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Key Takeaways Knight-Swift's adjusted EPS rose 80% as revenues climbed 12.6% and margins improved.Truckload adjusted income surged 69.4% as pricing gains and fewer empty miles boosted results.KNX expects Q3 adjusted EPS of 71-77 cents, with further truckload margin expansion. Knight-Swift Transportation Holdings Inc.’s (KNX - Free Report)  second-quarter 2026 adjusted earnings of 63 cents per share beat the Zacks Consensus Estimate of 49 cents by 28.6% and increased 80.0% year over year. Stronger pricing and network efficiency across asset-based operations supported the improvement.

Total revenues of $2.10 billion surpassed the consensus mark of $2.01 billion by 4.3% and rose 12.6% year over year. Truckload revenue per loaded mile, excluding fuel surcharge and intersegment transactions, increased 5.5%.

KNX’s Consolidated Profitability ImprovesRevenues, excluding truckload and LTL fuel surcharge, increased 5.5% year over year to $1.76 billion. Operating income rose 44.4% to $104.85 million, while adjusted operating income advanced 45.5% to $150.95 million.

The consolidated operating ratio improved 110 basis points to 95.0%. The adjusted operating ratio improved 240 basis points to 91.4%, reflecting better pricing and network efficiency across the asset-based businesses. Adjusted net income climbed 79.7% to $102.75 million.

Knight-Swift’s Truckload Engine Accelerates

Truckload revenues, excluding fuel surcharge and intersegment transactions, increased 2.8% year over year to $1.10 billion. The gain came despite a 2.6% decline in loaded miles, as tighter driver availability pressured the seated tractor count.

Adjusted operating income surged 69.4% to $98.92 million. The adjusted operating ratio improved 360 basis points to 91.0%, helped by pricing gains and a 140-basis-point reduction in empty miles. U.S. Xpress’ over-the-road division achieved its first profitable quarter since the acquisition.

KNX’s LTL Mix Supports Margin RecoveryLess-than-truckload (LTL) revenues, excluding fuel surcharge, declined 1.4% to $333.01 million as shipments per day fell 3.7%. However, daily tonnage increased 4.0%, weight per shipment rose 7.9% and length of haul expanded 5.3%.

Revenue per shipment, excluding fuel surcharge, grew 3.4%, while revenue per hundredweight fell 4.2% because of heavier shipments. Adjusted operating income increased 13.3% to $26.45 million, and the adjusted operating ratio improved 100 basis points to 92.1%.

Knight-Swift’s Logistics and Intermodal DivergeLogistics revenues rose 8.9% to $139.70 million, driven by a 29.6% increase in revenue per load, partly offset by a 16.4% drop in load count. Gross margin contracted 350 basis points to 15.4% as purchased transportation costs increased faster than customer pricing. Adjusted operating income declined 25.7%.

Intermodal revenues jumped 34.9% to $113.39 million. Load count increased 19.6% and revenue per load rose 12.8%, helping the segment post operating income of $0.65 million versus a $3.43 million loss a year earlier. Its operating ratio improved 470 basis points to 99.4%.

KNX’s Other Businesses Face Special ChargesAll Other Segments’ revenues increased 41.8% year over year to $105.56 million, supported by growth in warehousing and trailer leasing. These businesses generated an additional $7 million of income contribution compared with the prior-year quarter.

The segment recorded an operating loss of $10.43 million against an operating income of $6.75 million a year earlier. Results included $5.8 million of accounts receivable securitization costs and an $18.2 million severance charge primarily tied to the former executive chairman’s retirement.

Knight-Swift’s Liquidity and Capital SpendingKnight-Swift ended June with $186.11 million in cash and cash equivalents. In the year-to-date period, operating cash flow was $450.36 million, while free cash flow totaled $190.44 million after $259.92 million of net capital expenditures.

