The strong beat and accelerating margin improvement in Truckload signal a cyclical recovery is gaining traction. Monitor Q4 guidance execution and peak-season volume trends; the stock may re-rate higher if the 2027 bid cycle delivers further rate growth as management expects.
Price Chart
Executive Summary
Knight-Swift reported a strong Q3 2026 beat, with Adjusted EPS of $0.83 (vs. consensus $0.82) and total revenue of $2.20B (vs. consensus $2.18B). The Truckload segment drove the upside with a 700 bps improvement in Adjusted Operating Ratio to 89.2%, while Q4 guidance of $0.78-$0.84 was roughly in line with the $0.82 consensus. The company is benefiting from a tightening freight market and pricing gains, offsetting cost inflation.
Key Financial Metrics
Key Facts
- Adjusted EPS of $0.83 beat consensus of $0.82 by 1.2%
- Total revenue of $2.20B grew 14.2% YoY, above consensus of $2.18B
- Truckload Adjusted Operating Ratio improved 700 bps YoY to 89.2%
- Q4 2026 Adjusted EPS guidance of $0.78-$0.84 vs consensus $0.82
- Operating cash flow YTD 2026 was $799.9M, up 47.2% YoY
- Free cash flow YTD 2026 was $373.2M
- Net debt of $2.1B as of Sep 30, 2026
Financial Impact
Adjusted EPS beat by $0.01 vs consensus; revenue beat by ~$20M; operating income up 255.1% YoY
Risk Factors
- Fuel cost inflation and driver availability remain headwinds
- LTL segment margins slightly deteriorated YoY (Adjusted OR +80 bps)
- Q4 guidance midpoint of $0.81 is only in line with consensus, limiting upside surprise potential
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001492691-26-000065 |
| Exhibit: exhibit9229302026.htm | 0001492691-26-000065 |
| Document: knx-20261021.htm | 0001492691-26-000065 |
| Document: 0001492691-26-000065-index-headers.html | 0001492691-26-000065 |
| Document: 0001492691-26-000065-index.html | 0001492691-26-000065 |
| Document: 0001492691-26-000065.txt | 0001492691-26-000065 |
| 8-K Data (Synthetic) | 0001492691-26-000065 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Institutional Cluster | $61.21 | awaiting T+5 | — | $63.02 (+2.96%) |
Oct 21, 2026 6d ago | 8-K | $62.52 | awaiting T+5 | — | $63.02 (+0.80%) |
Oct 13, 2026 14d ago | SC 13G | $63.21 $63.20 | ▼ −0.02% | ▼ −0.47% | $63.02 (−0.30%) |
Aug 14, 2026 10w ago | Insider Cluster | $72.42 $71.60 | ▼ −1.13% | ▲ +0.24% | $63.02 (−12.98%) |
Aug 6, 2026 11w ago | 8-K | $69.28 $73.30 | ▲ +5.80% | ▲ +4.59% | $63.02 (−9.04%) |
Jul 31, 2026 12w ago | Insider Cluster | $68.42 $68.67 | ▲ +0.37% | ▼ −1.66% | $63.02 (−7.89%) |
Jun 8, 2026 20w ago | 144 | $80.35 $79.25 | ▲ +1.37% | ▲ +3.78% | $63.02 (+21.57%) |
Jun 4, 2026 20w ago | 8-K | $78.57 $81.54 | ▲ +3.78% | ▲ +3.21% | $63.02 (−19.79%) |
May 13, 2026 23w ago | 8-K | $59.47 $70.73 | ▲ +18.93% | ▲ +19.07% | $63.02 (+5.96%) |
May 8, 2026 24w ago | 8-K | $61.70 $69.01 | ▲ +11.85% | ▲ +11.93% | $63.02 (+2.13%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers