Knight-Swift Earnings: Freight Correction a Headache, but Yellow Diversions a Nice Offset

Diversified trucking and logistics specialist Knight-Swift Transportation’s third-quarter revenue before fuel increased 8% year over year, primarily due to the U.S. Xpress acquisition in July and higher less-than-truckload revenue. But the operating backdrop for the for-hire trucking, intermodal, and brokerage operations remains challenged on scant retailer restocking and the swing to excess truckload market capacity, which has driven a material correction in truckload spot and contract pricing.