Welcome to our dedicated page for Knight-Swift Transportation Holdings news (Ticker: KNX), a resource for investors and traders seeking the latest updates and insights on Knight-Swift Transportation Holdings stock.
Knight-Swift Transportation Holdings Inc., with its subsidiaries, provides comprehensive truckload transportation services across the United States and Mexico. The company operates through three primary segments: Trucking, Logistics, and Intermodal. Within its trucking division, Knight-Swift offers a variety of services including irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of diverse products and materials.
In the logistics sector, the company offers brokerage, freight management, and non-trucking services, leveraging its expertise to provide efficient solutions. The intermodal segment utilizes Class-I railroads for transporting shipping containers, supplementing regional trucking services to and from inland intermodal ramps and terminals. This integrated approach ensures a seamless and efficient logistics chain.
Supporting its core transportation functions, Knight-Swift provides maintenance and repair shop services, warranty and insurance solutions, equipment leasing, and trailer parts manufacturing. The company also runs a driving academy to ensure a steady stream of qualified drivers. Knight-Swift's fleet strength is notable, operating 18,877 tractors, including 16,432 company-owned and 2,445 independent contractor tractors, and 58,315 trailers.
Knight-Swift is the largest truckload carrier in the US, known for its diversified transport offerings. Following the acquisition of US Xpress, around 82% of the company's revenue comes from its asset-based trucking enterprise, with full-truckload services accounting for 69% and less-than-truckload (LTL) for 13%. Truck brokerage and other asset-light logistics services contribute 9%, while intermodal services make up about 6% of the revenue. The company also extends various services to shippers and third-party truckers, including equipment maintenance and leasing.
Recent developments, strategic acquisitions, and ongoing projects reflect Knight-Swift's commitment to growth and operational excellence, making it a significant player in the transportation industry.
Knight-Swift Transportation Holdings expects to release its 2021 second quarter earnings on July 21, 2021, before market open. A Form 8-K will be filed with the SEC and the earnings release will be accessible on the Company’s website. Investors are advised to refer to the risk factors in the Company’s Annual Report for potential uncertainties affecting future results.
On June 1, 2021, Knight-Swift Transportation (NYSE: KNX) acquired 100% of UTXL, a Kansas City-based third-party logistics company, for approximately $22.5 million. UTXL reported over $100 million in operating revenue last year, with an operating ratio in the low-90s. The deal includes an escrow portion for indemnification, working capital adjustments, and potential deferred payments. Knight-Swift aims to enhance its service offerings through UTXL's customer-specific solutions and plans to support its brand while leveraging technology for operational synergies.
Knight-Swift Transportation Holdings (NYSE: KNX) announced that key executives, including David Jackson, President and CEO, and Adam Miller, CFO, will participate in the KeyBanc Capital Markets Industrials and Basic Materials Virtual Conference from June 1-3, 2021. Knight-Swift is a leader in truckload transportation and logistics, operating the largest tractor fleet in the U.S. and providing diverse truckload services across North America. This participation reflects their commitment to engaging with investors and stakeholders.
Knight-Swift Transportation Holdings Inc. (NYSE:KNX) has released its earnings for Q1 2021, showing its continued dominance in North America’s truckload transportation sector. The earnings report is available on the company's investor relations website and will also be submitted to the SEC as a Form 8-K. Details regarding revenue, net income, and operational metrics were not disclosed in the press release.
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) has declared a quarterly cash dividend of $0.10 per share, up by $0.02 from the previous $0.08. This dividend reflects the company's financial stability and is based on a policy approved by the board. The dividend will be payable to stockholders of record on June 4, 2021, with an expected payment date of June 28, 2021. Knight-Swift operates the largest tractor fleet in North America and offers extensive transportation and logistics services.
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) has implemented significant pay increases for drivers and Independent Contractors, effective April 2021. Over-the-road company drivers now earn above $0.50 per mile, with some regions exceeding $0.60. Training students saw pay hikes of 40% and can earn over $60,000 annually. Independent Contractors will receive a contract rate increase of $0.03 to $0.05 per mile. Knight-Swift also invested over $250 million in facility enhancements and $500 million annually in new tractors, aiming to improve drivers' overall experience.
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) will report its Q1 2021 earnings on April 21, 2021, before market opening via a Form 8-K filed with the SEC. The earnings release will be accessible on the Company’s website and through the SEC's site. Investors are advised that the earnings release may include forward-looking statements with inherent risks and uncertainties. Details on potential impacts can be found in Part I, Item 1A., Risk Factors, of Knight-Swift’s Annual Report on Form 10-K for the year ending December 31, 2020.
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) announced a quarterly cash dividend of $0.08 per share, payable to shareholders of record on March 5, 2021, with payment expected on March 26, 2021. This dividend is part of the Company's cash dividend policy approved by its board of directors, contingent on the Company's financial performance. Knight-Swift operates North America's largest tractor fleet, providing diverse truckload transportation and logistics services across the United States and Mexico.
Knight-Swift Transportation Holdings (NYSE: KNX) announced on February 1, 2021, the acquisition of a majority stake in Eleos, a software provider based in Greenville, SC. Eleos offers a programmable mobile driver workflow platform that enhances communication between trucking fleets and drivers, boosting profits and satisfaction. Knight-Swift CEO, Dave Jackson, emphasized the platform's valuable contribution to safety and productivity. Eleos CEO, Kevin Survance, expressed trust in Knight-Swift’s leadership, indicating the partnership will strengthen Eleos's position in the transportation industry.
FAQ
What is the current stock price of Knight-Swift Transportation Holdings (KNX)?
What is the market cap of Knight-Swift Transportation Holdings (KNX)?
What services does Knight-Swift Transportation Holdings offer?
Where does Knight-Swift operate?
How many tractors and trailers does Knight-Swift operate?
What is Knight-Swift's primary revenue source?
What are Knight-Swift's intermodal services?
Does Knight-Swift offer any non-transportation services?
What percentage of revenue does logistics and intermodal services contribute?
Is Knight-Swift the largest truckload carrier in the US?
What is Knight-Swift's recent acquisition?
What support services does Knight-Swift provide to third-party truckers?
