Knight-Swift Transportation Cuts Earnings Outlook - Quick Facts

(RTTNews) - Knight-Swift Transportation Holdings Inc. (KNX) has updated its adjusted EPS guidance ranges for the third and the fourth quarter of 2019 due to the increased competition within the intermodal market, leading to unexpected reductions in volume and revenue per load, and greater than expected pressure on freight rates, primarily due to an oversupply of truckload capacity.

Based on preliminary results, the company now expects third-quarter adjusted EPS to range from $0.47 to $0.48 (down from prior guidance range of $0.54 to $0.57). Analysts polled by Thomson Reuters expect the company to report profit per share of $0.54. Analysts' estimates typically exclude special items.

The company now expects fourth-quarter adjusted EPS in a range of $0.62 to $0.65 (lower from previously issued outlook of $0.73 to $0.77). Analysts expect the company to report profit per share of $0.71.

For the first-quarter, the company expects adjusted EPS in a range of $0.42 to $0.46.