Knight-Swift Transportation Holdings Inc. · KNX · FY2025 Q1 · Calendar Q2 2025

Cost controls improved earnings, but freight visibility remains cautious

Knight-Swift’s earnings trajectory is being supported by cost control, LTL expansion, and fleet-efficiency efforts, but the lower near-term guidance and missing Q3 outlook make demand recovery and rate improvement unproven.

Reported Before market openNYSEIndustrials $9.96B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $0.30
EPS surprise — Reported versus consensus
Reported revenue — Consensus $1.82B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +1.4% Event window
SPY move +1.5% Same window
Abnormal move -0.1% Stock minus SPY
Volume 2.0× Versus trailing sessions
Subsequent drift +10.2% Up to 20 sessions
KNXSPY benchmark

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Transcript intelligence

What changed

The current quarter shifted the emphasis from the prior quarter’s confident recovery plan to a more cautious operating stance: truckload volumes remained pressured, Q2 guidance was lowered, and Q3 guidance was withheld, while LTL expansion, DHE integration, and fleet right-sizing continued.

Guidance delta

Q2 EPS guidance was lowered to $0.30-$0.38, and Q3 guidance was omitted because of macro uncertainty.

Key takeaways

  • Adjusted operating income improved sharply despite limited revenue growth, reflecting sustained cost discipline.
  • LTL growth and DHE integration were key supports, while truckload volumes remained pressured.
  • Management is balancing network expansion and fleet right-sizing against tariff and demand uncertainty.

Management priorities

  • Continue right-sizing the tractor and trailer fleet while preserving flexibility.
  • Expand and integrate the LTL network, including new facilities and DHE operations.
  • Invest in technology, safety, claims management, and productivity improvements.

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Earnings History

Estimate Beat Miss Match
KNX EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $0.27 Q2 '24 actual $0.24, miss Q3 '24 estimate $0.33 Q3 '24 actual $0.34, match Q2 '25 estimate $0.34 Q2 '25 actual $0.35, match Q3 '25 estimate $0.37 Q3 '25 actual $0.32, miss Q4 '25 estimate $0.36 Q4 '25 actual $0.31, miss Q1 '26 estimate $0.09 Q1 '26 actual $0.09, match Q2 '26 estimate $0.51 Q2 '26 actual $0.63, beat Q3 '26 estimate $0.76 Q3 '26 actual $0.83, beat Q4 '26 estimate $0.82 Q1 '27 estimate $0.75 Q2 '27 estimate $1.04 Q3 '27 estimate $1.15
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Analyst Consensus ?

ConsensusBuy35 ratings
Bullish2262.9%
Neutral1234.3%
Bearish12.8%

Analyst 52W Price Targets

$62Current
$46Low
$72.14Average
$92High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Overweight OverweightMaintainOct 22, 2026
Stifel Buy BuyMaintainOct 22, 2026
JP Morgan Neutral NeutralMaintainOct 22, 2026
Evercore ISI Group Outperform OutperformMaintainOct 22, 2026
UBS Buy BuyMaintainOct 13, 2026
Citigroup Buy BuyMaintainOct 7, 2026
Susquehanna Positive PositiveMaintainOct 2, 2026
B of A Securities Buy BuyMaintainSep 23, 2026
TD Cowen Buy BuyMaintainJul 23, 2026
Benchmark Buy BuyMaintainJul 9, 2026
Morgan Stanley Overweight OverweightMaintainJul 6, 2026
Raymond James Strong Buy Strong BuyMaintainJul 2, 2026
Barclays Overweight OverweightMaintainJun 25, 2026
Goldman Sachs Buy BuyMaintainJun 23, 2026
Baird Outperform OutperformMaintainApr 23, 2026
Stephens & Co. Overweight OverweightMaintainJan 22, 2026
Deutsche Bank Buy HoldUpgradeOct 2, 2025
TD Securities Buy BuyMaintainApr 24, 2025
Wolfe Research Peer Perform OutperformDowngradeJul 11, 2024
Loop Capital Hold BuyDowngradeApr 18, 2024
Credit Suisse Neutral OutperformDowngradeMay 17, 2023
Keybanc Overweight OverweightMaintainJan 27, 2023
Cowen & Co. Outperform Market PerformUpgradeSep 15, 2021
Bank of America Buy BuyMaintainDec 20, 2019
Stifel Nicolaus Hold BuyDowngradeJul 25, 2019
Buckingham Research Buy BuyMaintainOct 12, 2018
Buckingham Buy BuyMaintainOct 12, 2018
Macquarie Neutral OutperformDowngradeJul 28, 2016
Avondale Partners Market Underperform Market PerformDowngradeJun 23, 2016
RBC Capital Sector Perform Sector PerformMaintainApr 21, 2016
Longbow Research Neutral BuyDowngradeDec 4, 2015
Wunderlich Securities Hold HoldMaintainOct 7, 2014
Wunderlich Hold HoldMaintainOct 7, 2014
BB&T Capital Hold BuyDowngradeJul 3, 2013
Sterne Agee Neutral UnderperformUpgradeMay 24, 2012
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Named analyst price targets

