• ITVI.USA
    15,130.160
    96.590
    0.6%
  • OTRI.USA
    24.070
    -0.310
    -1.3%
  • OTVI.USA
    15,125.210
    107.720
    0.7%
  • TLT.USA
    2.710
    -0.010
    -0.4%
  • TSTOPVRPM.ATLPHL
    3.350
    0.280
    9.1%
  • TSTOPVRPM.CHIATL
    3.090
    0.230
    8%
  • TSTOPVRPM.DALLAX
    1.730
    0.070
    4.2%
  • TSTOPVRPM.LAXDAL
    3.100
    0.150
    5.1%
  • TSTOPVRPM.PHLCHI
    2.160
    0.120
    5.9%
  • TSTOPVRPM.LAXSEA
    3.570
    0.220
    6.6%
  • WAIT.USA
    125.000
    -2.000
    -1.6%
  • ITVI.USA
    15,130.160
    96.590
    0.6%
  • OTRI.USA
    24.070
    -0.310
    -1.3%
  • OTVI.USA
    15,125.210
    107.720
    0.7%
  • TLT.USA
    2.710
    -0.010
    -0.4%
  • TSTOPVRPM.ATLPHL
    3.350
    0.280
    9.1%
  • TSTOPVRPM.CHIATL
    3.090
    0.230
    8%
  • TSTOPVRPM.DALLAX
    1.730
    0.070
    4.2%
  • TSTOPVRPM.LAXDAL
    3.100
    0.150
    5.1%
  • TSTOPVRPM.PHLCHI
    2.160
    0.120
    5.9%
  • TSTOPVRPM.LAXSEA
    3.570
    0.220
    6.6%
  • WAIT.USA
    125.000
    -2.000
    -1.6%
Company earningsIntermodalLogisticsNewsTruckingTruckloadTruckload Carriers

Knight-Swift Q4 first look: Big improvement as expected

Stock down 4% in early trading

The nation’s largest truckload carrier, Knight-Swift Transportation (NYSE: KNX), reported Wednesday fourth-quarter adjusted earnings per share of 94 cents, ahead of the consensus estimate of 91 cents and well ahead of the year-ago result of 55 cents.

The Phoenix-based company reported continued improvement in its truckload segment with revenue, excluding fuel, up 9% year-over-year and adjusted operating income climbing 64%. Revenue per tractor increased 11% as rate per loaded mile, excluding fuel, climbed 14% to $2.64.

The TL segment posted an adjusted operating ratio of 79.3%, 690 basis points better year-over-year.

The company’s brokerage segment posted revenue growth of 35% year-over-year with gross margins increasing 90 bps to 16.4%. Revenue per load increased 51% to $2,155. Loads were down 9%.

Intermodal saw steady top-line results with loads and revenue per load improving modestly. The division’s OR improved 470 bps to 94.8%.

2021 adjusted earnings per share guidance remained unchanged at $3.20 to $3.40, bracketing consensus of $3.36.

Shares were down nearly 4% in early trading Wednesday compared to the S&P 500, which was off 1.5%.

Table: Knight-Swift’s key performance indicators

Click for more FreightWaves articles by Todd Maiden.

Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.

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