The company issued $1.50 billion of 1% convertible notes and used proceeds to repay floating-rate borrowings. Management expects the refinancing to generate roughly $44 million of annual pretax savings. Full-year net cash capital expenditures are expected to be in the range of $600-$650 million.

KNX’s Q3 Outlook Points HigherKNX expects third-quarter 2026 adjusted earnings of 71-77 cents per share. Truckload revenues, excluding fuel surcharge, are projected to rise by a mid-single-digit percentage, with the adjusted operating ratio improving 650-750 basis points year over year.

LTL revenues, excluding fuel surcharge, are expected to grow by a low-single-digit percentage, with the adjusted operating ratio in the low 90s. Logistics performance is expected to remain fairly stable sequentially, while intermodal revenues are projected to increase by a low-single-digit percentage from the second quarter.

Currently, KNX sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Q2 Performances of Other Transportation CompaniesDelta Air Lines (DAL - Free Report) reported second-quarter 2026 earnings (excluding 88 cents from non-recurring items) of $1.56 per share, beating the Zacks Consensus Estimate of $1.51. Earnings declined in double digits (% wise) from a year ago as sharply higher fuel costs pressured profitability.

Revenues rose on a year-over-year basis to $17.67 billion but missed the consensus estimate of $17.76 billion. Broad demand strength lifted adjusted total revenue per available seat mile, or TRASM, 12.4%, while premium and diversified revenue streams continued to expand.

United Airlines Holdings, Inc. (UAL - Free Report)  reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.

Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68-billion consensus mark. A 12.1% increase in total revenue per available seat mile, or TRASM, and broad-based gains across premium, loyalty and cargo revenues supported the top line despite sharply higher fuel costs.

J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported second-quarter 2026 earnings of $1.91 per share, up 45.8% from $1.31 a year ago. The figure beat the Zacks Consensus Estimate of $1.71 by 11.7%.

Operating revenues climbed 19.4% year over year to $3.50 billion and surpassed the consensus mark of $3.19 billion by 9.5%. Higher volumes and pricing across several businesses supported growth, led by a 10% increase in Intermodal loads.

Knight-Swift Transportation Holdings remains a buy as truckload recovery drives significant earnings growth and margin expansion. Q2 results validate the thesis: truckload adj. EBIT surged 69.4%, adj. EPS grew 80%, and operating ratios improved sharply. US Xpress achieved its first profitable quarter post-acquisition, and LTL profit rose despite lower shipment counts, highlighting operational leverage.

Knight-Swift Transportation Holdings Inc. (KNX) Q2 2026 Earnings Call Transcript

These 3 Stocks Just Got Upgraded—and Could Keep ClimbingKnight-Swift Transportation NYSE: KNX executives said the truckload freight market tightened sharply during the second quarter of 2026, helping drive year-over-year earnings improvement and prompting the company to issue third-quarter adjusted earnings guidance above its second-quarter result.

Chief Executive Officer Adam Miller said spot rates have been “trending well ahead of normal seasonality,” tender rejection rates have reached levels not seen since 2021, and contractual bid activity has become increasingly supportive. He characterized the tightening as “largely supply-driven,” though he said signs of improving demand are beginning to appear.

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Why Goldman Sachs Suddenly Boosted These 3 Trucking StocksMiller said the company’s own tender rejection rates ran at roughly twice the level of public market indications during the second quarter, which he cited as evidence that demand for Knight-Swift’s truckload service offering is outpacing the broader market. He said realized revenue per mile began to recover in the quarter, with revenue per mile accelerating in June as more recent bids took effect. Those bids, he said, largely reflected double-digit percentage pricing gains.

Second-Quarter Earnings Improve Chief Financial Officer Andrew Hess said consolidated revenue, excluding truckload and LTL fuel surcharge, increased 5.5% year over year. GAAP earnings per diluted share were $0.26, up 23.8% from the prior-year period, while adjusted earnings per share were $0.63, an 80% increase. Consolidated adjusted operating ratio improved 240 basis points to 91.4%.

