Knight-Swift Closes 2024 Preparing for Upturn
Revenue Dips 3.5%, but LTL Grows 20%
“We have diligently trimmed costs in our businesses to mitigate margin pressure in the trough,” Miller said on a conference call with investors. (Knight-Swift Transportation Holdings)
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Knight-Swift Transportation Holdings reported a revenue decline of 3.5% in the fourth quarter amid efforts to improve the business ahead of the expected up cycle, the company said Jan. 22.
The Phoenix-based truckload motor carrier posted net income attributable to itself of $69.5 million, or 43 cents a diluted share, for the three months ending Dec. 31. That compared with a loss of $10.7 million, or negative 7 cents, during the same time in 2023. Total revenue declined to $1.86 billion from $1.93 billion.
“As we close the book on 2024, we have more conviction that we are finally moving on from the prolonged down cycle that has weighed on the freight transportation sec…
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