Knight-Swift Transportation Holdings Inc. reported a total revenue of $1.86 billion for the second quarter of 2025, a slight increase from $1.85 billion in the same period last year. Year-to-date revenue also saw a modest rise, reaching $3.69 billion compared to $3.67 billion in 2024. The company’s net income attributable to Knight-Swift surged to $34.2 million for the quarter, up from $20.3 million a year earlier, while year-to-date net income increased to $64.9 million from $17.7 million. Earnings per diluted share improved to $0.21, compared to $0.13 in the prior year.
The financial performance reflects a significant operational shift, particularly in the Truckload segment, which reported an operating income of $45.4 million, a notable increase from $23.5 million in the previous year. This improvement was attributed to a 2.6% reduction in adjusted operating expenses per mile. However, the LTL segment experienced challenges, with operating income dropping to $18.3 million from $33.0 million, primarily due to start-up costs and integration expenses related to the recent acquisition of Dependable Highway Express (DHE).
Strategically, Knight-Swift has been expanding its operations, particularly in the LTL market, where it opened ten new locations in the first half of 2025. The company’s average tractor count in the LTL segment rose to 4,108, up from 3,393 a year earlier, reflecting its commitment to enhancing service capacity. The Logistics segment also reported a revenue increase of 4.4% year-over-year, driven by a rise in revenue per load, although load counts declined. The Intermodal segment faced a decrease in revenue and load counts, leading to an operating loss of $3.4 million.
Looking ahead, Knight-Swift anticipates continued growth in its Truckload and LTL segments, with projected revenue growth of 20% to 25% year-over-year in the LTL segment for the third quarter. The company expects to improve its adjusted operating ratio by 100 to 200 basis points as it implements cost initiatives and leverages operational efficiencies. Despite the challenges posed by market conditions, Knight-Swift remains optimistic about its ability to navigate the evolving landscape and capitalize on future opportunities.
About Knight-Swift Transportation Holdings Inc.
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