Saia Builds Value: Why Its Uptrend Is Set to ContinueHess said the earnings improvement was primarily driven by pricing and network efficiency gains across the company’s asset-based businesses. He said all reportable segments other than Logistics improved their operating margins and income contribution year over year.

The company projected adjusted earnings per share of $0.71 to $0.77 for the third quarter of 2026. Treasurer and Senior Vice President of Investor Relations Brad Stewart said the outlook reflects recent trends in volumes, spot rates, rate activity and driver hiring, as well as expected seasonal patterns in truckload and LTL services.

Truckload Segment Benefits From Pricing and Network Efficiency Knight-Swift’s Truckload segment increased revenue, excluding fuel surcharge, by 2.8% year over year, while adjusted operating income rose 69.4%. Revenue per loaded mile, excluding fuel surcharge and intersegment transactions, increased 5.5% for the quarter.

Hess said the company reduced deadhead miles by 140 basis points, improving revenue per total mile. The segment’s adjusted operating ratio improved 360 basis points year over year to 91%, which he said was the best adjusted operating margin for the combined Truckload segment in more than three years.

Rate improvement accelerated in June, Hess said, with Truckload revenue per loaded mile, excluding fuel surcharge, up 8.4% year over year and revenue excluding fuel surcharge per tractor up 10.1%. He said results were stronger in the over-the-road service, which he described as the most capacity-constrained portion of the market.

Hess also said U.S. Xpress is making greater rate gains than Knight-Swift’s legacy brands, consistent with the company’s acquisition thesis. He said the U.S. Xpress over-the-road division posted its first profitable quarter since the acquisition.

During the question-and-answer portion of the call, Miller said Knight-Swift started the year with spot market exposure of about 10% and is now in the mid-teens. He said the company is continuing to see mini-bids, turnback bids and project activity as shippers look for capacity.

LTL, Logistics and Intermodal Results Diverge In the LTL segment, revenue excluding fuel surcharge declined 1.4% year over year, driven by a 3.7% decrease in shipments per day as the company metered certain volumes to improve freight mix and network efficiency. Daily tonnage increased 4%, weight per shipment rose 7.9%, and length of haul increased 5.3%.

Revenue per hundredweight, excluding fuel surcharge, declined 4.2%, which Hess attributed to the increase in weight per shipment, while revenue per shipment rose 3.4%. The segment’s adjusted operating ratio improved 100 basis points to 92.1%, and adjusted operating income increased 13.3%.

Hess said LTL demand has been generally stable, with “pockets of improvement” and some indirect benefits from truckload tightness. In response to an analyst question, he said shipments per day improved through the quarter, with year-over-year declines narrowing from 6.5% in April to 3.2% in May and 1.3% in June.

The Logistics segment grew revenue 8.9% year over year, driven by a 29.6% increase in revenue per load, partially offset by a 16.4% decline in load count. Stewart said the company maintained a disciplined approach to profitability and carrier quality. Gross margin declined to 15.4%, down 350 basis points year over year, and the adjusted operating ratio deteriorated 160 basis points to 96.4%.

Intermodal revenue increased 34.9% year over year, with load count up 19.6% and revenue per load up 12.8%. The segment improved its operating ratio by 470 basis points. Stewart said load count improved progressively through the quarter, while core pricing also improved. He said intermodal pricing remains more competitive than truckload, but the company is seeing opportunities from mini-bids, turnback bids and modal conversion.

Regulatory and Legal Changes Seen Tightening Capacity Miller said the company expects ongoing federal efforts to address invalid commercial driver’s licenses, cabotage, non-compliant CDL schools and hours-of-service abuses to continue affecting capacity. He said those initiatives should have an “outsized impact” on the one-way truckload market, particularly among lower-priced capacity.

Miller also discussed the Supreme Court’s Montgomery ruling, saying it could tighten the market further by increasing insurance costs and raising shipper and broker selection standards. He said the ruling should not add cost to Knight-Swift’s asset-based business because of the company’s longstanding safety investments, but could create opportunities as shippers favor quality asset-based capacity.

