Knight-Swift (KNX) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Knight-Swift Transportation Holdings reported a revenue of $1.86 billion for the quarter ended December 2025, reflecting a year-over-year decline of 0.4% and an EPS of $0.31 compared to $0.36 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $1.9 billion, resulting in a surprise of -2.16%, while the EPS also missed the consensus estimate by -14.29% [1] Financial Performance Metrics - The operating ratio was reported at 98.6%, significantly higher than the five-analyst average estimate of 95.4% [4] - The adjusted operating ratio was 94%, matching the average estimate by five analysts [4] - The adjusted operating ratio for the Truckload segment was 92.9%, slightly better than the 93% estimated by four analysts [4] - The adjusted operating ratio for the LTL segment was 95.1%, exceeding the average estimate of 94.6% by four analysts [4] Revenue Breakdown - Truckload and LTL fuel surcharge revenue was $190.31 million, below the average estimate of $195.63 million, but representing a year-over-year increase of +1.4% [4] - Revenue excluding truckload and LTL fuel surcharge was $1.67 billion, lower than the $1.7 billion estimated by five analysts, marking a -0.6% change year-over-year [4] - Operating revenue for the LTL segment was $344.75 million, compared to the average estimate of $365.64 million, showing a +7.2% change year-over-year [4] - Operating revenue for the Truckload segment was $1.22 billion, below the three-analyst average estimate of $1.25 billion, reflecting a -2.2% year-over-year change [4] - Operating revenue for the Intermodal segment was $95.66 million, compared to the average estimate of $100.57 million, indicating a -3.4% change year-over-year [4] - Revenue excluding fuel surcharge for the Truckload segment was $1.08 billion, lower than the average estimate of $1.11 billion, representing a -2.4% year-over-year change [4] - Operating revenue for the Logistics segment was $159.97 million, below the average estimate of $163.53 million, reflecting a -4.8% year-over-year change [4] - Revenue excluding fuel surcharge for the LTL segment was $298.5 million, compared to the average estimate of $307.84 million, showing a +7% change year-over-year [4] Stock Performance - Knight-Swift shares have returned +2.7% over the past month, contrasting with the Zacks S&P 500 composite's -0.4% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]