{
  "id": 15960383,
  "title": "First look: Knight-Swift’s Q3 beats expectations",
  "url": "https://urgent.news/2026/10/21/first-look-knight-swifts-q3-beats-expectations",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-21T21:39:32.000Z",
  "source": {
    "name": "FreightWaves",
    "slug": "freightwaves",
    "url": "https://www.freightwaves.com/news/first-look-knight-swifts-q3-beats-expectations"
  },
  "original_language": "en",
  "account": "Knight-Swift Transportation reported better-than-expected third-quarter results on Wednesday, surpassing analyst estimates. The company's adjusted earnings per share (EPS) of 83 cents exceeded the consensus estimate of 82 cents. Revenue for the period stood at $2.2 billion, reflecting a 14% year-over-year increase, which was slightly above the forecast of $2.17 billion. CEO Adam Miller highlighted continued momentum across the company's businesses, attributing the growth to rate resets, cost and operational initiatives, and a higher-than-average number of spot and project opportunities. The truckload unit experienced a 6.5% year-over-year revenue increase (excluding fuel), driven by an 11% rise in revenue per tractor, somewhat offset by a 4% decline in the average number of tractors in service. Loaded miles per tractor climbed by 1% year-over-year, marking an eighth consecutive increase. Revenue per loaded mile (excluding fuel) rose by 10% year-over-year, while the over-the-road service saw a mid-teens percentage increase. The TL unit's adjusted operating ratio of 89.2% was 700 basis points higher year-over-year and aligned with the midpoint of management's guidance range. In the less-than-truckload (LTL) segment, revenue grew by less than 1% year-over-year despite a 3% increase in tonnage, as revenue per hundredweight fell by 1%. Contractual renewals saw a mid-single-digit percentage increase, and the LTL unit reported a 91.4% adjusted operating ratio, which was 80 basis points worse year-over-year. For the fourth quarter, Knight-Swift projected adjusted EPS guidance between 78 and 84 cents, falling within the 82-cent consensus estimate. The improved performance reflects the market's shift from a cyclical downturn to a structural recovery, positioning Knight-Swift as a bellwether for industry trends.",
  "summary": "Knight-Swift Transportation beat third-quarter expectations and issued a fourth-quarter outlook that was in line with the consensus estimate. The post First look: Knight-Swift’s Q3 beats expectations appeared first on FreightWaves .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}