For brokerage operations, Miller said the ruling could change economic incentives across a large portion of the industry. He said some shippers are asking for higher insurance limits, seeking more information on carrier vetting practices, or requesting the right to approve broker carriers before assignment. He also said Knight-Swift’s brokerage insurance renewal was affected shortly after the ruling, with premium rates increasing to multiples of the prior coverage.

Driver Availability and Capital Structure in Focus Miller said recruiting and retaining quality drivers has become more challenging as market conditions tighten. He said the company is making targeted investments beginning in the third quarter, generally in the form of hiring and productivity incentives, while seeking to preserve margin recovery.

In response to analyst questions, Miller said the current driver labor market differs from 2020 and 2021, when carriers were competing with government stimulus and a tighter overall labor market. He said driver pay increases are expected to be more targeted this cycle, and not as broad-based as in the prior upcycle.

Stewart also reviewed the company’s second-quarter convertible bond issuance. He said Knight-Swift issued bonds at 1% to repay floating-rate debt around 5%, which the company expects to generate approximately $44 million in annual pretax savings after deal costs. The company also used $107 million of proceeds to purchase a call spread, increasing the effective conversion price from roughly $80 per share to $105 per share.

About Knight-Swift Transportation (NYSE:KNX)Knight-Swift Transportation Holdings Inc NYSE: KNX is one of North America's largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company's core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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PHOENIX--(BUSINESS WIRE)--Knight-Swift Transportation Holdings Inc. (NYSE:KNX), one of North America's largest and most diversified freight transportation companies, has released its earnings for the quarter ended June 30, 2026. The release is currently available on the Knight-Swift investor relations website: investor.knight-swift.com and will be filed with the SEC on a Form 8-K. The company will hold a conference call this afternoon from 5:30 to 6:30 PM EDT to further discuss its results of o.

Posted by Defense World Staff on Jul 22nd, 2026

Bank of New York Mellon Corp cut its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,348,564 shares of the transportation company’s stock after selling 37,091 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Knight-Swift Transportation worth $77,650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KNX. Integrated Wealth Concepts LLC grew its position in shares of Knight-Swift Transportation by 23.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,948 shares of the transportation company’s stock valued at $259,000 after purchasing an additional 1,124 shares during the period. Focus Partners Wealth bought a new stake in Knight-Swift Transportation during the 1st quarter worth approximately $451,000. Cetera Investment Advisers increased its stake in Knight-Swift Transportation by 6.9% during the 2nd quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company’s stock worth $607,000 after purchasing an additional 882 shares in the last quarter. Invesco Ltd. raised its holdings in Knight-Swift Transportation by 57.7% during the 2nd quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company’s stock worth $48,110,000 after buying an additional 398,116 shares during the period. Finally, First Trust Advisors LP raised its holdings in Knight-Swift Transportation by 54.3% during the 2nd quarter. First Trust Advisors LP now owns 491,702 shares of the transportation company’s stock worth $21,748,000 after buying an additional 172,956 shares during the period. 88.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In Several research firms have recently weighed in on KNX. Stifel Nicolaus upped their price target on shares of Knight-Swift Transportation from $70.00 to $85.00 and gave the company a “buy” rating in a report on Monday, July 13th. Citizens Jmp initiated coverage on shares of Knight-Swift Transportation in a report on Wednesday, July 15th. They set a “market outperform” rating and a $90.00 price objective on the stock. Barclays boosted their price objective on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. TD Cowen upped their target price on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group increased their target price on Knight-Swift Transportation from $65.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Buy” and a consensus price target of $80.44.

