Knight-Swift Transportation projects third-quarter 2026 adjusted earnings per share in the range of $0.71 to $0.77, reflecting accelerating contractual pricing gains and a reset in brokerage insurance costs. Management said the truckload freight market has rapidly tightened, with spot rates well ahead of normal seasonality and tender rejection rates reaching levels not seen since 2021, while bid outcomes brought double-digit percentage gains in pricing. The company expects rate momentum to continue as many negotiated rates take effect in July and August, and it anticipates a stable truck count sequentially with the truckload business operating in the high 80s adjusted operating ratio. Second-quarter adjusted EPS was $0.63 on a consolidated adjusted operating ratio of 91.4%, with the Truckload segment improving its adjusted operating ratio by 360 basis points year-over-year to 91% and the US Xpress Over-the-Road division achieving its first profitable quarter since acquisition. Near-term headwinds include driver availability challenges, a decline in brokerage gross margin to 15.4%, and uncertainty around fuel costs, while a convertible bond issuance is expected to generate about $44 million in annual pretax savings.
Knight Transportation IncCompany projects Q3 EPS above Q2, citing accelerating contractual pricing gains and double-digit percentage bid increases.
US Xpress Over-the-Road division achieved its first profitable quarter since acquisition, indicating improved demand and operational turnaround.