Why Freight Transportation Company Knight-Swift's Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Knight-Swift Transportation Holdings Inc. (NYSE:KNX) shares surged over 12% following better-than-expected Q3 2023 earnings results. Revenues were $2.02 billion, up 6.5% Y/Y, beating the consensus of $1.89 billion. Adjusted EPS of $0.41 surpassed the street estimates of $0.36. The company tightened FY23 adj. EPS guidance to $2.10-$2.20. The company expects net cash capital expenditures of $700 million – $750 million.
October 20, 2023 | 12:26 pm
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Knight-Swift's Q3 2023 earnings beat expectations, leading to a surge in its stock price. The company also tightened its FY23 adj. EPS guidance.
Knight-Swift reported better-than-expected Q3 2023 earnings, which led to a surge in its stock price. The company's revenues and adjusted EPS both beat consensus estimates, which is a positive signal for investors. The company also tightened its FY23 adj. EPS guidance, which may indicate confidence in its future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100