Read Our Latest Research Report on KNX

Knight-Swift Transportation Price Performance NYSE:KNX opened at $76.73 on Wednesday. Knight-Swift Transportation Holdings Inc. has a 52-week low of $38.63 and a 52-week high of $82.86. The company has a market cap of $12.47 billion, a P/E ratio of 365.42, a P/E/G ratio of 0.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day simple moving average is $75.13 and its 200 day simple moving average is $64.61.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $0.28 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.21 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 380.95%.

Knight-Swift Transportation Company Profile (Free Report)

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

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Wall Street analysts expect Knight-Swift Transportation Holdings (KNX - Free Report) to post quarterly earnings of $0.49 per share in its upcoming report, which indicates a year-over-year increase of 40%. Revenues are expected to be $2.01 billion, up 8% from the year-ago quarter.

Over the last 30 days, there has been an upward revision of 7.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

Given this perspective, it's time to examine the average forecasts of specific Knight-Swift metrics that are routinely monitored and predicted by Wall Street analysts.

Analysts forecast 'Revenue, excluding truckload and LTL fuel surcharge' to reach $1.73 billion. The estimate suggests a change of +3.6% year over year.

The consensus among analysts is that 'Truckload and LTL fuel surcharge' will reach $271.42 million. The estimate points to a change of +43.1% from the year-ago quarter.

The consensus estimate for 'Operating revenue- LTL' stands at $405.31 million. The estimate suggests a change of +4.8% year over year.

The collective assessment of analysts points to an estimated 'Revenue, excluding fuel surcharge- LTL Segment' of $340.60 million. The estimate indicates a change of +0.9% from the prior-year quarter.

The average prediction of analysts places 'Operating Ratio' at 93.5%. Compared to the current estimate, the company reported 96.1% in the same quarter of the previous year.

Analysts expect 'Adjusted Operating Ratio' to come in at 92.9%. Compared to the present estimate, the company reported 93.8% in the same quarter last year.

The combined assessment of analysts suggests that 'Adjusted Operating Ratio - Truckload' will likely reach 92.9%. The estimate compares to the year-ago value of 94.6%.

It is projected by analysts that the 'Adjusted Operating Ratio - LTL' will reach 91.4%. The estimate is in contrast to the year-ago figure of 93.1%.

Based on the collective assessment of analysts, 'Adjusted Operating Ratio - Logistics' should arrive at 96.3%. The estimate compares to the year-ago value of 94.8%.

Analysts' assessment points toward 'Average tractors - Truckload' reaching 20,865 . Compared to the present estimate, the company reported 21,311 in the same quarter last year.

According to the collective judgment of analysts, 'Load count - Intermodal' should come in at 38,307 . Compared to the present estimate, the company reported 32,682 in the same quarter last year.

Analysts predict that the 'Average revenue per load - Intermodal' will reach $2623.91 . Compared to the current estimate, the company reported $2572.00 in the same quarter of the previous year.

View all Key Company Metrics for Knight-Swift here>>>

Shares of Knight-Swift have experienced a change of +0.3% in the past month compared to the -0.6% move of the Zacks S&P 500 composite. With a Zacks Rank #1 (Strong Buy), KNX is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, July 20:

Alliance Laundry Holdings Inc. (ALH - Free Report) : This commercial laundry systems company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.4% over the last 60 days.

Alliance Laundry Holdings has a PEG ratio of 1.19 compared with 1.38 for the industry. The company possesses a Growth Score of A.

National Energy Services Reunited Corp. (NESR - Free Report) : This oilfield services company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.5% over the last 60 days.

National Energy Services Reunited has a PEG ratio of 0.32 compared with 0.59 for the industry. The company possesses a Growth Score of B.

Knight-Swift Transportation Holdings Inc. (KNX - Free Report) : This integrated downstream energy company carriesa Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days.

Knight-Swift Transportation Holdings has a PEG ratio of 0.93 compared with 1.71 for the industry. The company possesses a Growth Score of B.

See the full list of top-ranked stocks here.

Learn more about the Growth score and how it is calculated here.

The market expects Knight-Swift Transportation Holdings (KNX - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 22. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis trucking company is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of +40%.

