NYSE: KNX
Knight-Swift Transportation Holdings Inc.CIK 0001492691 · SIC 4213 · Trucking (Except Local)
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Knight-Swift adds ex-Daimler Truck Financial CEO Richard Howard to board, declares $0.20 dividend
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KNX Q2 2026: revenue $2.10B, net income $43.2M. Truckload pricing improves 650-750bp on tightening market; debt refinance
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Knight-Swift Q2 earnings jump 80% on truckload pricing gains, issues $1.5B convertibles
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Knight-Swift Executive Chairman Kevin Knight resigns, receives $20.25M consulting deal
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Knight-Swift declares $0.20 quarterly dividend, shareholders approve executive pay at annual meeting
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Knight-Swift raises $1.5B via convertible notes to refinance debt, adds dilution protection
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revenue $1.85B, net income -$1.3M. Knight-Swift Q1 profit collapses 1.4% on LTL arbitration loss; swings to net loss
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Knight-Swift reports Q1 2026 earnings, releases results and investor presentation
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Knight-Swift revises Q1 2026 earnings guidance, issues Q2 outlook
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Latest financial statements
From 10-Q filed Oct 28, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(in thousands, except per share amounts; mapped from filer XBRL tags, not printed on the filing face)
| Description | Q3 ended Sep 30, 2026 | Q3 ended Sep 30, 2025 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 2,200,926 | 1,927,057 |
| Total operating expenses | 2,022,221 | 1,876,731 |
| Operating income | 178,705 | 50,326 |
| Interest expense | 18,174 | 40,934 |
| Other income/(expense), net | 97 | 3,638 |
| Income before income taxes | 162,529 | 15,720 |
| Income tax expense/(benefit) | 44,463 | 7,388 |
| Net income | 118,066 | 8,332 |
| Net income attributable to shareholders | 118,266 | 7,861 |
| Basic earnings per share | 0.73 | 0.05 |
| Diluted earnings per share | 0.72 | 0.05 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except per share data)
| Description | September 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 254,156 | 220,420 |
| Cash and cash equivalents restricted | 63,873 | 82,381 |
| Trade receivables, net of allowance for doubtful accounts of $4,509 and $30,647, respectively | 479,791 | 305,324 |
| Contract balance revenue in transit | 17,138 | 9,642 |
| Prepaid expenses | 105,259 | 113,985 |
| Assets held for sale | 47,074 | 72,985 |
| Income tax receivable | 43,174 | 45,895 |
| Other current assets | 28,649 | 36,894 |
| Total current assets | 1,039,114 | 887,526 |
| Gross property and equipment | 7,741,664 | 7,380,056 |
| Less: accumulated depreciation and amortization | (2,888,540) | (2,662,331) |
| Property and equipment, net | 4,853,124 | 4,717,725 |
| Operating lease right-of-use-assets | 271,786 | 314,571 |
| Goodwill | 3,934,741 | 3,934,741 |
| Intangible assets, net | 1,879,267 | 1,935,699 |
| Other long-term assets | 163,537 | 165,174 |
| Total assets | 12,141,569 | 11,955,436 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 318,331 | 200,835 |
| Accrued payroll and purchased transportation | 231,383 | 194,910 |
| Accrued liabilities | 71,722 | 66,638 |
| Claims accruals current portion | 257,129 | 246,882 |
| Finance lease liabilities and long-term debt current portion | 167,645 | 194,406 |
| Operating lease liabilities current portion | 96,550 | 127,538 |
| Total current liabilities | 1,142,760 | 1,031,209 |
| Revolving line of credit | — | 626,000 |
| Long-term debt less current portion | 180,177 | 1,027,793 |
| Convertible senior notes | 1,467,377 | — |
| Finance lease liabilities less current portion | 507,721 | 502,042 |
| Operating lease liabilities less current portion | 187,089 | 207,788 |
| Claims accruals less current portion | 404,916 | 359,546 |
| Deferred tax liabilities | 931,303 | 904,075 |
| Other long-term liabilities | 237,589 | 205,117 |
| Total liabilities | 5,058,932 | 4,863,570 |
| Commitments and contingencies (Notes 7, 8, and 9) | ||
| Stockholders’ equity: | ||
| Preferred stock, par value $0.01 per share; 10,000 shares authorized; none issued | — | — |
| Common stock, par value $0.01 per share; 500,000 shares authorized; 162,760 and 162,339 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively. | 1,628 | 1,623 |
| Additional paid-in capital | 4,421,607 | 4,480,725 |
| Accumulated other comprehensive loss | (273) | (716) |
| Retained earnings | 2,650,102 | 2,600,822 |
| Total Knight-Swift stockholders' equity | 7,073,064 | 7,082,454 |
| Noncontrolling interest | 9,573 | 9,412 |
| Total stockholders’ equity | 7,082,637 | 7,091,866 |
| Total liabilities and stockholders’ equity | 12,141,569 | 11,955,436 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Year-to-Date September 30, 2026 | Year-to-Date September 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 159,803 | 72,492 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization of property, equipment, and intangibles | 591,389 | 590,791 |
| Gain on sale of property and equipment | (53,861) | (54,680) |
| Impairments | 882 | 45,417 |
| Deferred income taxes | 53,381 | 21,309 |
| Non-cash lease expense | 113,158 | 120,998 |
| Gain on equity securities | (427) | (724) |
| Other adjustments to reconcile net income to net cash provided by operating activities | 52,977 | 31,380 |
| Increase (decrease) in cash resulting from changes in: | ||
| Trade receivables | (187,317) | (69,755) |
| Income tax receivable | 2,721 | (42,116) |
| Accounts payable | 51,718 | (86,406) |
| Accrued liabilities and claims accrual | 110,905 | 18,823 |
| Operating lease liabilities | (113,533) | (118,823) |
| Other assets and liabilities | 18,085 | 14,725 |
| Net cash provided by operating activities | 799,881 | 543,431 |
| Cash flows from investing activities: | ||
| Proceeds from sale of property and equipment, including assets held for sale | 190,071 | 234,234 |
| Purchases of property and equipment | (616,747) | (641,573) |
| Expenditures on assets held for sale | — | (855) |
| Acquisition of leased assets | — | (10,425) |
| Other cash flows used in investing activities | (1,180) | (5,891) |
| Net cash used in investing activities | (427,856) | (424,510) |
| Cash flows from financing activities: | ||
| Repayments of finance leases and long-term debt | (980,253) | (1,561,267) |
| Proceeds from long-term debt | — | 1,000,000 |
| Borrowings on revolving lines of credit | 62,000 | 907,000 |
| Repayments on revolving lines of credit | (688,000) | (432,000) |
| Borrowings under accounts receivable securitization | — | 46,000 |
| Repayments of accounts receivable securitization | — | (50,000) |
| Proceeds from convertible senior notes | 1,466,250 | — |
| Purchase of capped calls | (107,100) | — |
| Proceeds from common stock issued | 4,113 | 4,422 |
| Dividends paid | (98,394) | (88,214) |
| Other cash flows used in financing activities | (21,352) | (15,078) |
| Net cash used in financing activities | (362,736) | (189,137) |
| Net increase (decrease) in cash, restricted cash, and equivalents | 9,289 | (70,216) |
| Cash, restricted cash, and equivalents at beginning of period | 308,740 | 370,230 |
| Cash, restricted cash, and equivalents at end of period | 318,029 | 300,014 |
Face scale: (In thousands, except per share data); (In thousands). Statements found on the EDGAR/iXBRL face print as filed; the rest are presentation-friendly mappings of filer XBRL tags, at the scale noted on each table. EPS as reported. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