Here are the 10-Q quarterly reports from Knight-Swift Transportation Holdings Inc. (KNX) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow KNX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full KNX filings page.
Knight-Swift Transportation Holdings Inc. (KNX) reported third-quarter 2026 revenue of $2.20 billion, versus $1.93 billion a year earlier, and net income attributable to Knight-Swift of $118.3 million, versus $7.9 million.
For the year-to-date period ended September 30, 2026, operating income rose 64.6% to $312.1 million and net income attributable to Knight-Swift rose 120.1% to $160.1 million; operating cash flow was $799.9 million. On May 8, 2026, the company completed a $1.5 billion face-value offering of 1.00% convertible notes due 2031. It used $107.1 million for capped calls and applied the remaining net proceeds to repay all $300.0 million of the 2025 Term Loan A-2, $436.0 million of the 2025 Term Loan A-1, and all $620.0 million then outstanding under the 2025 Revolver.
For fourth-quarter 2026, the company expects Truckload revenue excluding fuel surcharge to rise by a low double-digit percentage, with its Adjusted Operating Ratio improving 650–750 basis points year over year; Intermodal revenue is forecast to rise 25%–30%. All Other Segments are forecast to record a loss of approximately $13 million to $17 million before including $11.5 million of quarterly intangible asset amortization. Full-year net cash capital expenditures are expected at $600 million–$625 million.
Knight-Swift Transportation Holdings reported Q2 2026 revenue of $2.10 billion and net income attributable to Knight-Swift of $43.2 million, up from $34.2 million a year earlier. Diluted EPS was $0.26. Operating income rose to $104.9 million, improving the consolidated operating ratio to 95.0%.
For the first half of 2026, revenue reached $3.95 billion while net income attributable to Knight-Swift decreased 35.5% to $41.9 million, pressured by a higher effective tax rate, $18.0 million of adverse LTL claims in the first quarter, and a $22.8 million increase in U.S. Xpress contingent consideration. Adjusted EPS was $0.72 and adjusted operating ratio 94.1%.
The company issued $1.5 billion of 1.00% Convertible Senior Notes due 2031, using net proceeds to repay its 2025 Term Loan A‑2, reduce Term Loan A‑1, and fully repay 2025 revolver borrowings, while spending $107.1 million on capped calls to limit potential dilution. Year-to-date operating cash flow was $450.4 million and Free Cash Flow $190.4 million, supporting $402.0 million of remaining 2026 revenue equipment commitments and additional facility investments. Management expects mid single-digit Truckload revenue growth year-over-year and materially better Truckload adjusted operating ratio in Q3 2026, with modest LTL growth and generally stable to slightly improving performance in Logistics, Intermodal, and All Other Segments.
Knight-Swift Transportation Holdings Inc. reported essentially flat first-quarter 2026 revenue of $1.85 billion versus $1.82 billion a year earlier but swung to a net loss of $1.3 million compared with net income of $30.6 million. Operating income fell to $28.6 million from $66.7 million, and the consolidated operating ratio weakened to 98.5% from 96.3%, reflecting higher costs and adverse items.
The LTL segment moved from a $12.7 million profit to a $3.6 million operating loss, mainly due to $18 million of adverse claims development tied to a 2022 arbitration ruling. Truckload profits also declined, pressured by a $4.1 million VAT reimbursement charge in Mexico and severe winter weather, though revenue per mile and utilization improved.
All Other Segments shifted from $6.0 million of operating income to a $7.1 million loss, driven in part by $5.2 million of accounts receivable securitization costs now recorded in operating expenses. Despite weaker earnings, Knight-Swift generated $142.5 million of operating cash flow and $56.9 million of free cash flow, ending the quarter with $222.8 million in unrestricted cash, $1.75 billion of long-term debt including the revolver, and $7.1 billion of stockholders’ equity. Management expects modest year-over-year revenue growth and margin improvement across most segments in the second quarter of 2026, along with full-year 2026 net cash capital expenditures of $600–$650 million and an effective tax rate of roughly 25.5%–26.5% on adjusted income.
Knight-Swift Transportation Holdings Inc. filed its Q3 2025 10‑Q, reporting softer quarterly earnings with continued balance sheet repositioning. Revenue was $1,927,057,000, up modestly year over year, while net income attributable to Knight‑Swift was $7,861,000 and diluted EPS was $0.05. Operating income was $50,326,000 as higher insurance and impairment costs weighed on results.
YTD operating cash flow reached $543,431,000, supporting $641,573,000 of property and equipment purchases. The company refinanced into a new $2.5 billion unsecured credit facility on July 8, 2025, ending Q3 with $707,000,000 drawn on the 2025 Revolver and $997,313,000 across the 2025 Term Loans and other borrowings. Accounts receivable securitization stood at $455,200,000, later amended on October 1, 2025 to extend maturity to October 2, 2028 and remove the 10 bps SOFR adjustment.
Q3 included $34,805,000 of impairments, driven by a $28,800,000 tradename impairment tied to rebranding within LTL. The effective tax rate rose to 47.0% in the quarter. The Board’s April 2022 repurchase authorization still had $200,000,000 remaining; no repurchases occurred. Dividends declared were $0.18 per share in Q3. Shares outstanding were 162,339,000 as of October 22, 2025.