Freight delivery company Knight-Swift Transportation (NYSE: KNX) will be announcing earnings results this Wednesday after the bell. Here’s what investors should know.
Knight-Swift Transportation beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $1.93 billion, up 2.7% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and EPS guidance for next quarter missing analysts’ expectations significantly.
Is Knight-Swift Transportation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Knight-Swift Transportation’s revenue to grow 2.1% year on year to $1.90 billion, a reversal from the 3.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.35 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Knight-Swift Transportation has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Knight-Swift Transportation’s peers in the transportation and logistics segment, only FedEx has reported results so far. It beat analysts’ revenue estimates by 3%, delivering year-on-year sales growth of 6.8%. The stock price was unchanged following the results.
Read our full analysis of FedEx’s earnings results here.There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 8.8% on average over the last month. Knight-Swift Transportation is up 6% during the same time and is heading into earnings with an average analyst price target of $61.21 (compared to the current share price of $56.65).
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