Knight-Swift Q2 Results Miss Street, Lowers Outlook

(RTTNews) - Knight-Swift Transportation Holdings Inc. (KNX) on Thursday reported the second quarter earnings and revenue that missed the street view and lowered the full-year earnings outlook.

The company reported a net income of $63.3 million or $0.39 per share for the quarter, compared to $219.5 million or $1.35 per share the prior year.

On an adjusted basis, it reported an income of $78.6 million or $0.49 per share, compared to the income of $230.2 million or $1.41 per share the prior year. Analysts expected earnings of $0.57 per share.

Revenue decreased to $1.55 billion from $1.96 billion the previous year. It missed the consensus estimate of $1.60 billion.

For the full year, the company lowered its earnings outlook to $2.10 - $2.30 per share, from the prior outlook of$3.35 - $3.55 per share. Analysts currently estimate earnings per share of $2.76.