Knight-swift Transportation Holdings Inc. · NYSE:KNX
Knight-swift Transportation — Q1 2025 Earnings Presentation
19 slides from Knight-swift Transportation's earnings presentation, Apr 23, 2025
Slide 1: First Quarter 2025 Earnings
Knight - Swift Transportation First Quarter 2025 Earnings
Slide 2: Disclosure
Disclosure This presentation, including documents incorporated herein by reference, will contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements
Slide 3: Q1 2025 Comparative Results
Q1 2025 Comparative Results Solid start to quarter before tariff concerns negatively impacted seasonality Total Revenue Revenue xFSC Operating Income Adj. Operating Inc. 1 0.1% 1.2% 224.3% 68.2% 1,822 1,824 87 1,613 1,633 67 In millions In millions 51 21 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 Net I
Slide 4: Q1 2025 Segment Overview
Q1 2025 Segment Overview Continued year-over-year improvements in TL while LTL grows into our expanded network Revenue Adjusted Adjusted Q1 2025 Revenue Diversification xFSC2 Op Income1 OR1 ~15,800 irregular route and Truckload $1,048.1M $46.5M 95.6% ~6,100 dedicated tractors LTL 18% s 9% Less-than-
Slide 5: Operating Performance - Truckload
Operating Performance - Truckload Modest improvements in truckload fundamentals drive income growth Truckload Financial Metrics Q1 2025 Q1 2024 Change • Adjusted Operating Ratio improved 170 bps year-over-year, (Dollars in millions) reflecting 100 bps improvement for U.S. Xpress and 200 bps Revenue
Slide 6: Operating Performance - Less-Than-Truckload
Operating Performance - Less-Than-Truckload Expanded network creating new opportunities and leading to strong shipment growth LTL Financial Metrics Q1 2025 Q1 2024 Change • Revenue xFSC increased 26.7% year-over-year driven by 24.2% (Dollars in millions) shipment growth and 9.3% year-over-year incre
Slide 7: Operating Performance - Logistics
Operating Performance - Logistics Complementing our truckload business while creating value for our customers Logistics Financial Metrics Q1 2025 Q1 2024 Change • 95.5% Adjusted Operating Ratio1 during the quarter, 160 bps (Dollars in millions) improvement year-over-year Revenue ex intersegment $141
Slide 8: Operating Performance - Intermodal
Operating Performance - Intermodal Continued year-over-year improvements in revenue and margin Intermodal Financial Metrics Q1 2025 Q1 2024 Change • Operating ratio improved 360 bps year-over-year (Dollars in millions) • Load count up 4.6% year-over-year as we drive diversity and Revenue ex interseg
Slide 9: Operating Performance - All Other Segments
Operating Performance - All Other Segments Trailer leasing and warehousing operations providing value to our customers All Other Financial Metrics Q1 2025 Q1 2024 Change • Revenue decline largely as a result of winding down our (Dollars in millions) third-party insurance program at the end of Q1 202
Slide 10: EPS Guidance
EPS Guidance Expect Adjusted EPS to be in the range of $0.30 - $0.38 in Q2 Guidance Assumptions • Revenue xFSC up low single-digit % sequentially in Q2 with operating margins relatively stable sequentially Truckload • Revenue per mile fairly flat sequentially as contract rate improvement is offset b
Slide 11: Appendix
Appendix KNIGHT (SWirT AAA COOPER US. XPRESS sranspontarion AY transonrartow TRANSPORTATION A - CE) Oy ABEENE 9 temamer —— <Donan
Slide 12: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Operating Income, Adjusted Operating Expenses, and Adjusted Operating Ratio 1 2 (Unaudited) Quarter Ended March 31, 2025 2024 GAAP Presentation (Dollars in thousands) Total revenue $ 1,824,362 $ 1,822,467 Total operating expenses (1,757,699) (1,801,912) Operating inc
Slide 13: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Operating Income, Adjusted Operating Expenses, and Adjusted Operating Ratio (Unaudited) 1 Pursuant to the requirements of Regulation G, this table reconciles consolidated GAAP operating ratio to consolidated non-GAAP Adjusted Operating Ratio. 2 The reported results d
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Net Income Attributable to Knight-Swift and Adjusted EPS 1 2 (Unaudited) Quarter Ended March 31, 2025 2024 (Dollars in thousands, except per share data) GAAP: Net income (loss) attributable to Knight-Swift $ 30,639 $ (2,635) Adjusted for: Income tax expense (benefit)
Slide 15: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Adjusted NetNet Income Attributable Income to Knight-Swift Attributable and Adjusted EPS to Knight-Swift (Unaudited)EPS 1 2 (Unaudited) and1 2Adjusted Quarter Ended March 31, 2025 2024 GAAP: Earnings (loss) per diluted share $ 0.19 $ (0.02) Adjusted for: Income tax e
Slide 16: Non-GAAP Reconciliation: Truckload Segment
Non-GAAP Reconciliation Segment Adjusted Operating Income, Adjusted Operating Expenses, and Adjusted Operating Ratio 1 (Unaudited) Quarter Ended March 31, Truckload Segment 2025 2024 GAAP Presentation (Dollars in thousands) Total revenue $ 1,192,550 $ 1,263,015 Total operating expenses (1,147,950) (
Slide 17: Non-GAAP Reconciliation: LTL Segment
Non-GAAP Reconciliation Segment Adjusted Operating Income, Adjusted Operating Expenses, and Adjusted Operating Ratio 1 (Unaudited) Quarter Ended March 31, LTL Segment 2 2025 2024 GAAP Presentation (Dollars in thousands) Total revenue $ 352,401 $ 282,122 Total operating expenses (339,707) (261,835) O
Slide 18: Non-GAAP Reconciliation: Logistics Segment
Non-GAAP Reconciliation Segment Adjusted Operating Income, Adjusted Operating Expenses, and Adjusted Operating Ratio 1 (Unaudited) Quarter Ended March 31, Logistics Segment 2025 2024 GAAP Presentation (Dollars in thousands) Revenue $ 141,621 $ 126,729 Total operating expenses (136,478) (124,256) Ope
Slide 19: Non-GAAP Reconciliation: Intermodal Segment
Non-GAAP Reconciliation Segment Adjusted Operating Income, Adjusted Operating Expenses, and Adjusted Operating Ratio 1 (Unaudited) Quarter Ended March 31, Intermodal Segment 2025 2024 GAAP Presentation (Dollars in thousands) Revenue $ 91,103 $ 87,985 Total operating expenses (92,915) (92,893) Operat
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