Revenues are expected to be $2.01 billion, up 8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 7.51% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Knight-Swift?For Knight-Swift, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.66%.

On the other hand, the stock currently carries a Zacks Rank of #1.

So, this combination indicates that Knight-Swift will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Knight-Swift would post earnings of $0.09 per share when it actually produced earnings of $0.09, delivering no surprise.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Knight-Swift appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Key Takeaways Knight-Swift trades at a discount forward P/E ratio than its industry average, signaling a cheap valuation.KNX has raised its quarterly dividend annually for seven consecutive years for a 233% overall increase. KNX expects its second-quarter 2026 adjusted earnings per share to be in the range of 45-49 cents. Knight-Swift Transportation Holdings Inc. (KNX - Free Report) performed well in the past year and has the potential to sustain the momentum in the future. The positive sentiment surrounding KNX stock is evident from the fact that the Zacks Consensus Estimate for the third quarter of 2026 and the fourth quarter of 2026 earnings has been revised upward in the past 60 days. The consensus mark for 2026 and 2027 earnings has also been projected northward in the past 60 days.

The favorable estimate revisions indicate brokers’ confidence in the stock.

Image Source: Zacks Investment Research

Now, the question is whether it is worth buying, holding, or selling the Knight-Swift stock at current prices. Let us delve deeper to find out.

Tailwinds Working in Favor of Knight-Swift StockKnight-Swift has been active on the acquisition front to strengthen its revenue stream, which is likely to drive growth and margin expansion.

Knight-Swift has proactively reduced its tractor fleet to better align with demand, which helps improve asset utilization and profitability as market conditions improve. To this end, Knight-Swift announced (on March 16, 2026) that it has inked a deal with TRANSTEX, a cleantech leader in emission-reducing solutions for the transportation sector. Per the deal, TRANSTEX will be purchasing FleetAero assets from Knight-Swift. The capacity discipline is a major tailwind for this trucking company.

Additionally, Knight-Swift’s shareholder-friendly initiatives in the form of dividend payments and share buybacks make it a good investor choice. As a reflection of its shareholder-friendly instance, in 2022, 2023 and 2024, KNX paid dividends of $78.30 million, $91.14 million and $104.15 million, respectively. During 2025, KNX paid dividends of $117.44 million. Knight-Swift has raised its quarterly dividend annually for seven consecutive years for a 233% overall increase. Consistent and rising dividend paymentsmay encourage investors to stay invested, thus stemming price declines.

KNX Stock’s Price PerformanceShares of KNX stock have gained 46% so far this year, outperforming the transportation-truck industry’s 43.1% surge, as well as that of other industry players, Old Dominion Freight Line, Inc. (ODFL - Free Report) and Werner Enterprises, Inc. (WERN - Free Report) within the same time frame.

KNX Stock’s YTD Price Comparison Image Source: Zacks Investment Research

Impressive Valuation Picture for Knight-SwiftKnight-Swift looks cheap from a valuation standpoint. Considering the forward 12-month price-to-earnings ratio (P/E-F12M), KNX is trading at a discount compared to the industry.

The stock has a forward 12-month P/E-F12M of 27.92X compared with 33.74X for the industry over the past five years. These factors indicate that the stock’s valuation is attractive.

Knight-Swift P/E Ratio (Forward 12 Months) Vs. Industry Image Source: Zacks Investment Research

Time to Buy KNX StockIt is understood that KNX stock is currently attractively valued. Consistent shareholder-friendly initiatives boost investor confidence and positively impact the bottom line. Knight-Swift has raised its quarterly dividend annually for seven consecutive years for a 233% overall increase. Apart from being shareholder-friendly, Knight-Swift has been active on the acquisition front to strengthen its revenue stream, which is likely to drive growth and margin expansion. Knight-Swift has proactively reduced its tractor fleet to better align with demand, which helps improve asset utilization and profitability as market conditions improve.

