Knight-Swift Transportation Holdings (KNX) Stock

The high expenses for driver salaries, equipment, maintenance, fuel, and other costs are not a good sign for KNX.

Knight-Swift (KNX) shared its earnings report 30 days ago. What can we expect for the stock moving forward?

I have lowered my rating for Knight-Swift Transportation Holdings from buy to hold because of challenging economic conditions and disappointing performance in the third quarter of 2024. The company's revenue dropped by 7.1% compared to last year, with trucking revenue down 7.6% and logistics revenue down 10%, suggesting that a quick recovery is not expected. The current forward price-to-earnings ratio of 26 is quite high, showing market optimism, but any negative economic news could greatly affect the stock price.

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) will hold its Q3 2024 Earnings Conference Call on October 23, 2024, at 5:30 PM ET. The call will feature company representatives including Brad Stewart, Adam Miller, and Andrew Hess, along with participants from various financial institutions. The operator for the call is Chloe, who will assist throughout the session.

The financial results for Knight-Swift (KNX) from the quarter ending in September 2024 provide insight into the company's performance. It may be helpful to compare some important metrics with Wall Street predictions and figures from the same period last year.

Knight-Swift Transportation Holdings (KNX) reported quarterly earnings of $0.34 per share, which is higher than the Zacks Consensus Estimate of $0.33 per share. This is a decrease compared to earnings of $0.41 per share from the same period last year.

To better understand how Knight-Swift (KNX) might perform in the quarter ending September 2024, look beyond Wall Street's basic profit and loss predictions. Instead, focus on the estimates for some of its important metrics. This will give you a clearer picture of the company's potential performance.

CleanCore Solutions, Inc. has started to introduce its products at Knight-Swift Transportation Holdings Inc. facilities, aiming to create a long-term revenue stream through a leasing and service agreement. The implementation of CleanCore's eco-friendly products, such as Fill Stations and Commercial Laundry units, is expected to enhance sustainability at key locations. This initiative will help Knight-Swift adopt more efficient and environmentally friendly cleaning methods.

Knight-Swift (KNX) lacks the necessary elements that could lead to a strong earnings report in the near future. Be ready for the main expectations.