Knight-Swift: 2Q Earnings Snapshot
PHOENIX (AP) _ Knight-Swift Transportation Holdings Inc. (KNX) on Wednesday reported second-quarter profit of $79.2 million.
On a per-share basis, the Phoenix-based company said it had profit of 46 cents. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The trucking company posted revenue of $1.24 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $1.26 billion.
For the current quarter ending in October, Knight-Swift expects its per-share earnings to range from 54 cents to 57 cents.
Knight-Swift shares have risen 51% since the beginning of the year. The stock has fallen 1% in the last 12 months.