Freight delivery company Knight-Swift Transportation (NYSE: KNX) will be announcing earnings results this Wednesday afternoon. Here’s what investors should know.
Knight-Swift Transportation missed analysts’ revenue expectations last quarter, reporting revenues of $1.86 billion, flat year on year. It was a softer quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.
Is Knight-Swift Transportation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Knight-Swift Transportation’s revenue to grow 1.8% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Knight-Swift Transportation has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Knight-Swift Transportation’s peers in the transportation and logistics segment, only FedEx has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 8.3%. The stock price was unchanged following the results.
Read our full analysis of FedEx’s earnings results here.There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 11.6% on average over the last month. Knight-Swift Transportation is up 21.1% during the same time and is heading into earnings with an average analyst price target of $66.16 (compared to the current share price of $65.59).
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