New York, New York--(Newsfile Corp. - May 6, 2020) - Levi & Korsinsky announces it has commenced an investigation of Knight-Swift Transportation Holdings Inc. (NYSE: KNX) concerning possible breaches of fiduciary duty. To obtain additional information, go to:https://www.zlk.com/compensation2/knight-swift-transportation-holdings-inc-loss-formor contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.Levi & Korsinsky is a nationally recognized firm with offices in New ...
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) announced today that its Board of Directors has declared the company’s quarterly cash dividend of $0.08 per share of common stock. The company's quarterly dividends are pursuant to a cash dividend policy approved by the Board of Directors. The actual declaration of future cash dividends, and the establishment of record and payment dates, is subject to final determination by the Board of Directors each quarter after its review of the company’s financial performance.
Knight-Swift Transportation Holdings (NYSE:KNX) has had a great run on the share market with its stock up by a...
Knight-Swift (KNX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Knight-Swift (KNX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Another Valley public company has unveiled salary cuts for top executives in the wake of the coronavirus.
Knight-Swift (KNX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The $800 billion trucking industry scrambles to keep supply chains moving as coronavirus triggers skyrocketing demand for necessities.
Shares of Knight-Swift (NYSE:KNX) rose more than 2% after the company reported upbeat Q1 results.Quarterly Results Earnings per share fell 20.00% year over year to $0.44, which beat the estimate of $0.35.Revenue of $1,125,000,000 less by 6.64% from the same period last year, which beat the estimate of $1,090,000,000.Guidance Knight-Swift suspended its FY20 guidance. How To Listen To The Conference Call Date: Apr 22, 2020Time: 05:05 AM ETView more earnings on KNXWebcast URL: https://investor.knight-swift.com/eventsPrice Action 52-week high: $40.4652-week low: $27.03Price action over last quarter: down 7.47%Company Overview Knight-Swift Transportation is by far the largest asset-based full-truckload carrier in the United States. About 80% of revenue derives from asset-based truckload shipping operations (including for-hire dry van, refrigerated, dedicated contract). The remainder stems from highway brokerage and other asset-light logistics services (11%), as well as rail intermodal (9%), which uses the Class-I railroads for the underlying movement of the firm's shipping containers.See more from Benzinga * Quest Diagnostics: Q1 Earnings Insights * Teledyne Technologies: Q1 Earnings Insights * Recap: Wolverine World Wide Q1 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Weakness in the freight environment amid COVID-19 pandemic hurts Knight-Swift's (KNX) first-quarter 2020 results
Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) expects to release its 2020 first quarter earnings on Wednesday, April 22, 2020 prior to the market open by filing a Form 8-K with the SEC. The earnings release will be available on the Company’s website http://investor.knight-swift.com/events and the Form 8-K will be available on the SEC website http://www.sec.gov.
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
Heading into April, the United States braces itself for another month of battling COVID-19. The pandemic, which has disrupted commerce and trade around the world, presents unique challenges for the transportation industry as it juggles to keep America's stores stocked while maneuvering around the invisible threat.As the nation's largest full truckload company, Knight-Swift Transportation Holdings, Inc. (NYSE: KNX) has monitored the COVID-19 outbreak closely and has taken steps to ensure its employees are protected and its operations run smoothly.FreightWaves CEO Craig Fuller discussed the motor carrier's response to the coronavirus outbreak via teleconference with Knight-Swift President and CEO David Jackson on the FreightWavesTV show, "Fuller Speed Ahead."Jackson said that Knight-Swift has prepared for times of economic disruptions. For instance, each of the company's terminals has decentralized operations that allow its staff to work remotely if necessary. He said the contingency plan was created mainly for inclement weather such as hurricanes, but has since proved to be the perfect solution for this unprecedented pandemic.Although Jackson said that the transportation sector hasn't felt the negative effects that other businesses have, he noted that only carriers that are well-capitalized and can endure the bottom of the "U curve" will fare well during the outbreak.Jackson explained that Knight-Swift is pleased to see spikes in demand for consumer goods as the majority of its truckloads consist of consumer staples. The flexibility of the carrier's irregular route line-haul business has also proved to be of benefit for Knight-Swift as it finds new ways to navigate the ever-changing market."Our recruiting classes are still pretty decent and we're continuing to recruit drivers and put them into trucks this week," Jackson said. "It's very encouraging; maybe it's a sign that there are so many that don't have those opportunities and are attracted to the fact that we provide gainful employment right away."He continued, "As long as we can stock communities with products, it keeps the panic down and helps those who are most in need.The COVID-19 pandemic that continues to roadblock most industries in the United States has presented drivers with unique opportunities as consumers anxiously await the arrival of each truckload.Medical professionals and truck drivers have emerged as heroes of the coronavirus outbreak as their services carry the nation through these tough times."I have never seen the level of respect for drivers and well-deserved credit that many of them are receiving reach this high," said Jackson.Jackson expressed gratitude for the resilience that Knight-Swift's drivers have shown. In response, the company has offered its drivers the opportunity to earn bonuses up to around $1,000 per month. Knight-Swift has additionally allocated around $1 million in food provisions to 17 of its terminals for the benefit of its drivers.Jackson also acknowledged the kind actions from some of Knight-Swift's customers who've served its drivers meals upon arrival at their facilities."We're grateful for the cooperation and the collaboration from our customers and the respect that everybody seems to be giving our drivers," Jackson said.To combat the spread of the coronavirus, most of Knight-Swift's