Knight-Swift Transportation Beats Q2 Estimates, Raises FY21 Guidance

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.

Momentum26.48

Growth37.80

Quality14.18

Value52.07

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