We believe that the positives surrounding the stock (as highlighted throughout the write-up) outweigh the concerns regarding rising expenses related to salaries, wages, and benefits, equipment, maintenance, fuel, and other expenses and driver shortage issues. We, therefore, suggest investors add Knight-Swift stock to their portfolios for healthy returns. The company’s Zacks Rank #2 (Buy) further supports our thesis. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways U.S. equities remain resilient in 2026 despite Fed, yield, oil, geopolitical and trade policy risks.CACI has expected sales growth of 10.6% for fiscal 2027, supported by federal customer groups.GL and KNX are projected to grow sales 6.3% and 7.1% in 2026, backed by core business segments. U.S. equities have remained resilient so far this year, although performance has been highly uneven. After rebounding from early-period volatility, markets have pushed higher, backed by solid corporate earnings, AI-led optimism and a still-supportive economic backdrop. Offsetting these are broader geopolitical and macroeconomic concerns like the Federal Reserve’s hawkish stance, Treasury-yield swings, oil-price volatility, geopolitical risks, particularly tensions in the Middle East, and evolving trade policies.

Amid such an operating environment, the traditional way of selecting stocks is a good idea. Sales growth provides a more reliable view for evaluating stocks compared with earnings-focused metrics. In this regard, stocks like CACI International Inc. (CACI - Free Report) , Globe Life Inc. (GL - Free Report) and Knight-Swift Transportation Holdings Inc. (KNX - Free Report) are worth buying.

Sales growth is among the most reliable indicators of a company’s underlying business momentum. While earnings can be affected by cost structures, accounting items and other non-operating factors, revenues offer a clearer view of customer demand and the company’s ability to sell more products or services. Sustained sales growth may signal healthy end-market conditions, market-share gains, pricing power, successful product launches, or expansion into new geographies and customer segments.

Revenue growth can also provide a foundation for stronger profitability. As sales increase, companies may be able to spread fixed costs across a larger revenue base, improving operating leverage and supporting margin expansion over time. Yet, sales growth should not be assessed in isolation. It is most meaningful when viewed alongside industry trends, peer performance, pricing dynamics, customer mix and the broader macroeconomic environment.

The quality and durability of sales growth are equally important. Recurring revenues, repeat purchases, volume-driven gains and sustainable demand are generally more valuable than growth fueled by temporary factors. Companies that consistently deliver high-quality sales growth across market cycles are often better positioned to generate dependable cash flows, reinvest in the business, strengthen their competitive position and create long-term shareholder value.

Selecting the Potential Winning StocksTo shortlist stocks with impressive sales growth and a high cash balance, we have selected 5-Year Historical Sales Growth (%) greater than X-Industry and Cash Flow of more than $500 million as our main screening parameters.

But sales growth and cash strength are not the absolute criteria for selecting stocks. Hence, we have added other factors to arrive at a winning strategy.

P/S Ratio less than X-Industry: This metric determines the value placed on each dollar of a company’s revenues. The lower the ratio, the better it is for picking a stock since the investor is paying less for each unit of sales.

% Change F1 Sales Estimate Revisions (four weeks) greater than X-Industry: Estimate revisions, better than the industry, are often seen to trigger an increase in stock price.

Operating Margin (average last five years) greater than 5%: The operating margin measures how much every dollar of a company's sales translates into profits. A high ratio indicates that the company has good cost control and sales are increasing faster than costs — an optimal situation.

Return on Equity (ROE) greater than 5%: This metric will ensure that sales growth is translated into profits and the company is not hoarding cash. A high ROE means that the company is spending wisely and is, in all likelihood, profitable.

Zacks Rank less than or equal to 2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform, irrespective of the market environment. You can see the complete list of today’s Zacks #1 Rank stocks here.

3 Stocks With Solid Sales Growth to Invest InBased in Reston, VA, CACI International delivers IT applications and infrastructure to improve communications and secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. CACI earns its revenues through four customer groups: Department of Defense, Intelligence Community, Federal Civilian Agencies and Commercial and Other.

