Knight-swift Transportation Holdings Inc. · NYSE:KNX
Knight-swift Transportation — Q4 2024 Earnings Presentation
20 slides from Knight-swift Transportation's earnings presentation, Jan 22, 2025
Slide 1: Fourth Quarter 2024 Earnings
Fourth Quarter 2024 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: Key 2025 Priorities Supporting Our Long-Term Strategic Goals
Key 2025 Priorities Supporting Our Long-Term Strategic Goals Remain flexible to seize opportunities in shifting market trends Truckload - Enhance customer value as we drive meaningful improvements in margin and cash flow • Leverage scale of OTR capacity, trailer network, and brands to drive unique v
Slide 4: Q4 2024 Comparative Results
Q4 2024 Comparative Results Building on improving market trends, disciplined execution will be key for success in 2025 Total Revenue Revenue xFSC Operating Income Adj. Operating Inc. 1 (3.5%) (0.9%) 326.4% 127.0% 1,692 1,677 78 106 In millions 1,932 1,864 In millions 47 18 4Q23 4Q24 4Q23 4Q24 4Q23 4
Slide 5: Q4 2024 Segment Overview
Q4 2024 Segment Overview Modest seasonal strength in Truckload and Logistics offset cost headwinds in LTL segment Revenue Adjusted Op Adjusted Q4 2024 Revenue Diversification xFSC2 Income1 OR1 ~15,800 irregular route and Truckload $1,104.3M $86.0M 92.2% ~6,400 dedicated tractors LTL 17% Less-than- 1
Slide 6: Operating Performance - Truckload
Operating Performance - Truckload Improving truckload market and cost discipline drives margin improvement Truckload Financial Metrics Q4 2024 Q4 2023 Change • Revenue per mile and miles per tractor increased (Dollars in millions) sequentially in Q4 with seasonal project opportunities Revenue xFSC $
Slide 7: Operating Performance - Less-Than-Truckload
Operating Performance - Less-Than-Truckload One system, three brands - investment creates pathway to growth and margin improvement LTL Financial Metrics Q4 2024 Q4 2023 Change • Revenue xFSC increased 20.2% year-over-year driven by 13.3% (Dollars in millions) shipment growth and 9.6% year-over-year
Slide 8: Operating Performance - Logistics
Operating Performance - Logistics Remaining agile in changing market to grow revenue while maintaining margins Logistics Financial Metrics Q4 2024 Q4 2023 Change • 93.7% Adjusted Operating Ratio1 during the quarter, 80 bps (Dollars in millions) improvement from Q3 Revenue ex intersegment $168.0 $164
Slide 9: Operating Performance - Intermodal
Operating Performance - Intermodal Continue path toward profitable growth with a disciplined pricing approach into 2025 Intermodal Financial Metrics Q4 2024 Q4 2023 Change • Operating ratio improved 320 bps year-over-year (Dollars in millions) • Load count up 10.2% year-over-year as we drive diversi
Slide 10: Operating Performance - All Other Segments
Operating Performance - All Other Segments Seasonal slowdown drives dip in Q4 results All Other Financial Metrics Q4 2024 Q4 2023 Change • Revenue decline largely as a result of winding down our (Dollars in millions) third-party insurance program at the end of Q1 2024 Revenue $44.7 $70.3 (36.4 %) •
Slide 11: EPS Guidance
EPS Guidance Expect Adjusted EPS to be in the range of $0.29 - $0.33 in Q1 and $0.46 - $0.50 in Q2 Guidance Assumptions • Revenue seasonally down low-to mid single-digit % sequentially in Q1 and up sequentially mid single-digit % into Q2 Truckload • Operating margins declining modestly sequentially
Slide 12: Appendix
Appendix A KNIGHT-SWIFT
Slide 13: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Operating Income and Adjusted Operating Ratio 1 2 (Unaudited) Quarter Ended December 31, Year-to-Date December 31, 2024 2023 2024 2023 GAAP Presentation (Dollars in thousands) Total revenue $ 1,864,281 $ 1,931,919 $ 7,410,078 $ 7,141,766 Total operating expenses (1,7
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Operating Income 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 do not include the results of o
Slide 15: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Net Income Attributable to Knight-Swift and Adjusted EPS 1 2 (Unaudited) Quarter Ended December 31, Year-to-Date December 31, 2024 2023 2024 2023 (Dollars in thousands, except per share data) GAAP: Net income attributable to Knight-Swift $ 69,497 $ (10,655) $ 117,626
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Net Income Attributable to Knight-Swift and Adjusted EPS 1 2 (Unaudited) Quarter Ended December 31, Year-to-Date December 31, 2024 2023 2024 2023 GAAP: Earnings per diluted share $ 0.43 $ (0.07) $ 0.73 $ 1.34 Adjusted for: Income tax expense attributable to Knight-Sw
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Segment Adjusted Operating Income and Adjusted Operating Ratio 1 (Unaudited) Quarter Ended December 31, Year-to-Date December 31, Truckload Segment 2 2024 2023 2024 2023 GAAP Presentation (Dollars in thousands) Total revenue $ 1,249,533 $ 1,351,970 $ 5,034,941 $ 4,698,655 Tot
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Segment Adjusted Operating Income and Adjusted Operating Ratio 1 (Unaudited) Quarter Ended December 31, Year-to-Date December 31, LTL Segment 2 2024 2023 2024 2023 GAAP Presentation (Dollars in thousands) Total revenue $ 321,535 $ 275,877 $ 1,235,547 $ 1,082,454 Total operati
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Segment Adjusted Operating Income and Adjusted Operating Ratio 1 (Unaudited) Quarter Ended December 31, Year-to-Date December 31, Logistics Segment 2024 2023 2024 2023 GAAP Presentation (Dollars in thousands) Total revenue $ 167,991 $ 164,535 $ 570,001 $ 582,250 Total operati
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation Segment Adjusted Operating Income and Adjusted Operating Ratio 1 (Unaudited) Quarter Ended December 31, Year-to-Date December 31, Intermodal Segment 2024 2023 2024 2023 GAAP Presentation (Dollars in thousands) Total revenue $ 99,040 $ 94,431 $ 387,232 $ 410,549 Total operatin
Knight-Swift Transportation Holdings — Q4 2024 Earnings Presentation on 6ix