Trucking firms tumble after JB Hunt, Knight-Swift signal longer road to recovery [Reuters]
Knight-Swift Transportation Holdings Inc. (KNX)
Last knight-swift transportation holdings inc. earnings: 4/22 09:00 am
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investor.knighttrans.com
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Source: Reuters
, opens new tab and Knight-Swift Transportation Holdings (KNX.N) New Tab , opens new tab signaled a longer wait for a rebound in the freight industry. Freight companies have been grappling with reduced transport volumes on account of a shift in consumer spending from goods to services, combined with global shipping delays. In what TD Cowen analysts called an "ominous start for transport earnings", JB Hunt missed first-quarter estimates on Tuesday as it struggled with weak demand for intermodal services — its biggest segment. Knight-Swift trimmed its profit forecasts for the first and second quarters earlier on Wednesday, blaming an oversupply of capacity in the trucking industry, disruption from frigid weather in January and increased pressure on freight rates with shippers trying to push down prices further. Report this ad "The bottom has become longer and deeper than feared ... even with an inflection in either demand or supply in the coming months, ongoing weakness ...
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KNX
News
- Knight-Swift (KNX) Q1 Earnings & Revenues Miss Estimates [Yahoo! Finance]Yahoo! Finance
- Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Knight-Swift Transportation Holdings Inc. (NYSE: KNX) was downgraded by analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating. They now have a $47.00 price target on the stock, down previously from $53.00.MarketBeat
- Knight-Swift Transportation Holdings First Quarter 2024 Earnings: US$0.016 loss per share (vs US$0.65 profit in 1Q 2023) [Yahoo! Finance]Yahoo! Finance
- Knight-Swift Transportation Holdings Inc. (NYSE: KNX) had its price target lowered by analysts at Evercore ISI from $60.00 to $55.00. They now have an "in-line" rating on the stock.MarketBeat
KNX
Earnings
- 4/24/24 - Miss
KNX
Sec Filings
- 4/24/24 - Form 8-K
- 4/17/24 - Form 8-K
- 4/8/24 - Form PX14A6G
- KNX's page on the SEC website