Knight-Swift Q1 profit collapses 57% on $18M LTL arbitration loss; swings to net loss

Filed April 29, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 30, 2025 · ~1 min read

Key Changes

• high

  Operating income fell 57% to $28.6M as LTL segment swung to 101% operating ratio (loss) on $18M adverse arbitration ruling related to a 2022 claim, erasing prior-year profitability.

  MD&A: LTL Segment Performance verify on EDGAR →
• high

  Company swung from $30.6M net income in Q1 2025 to $1.3M net loss in Q1 2026, driven by LTL arbitration loss, Truckload VAT dispute ($4.1M), and investment portfolio losses.

  MD&A: Consolidated Results verify on EDGAR →
• high

  Q2 2026 LTL revenue guidance downshifted to low-single-digit growth from prior year's 25-30%, signaling mature network phase after rapid expansion cycle ends.

  MD&A: 2026 Guidance verify on EDGAR →