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Canadian Pacific Kansas City (NYSE:CP – Get Free Report) and Knight-Swift Transportation (NYSE:KNX – Get Free Report) are both large-cap industrials companies, but which is the better business? We will contrast the two businesses based on the strength of their profitability, dividends, institutional ownership, earnings, valuation, risk and analyst recommendations.

Profitability
This table compares Canadian Pacific Kansas City and Knight-Swift Transportation’s net margins, return on equity and return on assets.

Net Margins
Return on Equity
Return on Assets

Canadian Pacific Kansas City
25.02%
9.02%
4.86%

Knight-Swift Transportation
1.92%
4.72%
2.78%

Risk and Volatility
Canadian Pacific Kansas City has a beta of 1.13, meaning that its stock price is 13% more volatile than the S&P 500. Comparatively, Knight-Swift Transportation has a beta of 1.21, meaning that its stock price is 21% more volatile than the S&P 500.

Analyst Recommendations
This is a breakdown of current ratings and target prices for Canadian Pacific Kansas City and Knight-Swift Transportation, as provided by MarketBeat.

Sell Ratings
Hold Ratings
Buy Ratings
Strong Buy Ratings
Rating Score

Canadian Pacific Kansas City
0
3
12
2
2.94

Knight-Swift Transportation
0
3
15
2
2.95

Canadian Pacific Kansas City currently has a consensus target price of $111.83, indicating a potential upside of 23.30%. Knight-Swift Transportation has a consensus target price of $82.78, indicating a potential upside of 32.36%. Given Knight-Swift Transportation’s stronger consensus rating and higher possible upside, analysts plainly believe Knight-Swift Transportation is more favorable than Canadian Pacific Kansas City.

Insider & Institutional Ownership
72.2% of Canadian Pacific Kansas City shares are owned by institutional investors. Comparatively, 88.8% of Knight-Swift Transportation shares are owned by institutional investors. 0.0% of Canadian Pacific Kansas City shares are owned by insiders. Comparatively, 2.9% of Knight-Swift Transportation shares are owned by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a company is poised for long-term growth.

Valuation and Earnings
This table compares Canadian Pacific Kansas City and Knight-Swift Transportation”s revenue, earnings per share (EPS) and valuation.

Gross Revenue
Price/Sales Ratio
Net Income
Earnings Per Share
Price/Earnings Ratio

Canadian Pacific Kansas City
$10.79 billion
7.36
$2.96 billion
$3.11
29.16

Knight-Swift Transportation
$7.47 billion
1.36
$65.95 million
$0.26
240.53

Canadian Pacific Kansas City has higher revenue and earnings than Knight-Swift Transportation. Canadian Pacific Kansas City is trading at a lower price-to-earnings ratio than Knight-Swift Transportation, indicating that it is currently the more affordable of the two stocks.

Dividends
Canadian Pacific Kansas City pays an annual dividend of $0.77 per share and has a dividend yield of 0.8%. Knight-Swift Transportation pays an annual dividend of $0.80 per share and has a dividend yield of 1.3%. Canadian Pacific Kansas City pays out 24.8% of its earnings in the form of a dividend. Knight-Swift Transportation pays out 307.7% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Knight-Swift Transportation has increased its dividend for 6 consecutive years. Knight-Swift Transportation is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

Summary
Knight-Swift Transportation beats Canadian Pacific Kansas City on 9 of the 17 factors compared between the two stocks.

(Get Free Report)

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers. It also provides rail and intermodal transportation services over a network of approximately 20,000 miles serving business centres. The company was formerly known as Canadian Pacific Railway Limited and changed its name to Canadian Pacific Kansas City Limited in April 2023. Canadian Pacific Kansas City Limited was incorporated in 1881 and is headquartered in Calgary, Canada.

About Knight-Swift Transportation
(Get Free Report)

Knight-Swift Transportation Holdings Inc., together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations. This segment operated an average of 20,948 tractors, which comprised 18,821 company tractors and 2,127 independent contractor tractors, as well as 87,865 trailers. The LTL segment provides regional LTL transportation services through a network of approximately 120 service centers; and offers national coverage through partner carrier outside the network. This segment operated an average of 3,201 tractors and 8,482 trailers. The Logistic segment offers brokerage and other freight management services through third-party transportation providers and equipment. The Intermodal segment offers transportation services, including freight through third-party intermodal rail services on trailing equipment, such as containers and trailers on flat cars; and drayage services. This segment operated an average of 639 tractors and 12,730 intermodal containers. The company also provides repair and maintenance shop, equipment leasing, warranty, and insurance services; and warehousing and driving academy services, as well as manufactures trailer parts. It serves retail, food and beverage, consumer and paper products, transportation and logistics, housing, and building, automotive, and manufacturing industries. Knight-Swift Transportation Holdings Inc. was incorporated in 1989 and is headquartered in Phoenix, Arizona.

