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What To Expect From Knight-Swift Transportation’s (KNX) Q3 Earnings

StockStory - Tue Oct 22, 2:02AM CDT

KNX Cover Image

Freight delivery company Knight-Swift Transportation (NYSE:KNX) will be reporting results tomorrow after market close. Here’s what to look for.

Knight-Swift Transportation met analysts’ revenue expectations last quarter, reporting revenues of $1.85 billion, up 18.9% year on year. It was a slower quarter for the company, with a miss of analysts’ earnings estimates and underwhelming earnings guidance for the next quarter.

Is Knight-Swift Transportation a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Knight-Swift Transportation’s revenue to decline 5.4% year on year to $1.91 billion, a reversal from the 6.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.32 per share.

Knight-Swift Transportation Total Revenue

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 7 downward revisions over the last 30 days (we track 13 analysts). Knight-Swift Transportation has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Knight-Swift Transportation’s peers in the transportation and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. CSX delivered year-on-year revenue growth of 1.3%, missing analysts’ expectations by 1.5%, and FedEx reported flat revenue, falling short of estimates by 1.5%. CSX traded down 6.7% following the results while FedEx was also down 15.3%.

Read our full analysis of CSX’s results here and FedEx’s results here.

There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 2.3% on average over the last month. Knight-Swift Transportation’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $55.91 (compared to the current share price of $52.26).

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