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Dec 31, 2024
Knight-Swift Q4 2024 Earnings Report
Knight-Swift reported mixed results for Q4 2024, with strong truckload performance offsetting LTL expansion costs.
Key Takeaways
Knight-Swift Transportation Holdings Inc. reported Q4 2024 net income of $69.5 million, or $0.43 per diluted share. Adjusted EPS was $0.36. Consolidated total revenue was $1.9 billion, a 3.5% decrease from Q4 2023. The truckload segment saw an improved Adjusted Operating Ratio, while the LTL segment experienced revenue growth but decreased Adjusted Operating Income due to expansion costs.
Consolidated total revenue decreased by 3.5% year-over-year to $1.9 billion.
GAAP earnings per diluted share were $0.43, compared to $(0.07) in the prior year.
The LTL segment experienced a 20.2% year-over-year increase in revenues, excluding fuel surcharge.
Adjusted Operating Ratio for the truckload segment improved 170 basis points year-over-year to 92.2%.
Knight-Swift
Knight-Swift
Knight-Swift Revenue by Segment
Revenue by Segment
Truckload Revenue
CapyFin.comLTL Revenue
CapyFin.comLogistics Revenue
CapyFin.comIntermodal Revenue
CapyFin.com Forward Guidance
The company expects Adjusted EPS to range from $0.29 to $0.33 for Q1 2025 and $0.46 to $0.50 for Q2 2025, anticipating a gradual recovery in market conditions.
Positive Outlook
- Truckload segment revenue seasonally down low-to-mid single-digit percent sequentially in the first quarter and up mid-single-digit percent sequentially into the second quarter.
- LTL Segment revenue, excluding fuel surcharge, growth between 20% - 25% year-over-year in first and second quarters.
- Adjusted Operating Ratio modestly improves sequentially in the LTL first quarter and moves into high 80’s in the second quarter.
- Logistics Segment revenue up high single-digit percent year-over-year in both first and second quarters, with Adjusted Operating Ratio remaining stable with fourth quarter levels.
- Intermodal Segment load count up low-to-mid-teens percent year-over-year in both first and second quarters
Challenges Ahead
- Truckload segment operating margins declining modestly sequentially in the first quarter.
- Tractor count down low single-digit percent sequentially in the first quarter.
- Approximately break-even operating margins in Intermodal first quarter.
- Net interest expense down modestly sequentially in the first quarter and stable sequentially into the second quarter.
- The factors described under "Forward-Looking Statements," among others, could cause actual results to materially vary from this guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income