Freight delivery company Knight-Swift Transportation (NYSE:KNX) will be reporting results this Wednesday afternoon. Here’s what you need to know.
Knight-Swift Transportation beat analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $1.82 billion, flat year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EPS estimates.
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 grow 1.3% year on year to $1.87 billion, slowing from the 18.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.33 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 13 downward revisions over the last 30 days (we track 15 analysts). 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 1.9% and delivered flat year-on-year revenue. The stock was down 3.2% on 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 5.9% 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 $52.04 (compared to the current share price of $44.43).
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