Q2 2026 Knight-Swift Transportation Holdings Inc Earnings Call Transcript
Key Points
- Knight-Swift Transportation Holdings Inc (KNX) reported a 5.5% increase in consolidated revenue, excluding Truckload and LTL fuel surcharge, year over year.
- Operating income grew by $32.2 million or 44.4%, and adjusted operating income increased by $47.2 million or 45.5%, year over year.
- The Truckload segment saw a 69.4% increase in adjusted operating income year over year, driven by disciplined network management and strategic deployment of capacity.
- The Intermodal segment experienced a 34.9% increase in revenue and improved its operating ratio by 470 basis points year over year.
- Knight-Swift Transportation Holdings Inc (KNX) successfully issued convertible bonds at 1%, generating annual savings of approximately $44 million pre-tax.
- The Logistics segment faced a 350 basis points decline in gross margin year over year, with an adjusted operating ratio of 96.4%.
- Revenue per hundredweight in the LTL segment, excluding fuel surcharge, fell by 4.2% due to an increase in weight per shipment.
- The company anticipates fuel to be a potential headwind in the third quarter, based on recent trends.
- Driver availability remains a challenge, affecting over-the-road dedicated LTL and drayage markets.
- Knight-Swift Transportation Holdings Inc (KNX) experienced a significant increase in brokerage insurance premiums following the Montgomery ruling.
Good afternoon. My name is Gillian Robinson. I'll be your conference operator today. At this time, I would like to welcome everyone to the Knight-Swift Transportation second-quarter 2026 earnings call.
(Operator Instructions)
Speakers from today's call will be Adam Miller, Chief Executive Officer; Andrew Hess, Chief Financial Officer; Brad Stewart, Treasurer and Senior VP of Investor Relations.
Mr. Stewart, the meeting is now yours.
Thank you, Gillian. Good afternoon, everyone. Thank you for joining our second-quarter 2026 earnings call.
Today, we plan to discuss topics related to the results of the quarter, current market conditions, and our earnings guidance. We have slides to accompany this call, which are posted on our investor website.
Our call is scheduled to last one hour. Following our commentary, we will answer questions related to these topics.
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