Knight-Swift Transportation cut earnings expectations by 58% for the first half of the year on Wednesday, citing an oversupplied truck market, poor weather in January and a tough start to bid season.
The company said adjusted earnings per share for the first quarter will range between 11 and 12 cents compared to a 39-cent outlook (at the midpoint of the guidance range) provided in late January. It is calling for adjusted EPS of 26 to 30 cents in the second quarter versus the previous 55-cent...
https://www.freightwaves.com/news/knight-swift-slashes-h1-2024-expectation-by-more-than-half