CACI’s expected sales growth rate for fiscal 2027 is 10.6%. CACI International carries a Zacks Rank #2 at present.

Based in McKinney, TX, Globe Life is an insurance holding company for a group of insurance companies that market primarily individual life and supplemental health insurance to lower-middle to middle-income households throughout the United States. GL’s business is organized into four segments: Life Insurance, Supplemental Health Insurance, Annuities and Investments.

Globe Life's expected sales growth rate for 2026 is 6.3%. GL currently carries a Zacks Rank #2.

Phoenix, AZ-based Knight-Swift Transportation is one of North America's largest and most diversified freight transportation companies, providing multiple full truckload, LTL, intermodal and other complementary services. KNX utilizes a nationwide network of business units and terminals across the United States and Mexico to serve customers throughout North America.

KNX’s sales are expected to rise 7.1% in 2026. Knight-Swift Transportation carries a Zacks Rank #2 at present.

Investors with an interest in Transportation - Truck stocks have likely encountered both Knight-Swift Transportation Holdings (KNX) and Saia (SAIA). But which of these two stocks presents investors with the better value opportunity right now?

Knight-Swift Transportation Holdings (KNX) came out with quarterly earnings of $0.09 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.28 per share a year ago.

Knight-Swift Transportation Holdings Inc. (KNX) Q1 2026 Earnings Call Transcript

PHOENIX--(BUSINESS WIRE)--Knight-Swift Transportation Holdings Inc. (NYSE:KNX) (the “Company” or “Knight-Swift”), one of North America's largest and most diversified freight transportation companies, announced today that it intends to offer, subject to market conditions and other factors, $1.0 billion aggregate principal amount of Convertible Senior Notes due 2031 (the “notes”) in a private placement (the “offering”) only to persons reasonably believed to be “qualified institutional buyers” pur.

Knight-Swift Transportation Holdings remains a buy as pricing has moved decisively higher and the cycle has turned upward. Q1 2026 results were weak on the surface, but underlying metrics—improving TL utilization and LTL freight mix—signal stronger operational positioning. Management raised truckload bid targets to high-single-digit to low-double-digit increases, reflecting a materially improved pricing environment.

PHOENIX--(BUSINESS WIRE)--Knight-Swift Transportation Holdings Inc. (NYSE: KNX) (the "Company" or "Knight-Swift") announced today that its board of directors ("the Board") has declared the Company's quarterly cash dividend of $0.20 per share of common stock. The Company's quarterly dividends are pursuant to a cash dividend policy approved by the Board. The actual declaration of future cash dividends, and the establishment of record and payment dates, is subject to final determination by the Boa.

Knight-Swift is rated Hold despite a credible long-term LTL strategy and freight market recovery, as the current valuation fully prices in the recovery. Q1'26 results were heavily impacted by non-recurring items, but management guides for a sharp Q2 earnings rebound with adjusted EPS of $0.45–$0.49. The LTL segment buildout, leveraging Yellow terminal assets, is a multi-year value driver but still carries execution and legacy liability risks.

Knight-Swift (KNX) reported earnings 30 days ago. What's next for the stock?

Does Knight-Swift Transportation Holdings (KNX) have what it takes to be a top stock pick for momentum investors? Let's find out.

PHOENIX--(BUSINESS WIRE)--Knight-Swift Transportation Holdings Inc. (NYSE: KNX) (the "Company" or "Knight-Swift") announced today that Kevin P. Knight, one of the founders of Knight Transportation, former Chief Executive Officer from 1994 to 2014 and Executive Chairman of the board of directors, is retiring from the Company. This milestone follows a long and distinguished career including consequential leadership roles at each of Swift Transportation and Knight Transportation, and later at Knig.

With KNX shares moving north, we assess the current positioning of the stock to determine if it's a good investment at this juncture.