UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________________________________________________________________________________________________ FORM 10-Q _________________________________________________________________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended S ...

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Q3 2023 Earnings Call Transcript October 19, 2023 5:30 AM ET Company Participants Adam Miller - Chief Financial Officer and Treasurer David Jackson - President and Chief Executive Officer Conference Call Participants Ravi Shanker - Morgan Stanley Scott Group - Wolfe Research Jack Atkins - Stephens Tom Wadewitz - UBS Chris Wetherbee - Citigroup Ken Hoexter - Bank of America Bruce Chan - Stifel Jon Chappell - Evercore ISI Amit Mehrotra - Deutsche Bank Basco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________________________________________________________________________ Knight-Swift Transportation Holdings Inc. (Exact name of registrant as specified in its charter) ___________________________________________________________________________________________________________________ (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification ...

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Q2 2023 Earnings Conference Call July 20, 2023 4:30 PM ET Company Participants Adam Miller - Chief Financial Officer and Treasurer David Jackson - President and Chief Executive Officer Conference Call Participants Jack Atkins - Stephens Scott Group - Wolfe Research Ravi Shanker - Morgan Stanley Ben Mohr - Deutsche Bank Michael DiMattia - UBS Ken Hoexter - Bank of America Jason Seidl - TD Cowen Christian Wetherbee - Citi Operator Good afternoon. My name is ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________________________________________________________________________________________________ FORM 10-Q _________________________________________________________________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended M ...

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Q1 2023 Earnings Conference Call April 20, 2023 4:30 PM ET Company Participants David Jackson - President and CEO Adam Miller - CFO Conference Call Participants Tom Wadewitz - UBS Jack Atkins - Stephens Ravi Shanker - Morgan Stanley Ken Hoexter - Bank of America Jordan Alliger - Goldman Sachs Bascome Majors - Susquehanna Operator Good afternoon. My name is JP, and I'll be your conference operator today. At this time I would like to welcome everyone to the ...

KNX Q1 2023 Comparative Results 1 See GAAP to non-GAAP reconciliation in the schedules following this presentation 2 Excludes intersegment transactions 3 Includes 8,988 trailers related to leasing activities recorded within our non-reportable operating segments for the first quarter of 2023 | --- | --- | --- | --- | |-------|----------|----------|--------| | | Q1 2023 | Q1 2022 \n(Dollars in thousands) | Change | | Revenue xFSC | $213,929 | $214,675 | (0.3 %) | | Operating income | $26,582 | $26,377 | 0.8 % ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________________________________________________________________ FORM 10-K __________________________________________________________________________________________________________________________________________________________ (mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year en ...

Financial Data and Key Metrics Changes - In Q4 2022, the company generated revenue of $475.2 million, a decrease of 0.5% compared to Q3 2022 [26] - The total adjusted operating loss was $5.7 million, showing a sequential improvement of $15.8 million compared to Q3 [27] - Net debt at the end of Q4 was $481.9 million, up from $369.8 million at the end of 2021 [37] Business Line Data and Key Metrics Changes - Truckload revenue net of fuel was $397 million, a sequential decrease of approximately $5 million due to declining spot market rates [14] - The Brokerage segment generated revenue of $78 million, with performance remaining stable compared to Q3 [17] - The Dedicated division continued to perform strongly, resonating well with customers due to high service levels [16] Market Data and Key Metrics Changes - The company noted that many customers are still working through inventory destocking, impacting freight demand [12] - Spot rates continued to be at record discounts compared to contractual rates, with a gap of up to $1 per mile observed [28][55] - The company expects smaller carriers to exit the market, which may help improve rates as supply decreases [45][106] Company Strategy and Development Direction - The company executed a realignment plan in 2022, transitioning operations to focus on timely and cost-effective freight delivery [8] - For 2023, the company aims to add more contracted freight to its network and reduce spot market exposure [42] - The focus remains on managing expenses, deploying capital prudently, and reducing overall debt levels [42] Management's Comments on Operating Environment and Future Outlook - Management anticipates a soft market for at least the first half of 2023 due to high inventory levels and excess capacity [44] - There is confidence that operational improvements will position the company well for when the market turns [25][48] - The company expects to see improvements in utilization and profitability as the market conditions become more favorable [100][106] Other Important Information - The company plans to reduce net capital expenditures to less than $75 million in 2023, focusing on maintaining its current fleet [35] - Liquidity at the end of Q4 was $106.1 million, with expectations for improvement in 2023 due to lower capital expenditures and improved operating profitability [39][40] Q&A Session Summary Question: Spot versus cost of operations - Management acknowledged that the gap between spot and contracted rates has been significant, with a focus on selectively converting to contracts to improve results [55][56] Question: Spot versus contract mix - The company aims to reduce spot exposure to approximately 20% of the over-the-road division, indicating a methodical approach to securing contracts [81][82] Question: Utilization improvements - Management clarified that while total miles may have declined, improvements in utilization were noted in normal working weeks, driven by better driver management [86][88] Question: Profitability outlook - Management indicated that profitability for the Truckload business may take longer to achieve, contingent on improving market rates and reducing spot exposure [100][113]

Financial Performance (Q3 2022 vs Q3 2021) - Operating revenue increased from $491.14 million to $547.828 million[5] - Revenue, excluding fuel surcharge, increased from $451.824 million to $477.428 million[5] - Operating loss increased from $6.635 million to $22.74 million[5] - Net loss attributable to controlling interest increased from $5.478 million to $19.79 million[5] - Adjusted net loss attributable to controlling interest increased from a profit of $3.43 million to a loss of $19.63 million[5] - Truckload operating ratio increased from 98% to 105.6%[5] - Brokerage operating ratio decreased from 101.6% to 94.9%[5] - Overall operating ratio increased from 98.6% to 104.2%[5] Truckload Segment - Truckload revenue, net of fuel surcharge, increased 11.3%[15] - The company incurred $30.1 million in prior period claims and other costs[12] Brokerage Segment - Brokerage revenue declined 16.9% from $90.82 million to $75.487 million[17,33] - Load count decreased 33.6%[17] - Gross margin increased from 11.2% to 20.5%[33] Cost Reduction Initiatives - The company's Realignment Plan has identified $28 million in annualized cost reductions[38] - The company expects full year net capital expenditures of $150 million[45]