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Knight-Swift's Q3 2023 earnings report shows ups and downs, with revenue surpassing estimates but profits taking a hit.
Knight-Swift Transportation (KNX) shares jumped 11.75% after its earnings report on Friday. However, the company's overall numbers are a mixed bag.
Earnings Highlights:
Revenue Details:
Challenges Afoot:
Trucking Insight:
CEO David Jackson discussed challenges in the truckload freight market and the potential for positive rate pressure, predicting a market turnaround. The company focuses on improving performance, growing the less-than-truckload business, and turning around U.S. Xpress Enterprises, its recent acquisition.
Sources: Transport Topics | ZACKS
Knight-Swift CEO: "It's taken a lot to get to this point so deep along the bottom of this current cycle. But the market is beginning to show signs of sensitivity to when supply leaves suddenly or a provider cannot perform..."$KNX https://t.co/EsRXoZAsso pic.twitter.com/p9zbuKHlPO
— The Transcript (@TheTranscript_) October 21, 2023
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