Upside is calculated against the persisted current price $62. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Raymond JamesPatrick Tyler Brown$84$64.87 +35.5%Oct 22, 2026
Stifel NicolausBruce Chan$92$63.2 +48.4%Oct 22, 2026
Evercore ISIJonathan Chappell$79$63.2 +27.4%Oct 22, 2026
UBSAnalyst unavailable$82$64.09 +32.3%Oct 13, 2026
UBSAnalyst unavailable$90$64.92 +45.2%Oct 9, 2026
Stifel NicolausBruce Chan$90$63.62 +45.2%Oct 8, 2026
Wells FargoAnalyst unavailable$81$65.24 +30.6%Oct 6, 2026
SusquehannaAnalyst unavailable$85$66.18 +37.1%Oct 2, 2026
BernsteinAnalyst unavailable$91$68.79 +46.8%Sep 10, 2026
Morgan StanleyAnalyst unavailable$90$66.73 +45.2%Sep 2, 2026
Evercore ISIAnalyst unavailable$85$72.86 +37.1%Jul 23, 2026
Stifel NicolausAnalyst unavailable$88$76 +41.9%Jul 23, 2026
Stifel NicolausAnalyst unavailable$85$75.19 +37.1%Jul 13, 2026
Morgan StanleyAnalyst unavailable$100$76.12 +61.3%Jul 6, 2026
Raymond JamesAnalyst unavailable$91$77.37 +46.8%Jul 2, 2026
BarclaysAnalyst unavailable$90$74.52 +45.2%Jun 25, 2026
Goldman SachsAnalyst unavailable$86$75.4 +38.7%Jun 23, 2026
Wells FargoChristian Wetherbee$86$78.57 +38.7%Jun 5, 2026
SusquehannaAnalyst unavailable$90$77.93 +45.2%Jun 2, 2026
UBSAnalyst unavailable$94$76.32 +51.6%Jun 1, 2026
Deutsche BankAnalyst unavailable$88$72.93 +41.9%May 27, 2026
Evercore ISIAnalyst unavailable$66$63.87 +6.5%May 11, 2026
Stifel NicolausAnalyst unavailable$70$66.47 +12.9%Apr 23, 2026
Robert W. BairdAnalyst unavailable$70$63.97 +12.9%Apr 23, 2026
Raymond JamesDavid Hicks$70$64.4 +12.9%Apr 20, 2026
Evercore ISIAnalyst unavailable$65$55.51 +4.8%Mar 26, 2026
Wells FargoAnalyst unavailable$64$52.01 +3.2%Mar 13, 2026
StephensAnalyst unavailable$63$58.04 +1.6%Jan 22, 2026
Stifel NicolausAnalyst unavailable$61$57.02 -1.6%Jan 22, 2026
SusquehannaAnalyst unavailable$60$57.93 -3.2%Jan 22, 2026
UBSAnalyst unavailable$54$57.93 -12.9%Jan 22, 2026
BarclaysBrandon Oglenski$65$57.17 +4.8%Jan 15, 2026
Stifel NicolausAnalyst unavailable$63$57.02 +1.6%Jan 14, 2026
Evercore ISIAnalyst unavailable$61$56.75 -1.6%Jan 12, 2026
SusquehannaBascome Majors$58$56.22 -6.5%Jan 8, 2026
Wells FargoAnalyst unavailable$60$54.05 -3.2%Jan 6, 2026
Robert W. BairdAnalyst unavailable$62$53.49 +0.0%Dec 16, 2025
Stifel NicolausAnalyst unavailable$59$53.19 -4.8%Dec 16, 2025
Morgan StanleyRavi Shanker$70$51.3 +12.9%Dec 8, 2025
Stifel NicolausAnalyst unavailable$52$47.39 -16.1%Oct 23, 2025
SusquehannaAnalyst unavailable$42$45.57 -32.3%Oct 23, 2025
Raymond JamesAnalyst unavailable$59$42.73 -4.8%Oct 14, 2025
Morgan StanleyAnalyst unavailable$67$41.41 +8.1%Oct 6, 2025
Stifel NicolausAnalyst unavailable$45$39.9 -27.4%Oct 3, 2025
BarclaysBrandon Oglenski$50$38.94 -19.4%Oct 2, 2025
Deutsche BankRicha Harnain$53$38.94 -14.5%Oct 1, 2025
Evercore ISIAnalyst unavailable$42$40.15 -32.3%Sep 30, 2025
SusquehannaAnalyst unavailable$52$44.3 -16.1%Jun 24, 2025
Stifel NicolausBruce Chan$42$38.88 -32.3%Apr 25, 2025
UBSThomas Wadewitz$46$39.03 -25.8%Apr 22, 2025
Stifel NicolausBruce Chan$49$40.54 -21.0%Apr 14, 2025
