From Nasdaq:

Knight-Swift Transportation Holdings Inc. (KNX) posted a fourth-quarter 2023 earnings of 9 cents per share, which missed the Zacks Consensus Estimate of 47 cents and declined 91%. However, total revenues of $1,931.9 million outperformed the Zacks Consensus Estimate of $1,922 million and improved 0.5%. Total operating expenses increased 24.2% year over year to $1.91 billion.

The adjusted operating income fell 78.6% year over year. Revenues from Truckload totaled $1,155.72 million, up 25.5% year over year. The Less-Than-Truckload segment generated revenues of $232.08 million, up 13.8% year over year. Revenues from Logistics totaled $164.54 million, down 5% year over year. Intermodal revenues totaled $94.43 million, down 16.4% year over year.

Knight-Swift exited the fourth quarter with cash and cash equivalents of $168.55 million and long-term debt of $1.22 billion. The company expects first-quarter 2024 adjusted earnings per share (EPS) in the range of 37-41 cents and second-quarter 2024 EPS in the range of 53-57 cents. The tax rate is expected to be around 25-26% for 2024. As of now, KNX carries a Zacks Rank #3 (Hold).

J.B. Hunt Transport Services, Inc. (JBHT) posted a fourth-quarter 2023 EPS of $1.47, missing the Zacks Consensus Estimate of $1.74 and down 23.4% year over year. Delta Air Lines (DAL) reported fourth-quarter 2023 EPS of $1.28, beating the Zacks Consensus Estimate of $1.17 but declining 13.51% on a year-over-year basis. United Airlines Holdings, Inc. (UAL) reported fourth-quarter 2023 EPS of $2.00, outpacing the Zacks Consensus Estimate of $1.61 but declined 18.7% year over year.

Operating revenues of $13,626 million beat the Zacks Consensus Estimate of $13,546.8 million. The top line increased 9.9% year over year due to upbeat air-travel demand. Each of the airlines witnessed a decline in year-over-year earnings, attributing to increased labor costs and expenses.



Read more: Knight-Swift (KNX) Q4 Earnings Lag Estimates, Revenue Beat