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Knight-Swift Transportation Holdings Inc Class A - Stock Quote KNX

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Morningstar's Knight-Swift Transportation Holdings Inc Class A Stock Analysis

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Robust Freight Backdrop Spills Into 2022 for Knight-Swift, but Normalization Likely in 2023

Matthew Young, CFA Equity Analyst

Business Strategy and Outlook

| Matthew Young, CFA |

Before its 2017 merger with Swift Transportation, Knight Transportation was the 12th-largest asset-based full-truckload carrier in the United States, with a history of exceptional execution, including average ROICs in the low-teens--an unusual accomplishment in trucking. Knight's long-standing laser focus on network efficiency has served it well given the asset-intensive nature of trucking. Its legacy operating ratio (expenses/revenue, excluding fuel surcharges) averaged in the mid-80% range before the Swift deal, versus an industry average that traditionally exceeds 90%.

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Knight-Swift Transportation Holdings Inc Class A's Company Profile

Business Description

Knight-Swift Transportation is by far the largest asset-based full-truckload carrier in the United States. About 80% of revenue derives from asset-based truckload shipping operations (including for-hire dry van, refrigerated, and dedicated contract). The remainder stems from truck brokerage and other asset-light logistics services (8%), as well as intermodal (8%), which uses the Class-I railroads for the underlying movement of the firm's shipping containers and also offers drayage services.

Contact
2002 West Wahalla Lane
Phoenix, AZ, 85027
T +1 602 269-2000
Sector Industrials
Industry Trucking
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 27,900

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