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Knight-Swift Transportation Shares Jump 14% on Revenue Push From Less-Than-Truckload Unit

By Sabela Ojea


Shares of Knight-Swift Transportation jumped 14% to $52.45 in after-hours trading after the company said its less-than-truckload business helped offset another drop in third-quarter revenue.

The North American truckload carrier on Thursday said revenue rose 6.5% to $2.02 billion in the period, despite seeing a 22% drop in revenue in its core truckload segment. Analysts polled by FactSet had forecast lower revenue of $1.89 billion.

Knight-Swift Transportation said revenue coming from its less-than-truckload business unit climbed 7%, when excluding fuel surcharge and intersegment transactions, boosted by improvements in volumes and pricing.

The company remains “excited” about the future of its less-than-truckload business, Chief Executive David Jackson said.

In the prior quarter, Knight-Swift Transportation saw revenue plunge 21% to $1.55 billion.


Write to Sabela Ojea at [email protected]


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