EPS of $0.78-$0.84, suggesting earnings should remain solid while the recovery develops. Knight-Swift Q4 earnings outlook
• Negative Sentiment: Profitability remains a concern. Despite the earnings recovery, the reported net margin was only 1.92% and return on equity was 4.72%. The strong quarter may therefore be viewed as an early-stage recovery rather than evidence of normalized profitability, limiting enthusiasm for the stock.
• Negative Sentiment: The market reaction has been muted. The results were strong, but much of the improvement may already be reflected in expectations. Mixed analyst actions—including Wells Fargo’s target reduction and JPMorgan’s neutral stance—may be contributing to pressure on KNX after the report. Knight Swift Q3 earnings and margin recovery

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, CEO Reid Dove sold 126,864 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $73.13, for a total value of $9,277,564.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Cary M. Flanagan sold 3,600 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $70.82, for a total transaction of $254,952.00. Following the completion of the transaction, the chief accounting officer owned 5,405 shares in the company, valued at $382,782.10. The trade was a 39.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 224,954 shares of company stock worth $16,183,454 in the last three months. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KNX. Bank of America lowered their price objective on shares of Knight-Swift Transportation from $98.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Susquehanna decreased their target price on shares of Knight-Swift Transportation from $96.00 to $85.00 and set a “positive” rating on the stock in a research report on Friday, October 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Knight-Swift Transportation in a research report on Friday, October 9th. Benchmark boosted their price target on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $84.00 price target on shares of Knight-Swift Transportation in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus price target of $82.78.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.