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Knight-Swift Transportation Holdings (KNX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Knight-Swift Transportation Holdings (KNX) Q3 2026 earnings results →
Q3 2026 Revenue up 14% year over year to $2.2B · 5¢ of every $1 of revenue kept as net profit · operating margin 8.1%
Knight-Swift Transportation Holdings made $2.2B in Q3 2026 (+14% Y/Y): Revenue, excluding truckload and LTL fuel surcharge $1.9B, Truckload and LTL fuel surcharge $348M. Operating margin 8.1%, net earnings $118M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
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What changed this quarter
Revenue was $2.2B in Q3 2026, up 14% year over year and up 5% from the previous quarter. Revenue, excluding truckload and LTL fuel surcharge was the largest line at 84% of revenue. Truckload and LTL fuel surcharge added $0.14B year over year (up 69%), 52% of the total change.
Operating profit was $0.18B, a 8.1% margin (up 5.5 points year over year). Of the extra revenue versus Q3 2025, 47% reached operating profit, above the 3% margin then. Total costs grew 8% against revenue growth of 14%. Net earnings were $0.12B, up 1404% year over year. The effective tax rate was 27.4%.
Operating cash flow was $0.35B (up 61% year over year), 296% of net earnings. Non-cash charges added back $0.20B of depreciation and amortization. Working capital and other items added $0.03B. Capital expenditures of $0.24B left free cash flow of $0.11B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $2.2B | +14% | 8.1% | $118M | $350M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $2.1B | +13% | 5.0% | $43.1M | $308M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $1.9B | +1% | 1.5% | −$1.4M | $143M |
| Q4 2025 | 10-K | Feb 19, 2026 | $1.9B | -0.4% | 1.4% | −$6.9M | $723M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $1.9B | +3% | 2.6% | $8.3M | $218M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $1.9B | +0.8% | 3.9% | $33.9M | $216M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $1.8B | +0.1% | 3.7% | $30.2M | $109M |
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About Knight-Swift Transportation Holdings
Knight-Swift is a transportation solutions provider, headquartered in Phoenix, Arizona. During the quarter ended March 31, 2026, the Company operated an average of 21,027 tractors (comprised of 19,017 company tractors and 2,010 independent contractor tractors) and 82,288 trailers within the Truckload segment and leasing activities within the All Other Segments. The LTL segment operated an average of 4,239 tractors and 11,281 trailers. Additionally, the Intermodal segment operated an average of 595 tractors and 12,511 intermodal containers. As of March 31, 2026, the Company's four reportable segments were Truckload, LTL, Logistics, and Intermodal.
In its own words, from its 10-Q, filed Apr 29, 2026.
Knight-Swift Transportation Holdings against its Trucking (No Local) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +16%. Operating margin: 8.1% against the peers' median 6.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| KNX Knight-Swift Transportation Holdings | Q3 2026 | $2.2B | +14% | 8.1% |
| JBHT Hunt J B Transport Services | Q3 2026 | $3.7B | +20% | 6.7% |
| ODFL Old Dominion Freight Line | Q3 2026 | $1.6B | +13% | 28.5% |
| SNDR Schneider National | Q3 2026 | $1.6B | +9% | 3.9% |
| LSTR Landstar System | Q3 2026 | $1.5B | +25% | 4.3% |
| ARCB Arcbest | Q3 2026 | $1.2B | +16% | 6.1% |
| SAIA Saia | Q3 2026 | $982M | +17% | 12.4% |
| WERN Werner Enterprises | Q3 2026 | $951M | +23% | 1.8% |
| ULH Universal Logistics Holdings | Q3 2026 | $394M | -0.7% | 8.3% |
Source: Knight-Swift Transportation Holdings 10-Q on SEC EDGAR · CIK 1492691 · Trucking (No Local)
Guidance and outlook
13F: who owns KNX and who is buying
More on KNX
- How Knight-Swift Transportation Holdings makes money: revenue by segment
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- Who owns Knight-Swift Transportation Holdings stock: holders, funds and Congress trades
- Knight-Swift Transportation Holdings guidance and outlook
- Is Knight-Swift Transportation Holdings a takeover target? LBO and rumors
- Knight-Swift Transportation Holdings recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Knight-Swift Transportation Holdings guidance history: guided vs reported
- Knight-Swift Transportation Holdings operating margin by quarter
- Knight-Swift Transportation Holdings net income by quarter
- Knight-Swift Transportation Holdings free cash flow by quarter
- Knight-Swift Transportation Holdings capital expenditures by quarter
- Knight-Swift Transportation Holdings Revenue, excluding truckload and LTL fuel surcharge revenue by quarter
- Knight-Swift Transportation Holdings Truckload and LTL fuel surcharge revenue by quarter
Compare KNX with
- Knight-Swift Transportation Holdings vs Hunt J B Transport Services (KNX vs JBHT)
- Knight-Swift Transportation Holdings vs Old Dominion Freight Line (KNX vs ODFL)
- Knight-Swift Transportation Holdings vs Schneider National (KNX vs SNDR)
- Knight-Swift Transportation Holdings vs Landstar System (KNX vs LSTR)