Knight-Swift Transportation Q1 Profit Tops View; Lifts FY Profit Outlook

(RTTNews) - Knight-Swift Transportation Holdings Inc. (KNX) reported that its first quarter 2021 net income attributable to the company rose to $129.79 million or $0.77 per share from $65.43 million or $0.38 per share in the prior year.

Adjusted earnings per share was $0.83, compared to $0.44 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew to $1.22 billion from $1.12 billion in the previous year. Analysts expected revenues of $1.22 billion for the quarter.

The company raised its adjusted earnings per share outlook for full-year 2021 to a range of $3.45 - $3.60, from the prior range of $3.20 - $3.40. Analysts expect annual earnings of $3.40 per share.