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Stock to Watch: Knight-Swift Transportation Holdings (KNX - Free Report) Knight-Swift Transportation Holdings Inc. is one of North America's largest and most diversified freight transportation companies, providing multiple full truckload, LTL, intermodal and other complementary services. Knight-Swift utilizes a nationwide network of business units and terminals across the United States and Mexico to serve customers throughout North America. Apart from operating one of the country's largest truckload fleets, Knight-Swift also contracts with third-party carriers to provide a broad range of transportation services to customers while providing quality driving jobs for driving associates and successful business opportunities for independent contractors. The company is based in Phoenix, AZ.

KNX is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 27.66; value investors should take notice.

For fiscal 2026, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $2.29 per share. KNX boasts an average earnings surprise of +6.3%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, KNX should be on investors' short list.

For the quarter ended September 2026, Knight-Swift Transportation Holdings (KNX - Free Report) reported revenue of $2.2 billion, up 14.2% over the same period last year. EPS came in at $0.83, compared to $0.32 in the year-ago quarter.

The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $2.14 billion. With the consensus EPS estimate being $0.75, the EPS surprise was +10.67%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Knight-Swift performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Operating Ratio: 91.9% versus 92.3% estimated by five analysts on average.Adjusted Operating Ratio: 89.3% compared to the 91.2% average estimate based on five analysts.Adjusted Operating Ratio - Truckload: 89.2% versus 92.7% estimated by four analysts on average.Adjusted Operating Ratio - LTL: 91.4% versus 91.3% estimated by four analysts on average.Revenue, excluding truckload and LTL fuel surcharge: $1.85 billion compared to the $1.81 billion average estimate based on five analysts. The reported number represents a change of +7.7% year over year.Truckload and LTL fuel surcharge: $348.1 million versus the five-analyst average estimate of $331.85 million. The reported number represents a year-over-year change of +68.8%.Operating revenue- LTL: $434.52 million versus the three-analyst average estimate of $433.55 million. The reported number represents a year-over-year change of +10.1%.Revenue, excluding fuel surcharge and intersegment transactions- Truckload Segment: $1.15 billion versus the three-analyst average estimate of $1.14 billion. The reported number represents a year-over-year change of +6.5%.Operating revenue- Logistics: $138.97 million compared to the $145 million average estimate based on three analysts. The reported number represents a change of -1% year over year.Revenue, excluding fuel surcharge- LTL Segment: $341.7 million compared to the $347.63 million average estimate based on three analysts. The reported number represents a change of +0.4% year over year.Operating revenue- Intermodal: $122.88 million versus the three-analyst average estimate of $116.92 million. The reported number represents a year-over-year change of +30.6%.Operating revenue- Truckload: $1.41 billion versus the three-analyst average estimate of $1.38 billion. The reported number represents a year-over-year change of +14%.View all Key Company Metrics for Knight-Swift here>>>

Shares of Knight-Swift have returned -5.7% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Knight-Swift Transportation NYSE: KNX reported higher third-quarter earnings and revenue as pricing, network efficiency and logistics margin recovery supported results across its asset-based businesses. Management said the company is seeing strengthening conditions in the one-way truckload market, while its fourth-quarter outlook calls for further truckload improvement offset by typical seasonal declines in other operations.

The upcoming report from Knight-Swift Transportation Holdings (KNX - Free Report) is expected to reveal quarterly earnings of $0.75 per share, indicating an increase of 134.4% compared to the year-ago period. Analysts forecast revenues of $2.14 billion, representing an increase of 11% year over year.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

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' assessment points toward 'Revenue, excluding truckload and LTL fuel surcharge' reaching $1.81 billion. The estimate suggests a change of +5.4% year over year.

Analysts expect 'Truckload and LTL fuel surcharge' to come in at $331.85 million. The estimate indicates a year-over-year change of +61%.

The consensus among analysts is that 'Operating revenue- LTL' will reach $433.55 million. The estimate indicates a change of +9.9% from the prior-year quarter.

The consensus estimate for 'Revenue, excluding fuel surcharge and intersegment transactions- Truckload Segment' stands at $1.14 billion. The estimate indicates a change of +5.5% from the prior-year quarter.

The combined assessment of analysts suggests that 'Operating Ratio' will likely reach 92.3%. The estimate is in contrast to the year-ago figure of 97.4%.

It is projected by analysts that the 'Adjusted Operating Ratio' will reach 91.2%. The estimate is in contrast to the year-ago figure of 93.8%.

The average prediction of analysts places 'Adjusted Operating Ratio - Truckload' at 92.7%. Compared to the current estimate, the company reported 96.2% in the same quarter of the previous year.

Analysts predict that the 'Adjusted Operating Ratio - LTL' will reach 91.3%. The estimate is in contrast to the year-ago figure of 90.6%.

Based on the collective assessment of analysts, 'Adjusted Operating Ratio - Logistics' should arrive at 95.9%. Compared to the present estimate, the company reported 94.3% in the same quarter last year.

Analysts forecast 'Average tractors - Truckload' to reach 20,750 . The estimate is in contrast to the year-ago figure of 21,319 .

