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Knight-Swift (KNX) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended March 2026, Knight-Swift Transportation Holdings (KNX - Free Report) reported revenue of $1.85 billion, up 1.4% over the same period last year. EPS came in at $0.09, compared to $0.28 in the year-ago quarter.

The reported revenue represents a surprise of -0.03% over the Zacks Consensus Estimate of $1.85 billion. With the consensus EPS estimate being $0.09, the EPS surprise was +5.88%.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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:
  • Adjusted Operating Ratio: 97% versus the five-analyst average estimate of 95%.
  • Operating Ratio: 98.5% versus the five-analyst average estimate of 96.5%.
  • Adjusted Operating Ratio - LTL: 99.6% versus the four-analyst average estimate of 95.7%.
  • Adjusted Operating Ratio - Logistics: 96.2% versus the four-analyst average estimate of 95.9%.
  • Truckload and LTL fuel surcharge: $212.19 million versus the five-analyst average estimate of $196.77 million. The reported number represents a year-over-year change of +10.9%.
  • Revenue, excluding truckload and LTL fuel surcharge: $1.64 billion compared to the $1.63 billion average estimate based on five analysts. The reported number represents a change of +0.3% year over year.
  • Operating revenue- LTL: $368.36 million versus the three-analyst average estimate of $372 million. The reported number represents a year-over-year change of +4.5%.
  • Revenue, excluding fuel surcharge and intersegment transactions- Truckload Segment: $1.05 billion versus the three-analyst average estimate of $1.03 billion. The reported number represents a year-over-year change of -0.3%.
  • Operating revenue- Truckload: $1.2 billion versus $1.19 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.8% change.
  • Revenue, excluding fuel surcharge- LTL Segment: $313.14 million compared to the $320.34 million average estimate based on three analysts. The reported number represents a change of +2.6% year over year.
  • Operating revenue- Logistics: $127.61 million versus $139.22 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -9.9% change.
  • Operating revenue- Intermodal: $93.59 million versus $92.73 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.7% change.

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

Shares of Knight-Swift have returned +17.9% over the past month versus the Zacks S&P 500 composite's +8.6% 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.

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