employees are working from home, according to Jackson, and the company has implemented extensive sanitation policies at its maintenance facilities to protect both its mechanics and drivers from contracting the illness. Each vehicle is sterilized with anti-bacterial wipes and air disinfectant devices upon each maintenance visit.Jackson said that Knight-Swift still recommends its drivers to use the restrooms and showers at its facilities, but advises against congregating in large groups during rest periods.Tackling the coronavirus has required a company-wide effort for Knight-Swift, but Jackson believes the motor carrier has taken the proper steps to adjust as America braces for another month of quarantine."The business continues to work and we're adjusting to this new way of talking to people via our computers and working with our drivers one-on-one," Jackson said.See more from Benzinga * Trucking Stocks Are Doing About As Miserable As The Broader Stock Market * Uncertainty Hangs Over Trucking Markets * Sell-Off's Impact On Truckers: Diesel Is Way Down; So Are Trucking Stocks(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The nation's largest truckload (TL) carrier, Knight-Swift Transportation Holdings Inc. (NYSE: KNX) reported first quarter 2020 earnings per share (EPS) of $0.44, well ahead of analysts' expectations of $0.35.The Phoenix-based carrier recorded $2.3 million, or $0.01 per share, in "incremental expenses associated with our drivers and terminal employees to ensure safety and that communities received essential products." A similar amount is expected to be incurred during the second quarter. Knight-Swift Consolidated FinancialsGiven the "uncertainties regarding the duration and impact of the COVID-19 pandemic," the carrier pulled its 2020 full-year adjusted earnings guidance, which had called for EPS of $2.00 to $2.15.Truckload The TL segment reported a 5.1% year-over-year decline in revenue excluding fuel surcharges to $821 million. The decline was the result of operating 472 fewer tractors in the quarter compared to the first quarter of 2019, which was partially offset by a slight increase in miles per tractor. Revenue per tractor was 2.7% lower as revenue per loaded mile declined 3.1%. The TL adjusted operating ratio (OR) improved 20 basis points year-over-year to 86.5% as cost control initiatives resulted in a 3.2% reduction in operating expenses on a per mile basis. TL Key Performance IndicatorsFrom the press release, "Our diverse customer base has permitted us to balance our truckload capacity between customers with significant declines in volumes and those experiencing surges in demand for essential consumer products."The division reported lower gains on equipment sales, down $8.8 million year-over-year or $0.04 in EPS, due to a "weaker used equipment market." Gains on the sale from the trade of tractors and trailers is booked as an offset to operating expenses, lowering expenses considerably for larger carriers.Prices for used trucks have fallen significantly after record purchasing of new tractors through and after the freight peak of 2018. As post-peak volumes fell off significantly and excess capacity pushed TL rates lower, the demand for new equipment fell, negatively impacting the trade-in values for older equipment. Further, difficulty accessing credit and higher insurance claims and expenses have weighed on equipment demand.View more earnings on KNX 3 Year Old Used Truck Price Index (USA) – SONAR: UT3.USALogistics and Intermodal Revenue in the logistics segment, primarily brokerage, declined 12% year-over-year to $77 million as brokered loads declined 6.5% and revenue per load was down 3.8%. Many truck brokerage operations saw a margin squeeze in the quarter as COVID-19-related shelter-in-place restrictions resulted in panic buying as consumers rushed to stock up on household necessities. Truck capacity tightened and the cost of purchased transportation increased meaningfully. Knight-Swift reported a 310-basis point decline in brokerage gross margin to 14.7% in the quarter. Logistics and Intermodal Key Performance IndicatorsIntermodal revenue declined 18.2% year-over-year to $95 million as loads declined 13.2% and revenue per load dipped 5.8%. Demand for intermodal remains subdued as diesel fuel prices have declined and ample TL capacity is available in the market. Total U.S. intermodal traffic on the railroads was 9% lower year-over-year in the first quarter according to the Association of American Railroads. Knight-Swift's adjusted intermodal OR was 102.8% in the period, 480 basis points worse than the year ago quarter.The carrier ended the quarter with $621.7 million in available liquidity and net debt of $787.9 million. The company generated $155.3 million in cash flow from operations, which was diminished by a $93.4 million cash settlement related to the classification of independent contractors.Knight-Swift lowered its full-year 2020 net capital expenditures (capex) guidance to $510 million to $540 million (formerly it was $550 million to $575 million), providing it with another $35 million to $40 million in liquidity."We do not foresee material liquidity constraints or any issues with our ongoing ability to meet our debt covenants."The company raised its quarterly cash dividend to $0.08 per share, from $0.06 per share, in February. The company does not plan to change or suspend its dividend. "We believe we are well-prepared for the sustainability of our business from a balance sheet perspective with a very conservative debt balance and a meaningful level of available liquidity, coupled with a conservative, cost-minded culture."See more from Benzinga * Today's Pickup: Ware2Go Providing Free Logistics Support To PPE Relief Effort * Market Visibility For The Always Responders * Driving Schools Seek DOT Authority For CDL Testing(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
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Knight-Swift Transportation Holdings Inc. (NYSE:KNX), North America’s largest truckload transportation company, has issued its earnings release for the first quarter ended March 31, 2020. The release is currently available on Knight-Swift's investor relations website: http://investor.knight-swift.com/events and will be filed with the SEC on a Form 8-K.
Knight Transportation, Swift Transportation, Barr-Nunn and Abilene Motor Express (KNX) announced updates to safety guidelines for curbing the spread of coronavirus (COVID-19), maintaining driver safety, and delivering critical supplies to store shelves. The company is operating as an Essential Business outlined under Homeland Security Act of 2020 and assisting with functions critical to public health and safety.