KNIGHT-SWIFT TRANSPORTATION Reports FY2023 Q2 Earnings Results for June 30, 2023
August 21, 2023
🌥️Earnings Overview
KNIGHT-SWIFT ($NYSE:KNX): On July 20 2023, Knight-Swift Transportation revealed their fiscal year 2023 second quarter results for the period ending June 30 2023. The company reported a total revenue of USD 1553.0 million, a 20.8% decrease from the same period last year. Likewise, net income was down 71.1%, amounting to USD 63.3 million.
Market Price
On Thursday, KNIGHT-SWIFT TRANSPORTATION released its fiscal year 2023 second-quarter earnings results for the period ending June 30, 2023. The stock opened at $56.3 and closed at $55.8, down 0.9% from its previous closing price of 56.4.
However, the company has seen an improvement in operating expenses, which were down 4% year-over-year. KNIGHT-SWIFT TRANSPORTATION’s CEO Mark Knight said this quarter’s earnings results reflect the company’s continued focus on cost savings and productivity improvements. The company believes that these initiatives will help the firm maintain its financial strength in the coming quarters. He further added that the company is committed to providing its customers with reliable and safe transportation services and will continue to invest in technology and infrastructure to support future growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Knight-swift Transportation. More…
| Total Revenues | Net Income | Net Margin |
| 6.83k | 511.11 | 7.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Knight-swift Transportation. More…
| Operations | Investing | Financing |
| 1.32k | -646.18 | -754.35 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Knight-swift Transportation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.44k | 4.36k | 43.91 |
Key Ratios Snapshot
Some of the financial key ratios for Knight-swift Transportation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.2% | 20.0% | 11.1% |
| FCF Margin | ROE | ROA |
| 6.3% | 6.7% | 4.1% |
Analysis
At GoodWhale, we have conducted an analysis of KNIGHT-SWIFT TRANSPORTATION‘s wellbeing. Through our Risk Rating tool, we have determined that this company is a low risk investment when it comes to both financial and business aspects. However, there is one risk warning present in their balance sheet that could warrant further investigation. To get full access to this alert and all of our other assessments, register today with GoodWhale. With our help, you can easily identify and minimize the risks associated with your investments. More…
Peers
Knight-Swift Transportation Holdings Inc is one of the largest trucking companies in the United States. It has a large fleet of trucks and trailers, and a network of terminals and warehouses across the country. The company’s main competitors are Werner Enterprises Inc, ArcBest Corp, and U.S. Xpress Enterprises Inc.
– Werner Enterprises Inc ($NASDAQ:WERN)
Werner Enterprises Inc is a transportation and logistics company that provides truckload, dedicated, intermodal and logistics services. It has a market cap of 2.46B as of 2022 and a Return on Equity of 20.57%. The company was founded in 1956 and is headquartered in Omaha, Nebraska.
– ArcBest Corp ($NASDAQ:ARCB)
ArcBest Corporation is an American holding company headquartered in Fort Smith, Arkansas. Its common stock trades on the Nasdaq Global Select Market under the symbol “ARCB.” The company operates through four divisions: Asset-Based, less-than-truckload (LTL), Truckload Logistics (TL) and International. ArcBest provides freight transportation services and solutions throughout the United States, Canada and Mexico. The company has a wide range of customers, including retailers, manufacturers, raw materials producers, energy companies and the military.
– U.S. Xpress Enterprises Inc ($NYSE:USX)
U.S. Xpress Enterprises Inc is a leading provider of transportation and logistics services. The company has a market cap of 123.02M as of 2022 and a Return on Equity of 2.37%. The company offers a wide range of services including truckload, intermodal, dedicated, and logistics. The company has a strong presence in the United States and Canada.
Summary
Knight-Swift Transportation reported its second quarter earnings results for the period ending June 30 2023, and the financial performance was disappointing. Total revenue decreased by 20.8%, amounting to USD 1553.0 million, while net income was significantly lower by 71.1%, standing at USD 63.3 million. Investors should consider the company’s performance in comparison to competitors to decide whether to invest in Knight-Swift. Additionally, potential investors should also look at the company’s recent movements such as management changes and any new strategic plans in order to determine the future potential of the company.
Related Posts
Recent Posts