SusquehannaBascome Majors$54$44.37 -12.9%Mar 26, 2025
National BankAnalyst unavailable$63$47.88 +1.6%Mar 4, 2025
CitigroupAriel Rosa$55$51.72 -11.3%Oct 8, 2024
Evercore ISIJon Chappell$53$48.89 -14.5%Jun 25, 2024
Wells FargoChristian Wetherbee$56$48.14 -9.7%Jun 7, 2024
Stifel NicolausBruce Chan$47$47.14 -24.2%Apr 26, 2024
Robert W. BairdBenjamin Hartford$60$48.51 -3.2%Apr 25, 2024
Evercore ISIJon Chappell$55$48.51 -11.3%Apr 25, 2024
Stifel NicolausBruce Chan$53$48.53 -14.5%Apr 18, 2024
SusquehannaBascome Majors$50$48.53 -19.4%Apr 18, 2024
Loop Capital MarketsRick Paterson$53$48.53 -14.5%Apr 17, 2024
Deutsche BankAmit Mehrotra$61$48.98 -1.6%Apr 17, 2024
BarclaysBrandon Oglenski$62$55.02 +0.0%Apr 1, 2024
Morgan StanleyRavi Shanker$75$50.61 +21.0%Oct 20, 2023
SusquehannaBascome Majors$51$56.32 -17.7%Jul 21, 2023
Deutsche BankAnalyst unavailable$69$54.54 +11.3%Nov 29, 2022
SusquehannaAnalyst unavailable$65$50.22 +4.8%Jul 21, 2022
Raymond JamesAnalyst unavailable$55$50.22 -11.3%Jul 21, 2022
Wells FargoAnalyst unavailable$58$47.85 -6.5%Jul 15, 2022
BarclaysAnalyst unavailable$58$47.7 -6.5%Jul 13, 2022
Stifel NicolausBert Subin$67$49 +8.1%Jul 12, 2022
Evercore ISIJonathan Chappell$35$48.09 -43.5%Jul 12, 2022
Raymond JamesAnalyst unavailable$53$47.83 -14.5%Apr 25, 2022
Raymond JamesAnalyst unavailable$50$48.34 -19.4%Apr 20, 2022
Raymond JamesFelix Boeschen$62$54.42 +0.0%Jan 27, 2022
Evercore ISIJonathan Chappell$63$54.42 +1.6%Jan 27, 2022
Morgan StanleyRavi Shanker$85$54.42 +37.1%Jan 27, 2022
Goldman SachsJordan Alliger$60$54.03 -3.2%Jan 26, 2022
Wells FargoAllison Poliniak-Cusic$69$61.26 +11.3%Dec 13, 2021
Stifel NicolausJoseph DeNardi$72$60.47 +16.1%Dec 7, 2021
UBSThomas Wadewitz$67$60.34 +8.1%Dec 7, 2021
CitigroupChristian Wetherbee$64$60.34 +3.2%Dec 7, 2021
KeyBancTodd Fowler$70$58.17 +12.9%Nov 23, 2021
StephensJack Atkins$67$56.52 +8.1%Oct 21, 2021
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Company context

Snapshot as of publication

Knight-Swift Transportation Holdings Inc. (KNX) stands as a prominent provider of transportation services, specializing in truckload freight solutions for clients throughout the United States, Mexico, and Canada. Its operational scope is segmented into four key areas: Trucking, Logistics, Less-than-truckload (LTL), and Intermodal. Under its Trucking segment, the company manages a diverse portfolio of services, including irregular route, dedicated, temperature-controlled (refrigerated), flatbed, expedited, dry van, drayage, and cross-border transportation for a wide variety of goods and materials. Beyond its core trucking operations, Knight-Swift provides logistics and intermodal solutions, which include freight brokerage, intermodal services, comprehensive freight management, and various non-trucking offerings.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-09T00:03:27.736600+00:00
  3. Polygon adjusted daily market bars · 2026-10-26T12:00:48.149643+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T12:00:48.146956+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.