According to the collective judgment of analysts, 'Load count - Intermodal' should come in at 39,731 . The estimate compares to the year-ago value of 35,375 .

The collective assessment of analysts points to an estimated 'Average revenue per load - Intermodal' of $2962.84 . The estimate compares to the year-ago value of $2660.00 .

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

Shares of Knight-Swift have experienced a change of -5.1% in the past month compared to the +0.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), KNX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Knight-Swift Transportation Holdings (KNX - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on October 21, might help the stock move higher if these key numbers are better than expectations. 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 $0.75 per share in its upcoming report, which represents a year-over-year change of +134.4%.

Revenues are expected to be $2.12 billion, up 10.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.02% lower 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. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

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 +1.31%.

On the other hand, the stock currently carries a Zacks Rank of #3.

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 $0.49 per share when it actually produced earnings of $0.63, delivering a surprise of +28.57%.

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.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in KNX over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

A month has gone by since the last earnings report for Knight-Swift Transportation Holdings (KNX - Free Report) . Shares have lost about 4% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Knight-Swift due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.

Knight-Swift Q2 Earnings Beat EstimatesKnight-Swift reported second-quarter 2026 adjusted earnings of 63 cents per share, which 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 Improves

Revenue 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 Recovery

Less-than-truckload 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 Diverge

Logistics 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 Charges

All 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 compared with 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 Spending

Knight-Swift ended June with $186.11 million in cash and cash equivalents. Year-to-date 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 remain projected at $600-$650 million.

KNX’s Q3 Outlook Points Higher

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

LTL revenue, excluding fuel surcharge, is 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 revenue is projected to increase by a low-single-digit percentage from the second quarter.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.

The consensus estimate has shifted 8.2% due to these changes.

VGM ScoresAt this time, Knight-Swift has a great Growth Score of A, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the top 40% for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Knight-Swift has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

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.

Posted by Defense World Staff on Aug 4th, 2026

California State Teachers Retirement System raised its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 24.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 192,598 shares of the transportation company’s stock after purchasing an additional 38,300 shares during the quarter. California State Teachers Retirement System owned 0.12% of Knight-Swift Transportation worth $11,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Encompass Capital Advisors LLC bought a new stake in shares of Knight-Swift Transportation during the 1st quarter worth $28,790,000. Maverick Capital Ltd. bought a new position in Knight-Swift Transportation in the first quarter valued at about $611,000. Quantinno Capital Management LP grew its position in Knight-Swift Transportation by 10.5% in the first quarter. Quantinno Capital Management LP now owns 312,284 shares of the transportation company’s stock valued at $17,981,000 after acquiring an additional 29,746 shares during the last quarter. SummitTX Capital L.P. acquired a new position in Knight-Swift Transportation during the first quarter worth about $7,104,000. Finally, Castleark Management LLC bought a new position in shares of Knight-Swift Transportation in the first quarter worth about $7,257,000. Institutional investors own 88.77% of the company’s stock.

Analyst Ratings Changes Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Raymond James Financial increased their price objective on shares of Knight-Swift Transportation from $76.00 to $91.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 2nd. UBS Group raised their target price on shares of Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, July 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Knight-Swift Transportation in a report on Monday, July 13th. Three 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $84.44.

Check Out Our Latest Report on Knight-Swift Transportation

Insider Transactions at Knight-Swift Transportation In other news, Director Reid Dove sold 50,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $70.25, for a total value of $3,512,500.00. Following the completion of the sale, the director owned 169,154 shares of the company’s stock, valued at approximately $11,883,068.50. This represents a 22.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Cary M. Flanagan sold 3,600 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $70.82, for a total value of $254,952.00. Following the transaction, the chief accounting officer owned 5,405 shares of the company’s stock, valued at $382,782.10. This trade represents a 39.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company’s stock.

Knight-Swift Transportation Trading Down 1.7% Shares of NYSE KNX opened at $68.34 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. Knight-Swift Transportation Holdings Inc. has a 52-week low of $38.63 and a 52-week high of $82.86. The firm has a 50 day moving average price of $75.61 and a two-hundred day moving average price of $65.62. The stock has a market cap of $11.11 billion, a P/E ratio of 262.87, a price-to-earnings-growth ratio of 0.59 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.12. Knight-Swift Transportation had a net margin of 0.56% and a return on equity of 3.51%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Knight-Swift Transportation has set its Q3 2026 guidance at 0.710-0.770 EPS. As a group, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.42 EPS for the current year.

Knight-Swift Transportation Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders 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 1.2%. The ex-dividend date was Monday, June 8th. Knight-Swift Transportation’s payout ratio is 307.69%.

About Knight-Swift Transportation (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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Investors looking for stocks in the Transportation - Truck sector might want to consider either Knight-Swift Transportation Holdings (KNX) or Old Dominion Freight Line (ODFL). But which of these two stocks presents investors with the better value opportunity right now?

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.

Recommended Stories Five stocks we like better than Knight-Swift Transportation Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding KNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report).

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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