Knight-Swift Transportation Holdings (KNX) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Knight-Swift published the results on October 21, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Knight-Swift reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Knight-Swift's total revenue includes truckload and LTL fuel surcharge. Its segment revenue rows are shown before intersegment eliminations, which the release reports as a separate line.
• From January 1, 2026, the cost of Knight-Swift's accounts receivable securitization program ($6.3 million in Q3 2026) is in operating expenses under All Other Segments. It was reported in interest expense before 2026.

Source: Knight-Swift Q3 2026 results, October 21, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Knight-Swift splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Knight-Swift's Truckload revenue was $1.4 billion in Q3 2026, up 14% from $1.2 billion in Q3 2025, 64% of total revenue.
• Knight-Swift's LTL revenue was $435 million in Q3 2026, up 10% from $395 million in Q3 2025, 20% of total revenue.
• Knight-Swift's Logistics revenue was $139 million in Q3 2026, down 1% from $140 million in Q3 2025, 6% of total revenue.
• Knight-Swift's Intermodal revenue was $123 million in Q3 2026, up 31% from $94.1 million in Q3 2025, 6% of total revenue.
• Knight-Swift's All Other Segments revenue was $126 million in Q3 2026, up 42% from $88.9 million in Q3 2025, 6% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Knight-Swift guided Adjusted EPS of $0.78 to $0.84 for Q4 2026 and gives no GAAP EPS range.

In its Q3 2026 release, Knight-Swift said:

“In general, this guidance for the fourth quarter assumes current conditions continue with pressured capacity and stable demand and that we experience typical seasonal demand patterns in the truckload and LTL markets.”

“Truckload Segment revenue, excluding fuel surcharge, up low double-digit percent with Adjusted Operating Ratio improving 650-750 basis points year-over-year in fourth quarter.”

“LTL Segment revenue, excluding fuel surcharge, up high single to low double-digit percent with Adjusted Operating Ratio improving 100-200 basis points year-over-year in fourth quarter.”

“Intermodal Segment revenue up 25%-30% with Adjusted Operating Ratio improving 150-250 basis points year-over-year in fourth quarter.”

Source: Knight-Swift Q3 2026 release, Oct 21, 2026.

This is the company's own guidance as of Oct 21, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the KNX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenue and GAAP diluted EPS, each as first reported in that quarter's release. Knight-Swift reports in thousands; figures here are in millions.

Knight-Swift's next report is expected around January 20, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 21, 2026

Knight-Swift operates the largest full truckload fleet in North America and reports Truckload, LTL, Logistics and Intermodal segments plus All Other Segments. Q3 2026 total revenue was $2.2 billion, up 14.2%, while revenue excluding truckload and LTL fuel surcharge grew 7.7% to $1,852.8 million. Measured on revenue excluding fuel surcharge, Truckload was 61% of the mix (over-the-road 45%, dedicated 16%) and LTL 18%. (Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026; Knight-Swift Q3 2026 earnings presentation (Exhibit 99.2), Oct 21, 2026)

Truckload revenue, excluding fuel surcharge and intersegment transactions, grew 6.5% to $1,154.9 million, which Knight-Swift called its strongest organic growth in over four years. Revenue per loaded mile rose 9.7% and loaded miles fell 3.0%. The segment runs about 14,500 irregular route tractors and nearly 5,900 dedicated tractors, and over-the-road revenue per loaded mile rose mid-teens percent. (Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026; Knight-Swift Q3 2026 earnings presentation (Exhibit 99.2), Oct 21, 2026)

LTL revenue excluding fuel surcharge rose 0.4% to $341.7 million. Revenue per shipment rose 4.0% while LTL shipments per day fell 1.4%, and daily tonnage grew 3.3% on a 4.8% increase in weight per shipment and a 6.2% longer length of haul, as the network moves from a regional base to a national profile. (Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026; Knight-Swift Q3 2026 earnings presentation (Exhibit 99.2), Oct 21, 2026)

Intermodal revenue grew 30.6% to $122.9 million on a 13.3% increase in load count and a 15.2% increase in revenue per load (5.5% excluding fuel surcharge). Logistics revenue fell 1.0% to $139.0 million as a 46.7% increase in revenue per load was offset by a 32.6% decline in load count. All Other Segments revenue rose 41.8%, driven by warehousing and independent contractor support services. (Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026; Knight-Swift Q3 2026 earnings presentation (Exhibit 99.2), Oct 21, 2026)

Knight-Swift's revenue is concentrated among large shippers. Its largest customer generated 13.1% of total revenue in 2025, and the top 25, top 10 and top 5 customers accounted for 49.3%, 34.8% and 25.6%. (Knight-Swift Form 10-K, 2025, Feb 19, 2026)

Knight-Swift's GAAP diluted EPS was $0.72 in Q3 2026 against $0.05 a year earlier, and Adjusted EPS was $0.83 against $0.32. Adjusted EPS adds back $0.11 of intangible amortization and $0.01 of legal accruals and loss contingencies, then deducts tax at the effective rate. The year-ago GAAP result carried $34.8 million of impairment charges, mainly from combining the LTL brands under one trade name, and an $11.2 million loss contingency. (Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026)

Interest expense fell $22.8 million to $18.2 million from $40.9 million because of lower average debt balances, lower average interest rates under the 2031 Notes, and the move of $6.3 million of accounts receivable securitization costs into operating expenses. The 2031 Notes are $1.5 billion of 1.0% convertible bonds due November 2031, issued on May 8, 2026. (Knight-Swift Form 10-Q, Q3 2026, Oct 28, 2026; Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026)

The effective tax rate on GAAP results was 27.4%, against 47.0% in Q3 2025, and 25.6% on non-GAAP results, against 29.6%. The 10-Q attributes the change to higher pre-tax income and a decrease in deferred tax expense related to the merger of certain subsidiaries. Diluted shares were 163,300 thousand, against 162,647 thousand. (Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026; Knight-Swift Form 10-Q, Q3 2026, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Knight-Swift guides Adjusted EPS one quarter ahead in its release and gives no GAAP equivalent. For Q4 2026 it expects Adjusted EPS of $0.78 to $0.84, assuming pressured capacity, stable demand and typical seasonal patterns, with Truckload revenue excluding fuel surcharge up low double-digit percent and its Adjusted Operating Ratio improving 650 to 750 basis points year over year. (Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026)

The other Q4 2026 assumptions are LTL revenue up high single to low double-digit percent, flat Logistics revenue, Intermodal revenue up 25% to 30%, a gain on sale of $17 million to $21 million and an adjusted tax rate of 24.7% to 25.7%. Full-year 2026 net cash capital expenditures are expected at $600 million to $625 million, narrowed from $600 million to $650 million. (Knight-Swift Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 21, 2026)

A consensus figure is the average of the models published by the analysts who cover Knight-Swift, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Knight-Swift's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning KNX is on is KNX a buy or a sell?, what analysts expect next is on the KNX forecast, and what the company does is on the Knight-Swift Transportation Holdings (KNX) stock page.

Every number on this page can be traced to a document Knight-Swift published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.