Why Knight-Swift Transportation Shares Are Sliding Today
Portfolio Pulse from Lekha Gupta
Knight-Swift Transportation Holdings Inc (NYSE:KNX) shares are trading lower after the company reported worse-than-expected Q2 2023 earnings and cut its 2023 guidance. Revenues of $1.55 billion, down 20.8% Y/Y, missed the consensus of $1.60 billion. The company lowered the outlook for 2023 adjusted EPS to $2.10-$2.30 from $3.35-$3.55. KNX shares are down by 3.31% at $54.00 premarket on the last check Friday.
July 21, 2023 | 11:25 am
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Knight-Swift's shares are trading lower due to disappointing Q2 2023 earnings and a cut in 2023 guidance. The company's revenues and adjusted EPS missed the consensus estimates.
Knight-Swift reported lower than expected earnings and cut its 2023 guidance, which has led to a decrease in its stock price. Investors are likely reacting to the disappointing financial results and the negative outlook for the company.
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