By Connor Hart

Knight-Swift Transportation swung to a profit in the first quarter, though it warned that increased uncertainty stemming from tariffs could hurt future results.

Knight-Swift, the country's biggest operator in the truckload sector, posted net income attributable to the company of $30.6 million, or 19 cents a share, compared with a loss of $2.6 million, or 2 cents a share, a year earlier.

The Phoenix-based trucking company said adjusted earnings came in at 28 cents a share, above the 24 cents that analysts surveyed by FactSet expected.

Revenue edged 0.1% higher to $1.82 billion. Analysts modeled sales of $1.8 billion.

Chief Executive Adam Miller said the company faced weather disruption in January and February, and tariff uncertainty dampened the typical seasonal build in freight activity in March.

"Our customers are grappling with a fluid trade policy situation that is causing some to delay decisions while others manage inventories more tightly out of an abundance of caution," he said. "Some customers are taking action to mitigate tariff exposure while others are taking a wait-and-see approach."

In response, Knight-Swift is having active conversations with customers while simultaneously focusing on what it has the power to control, including disposing of underutilized assets and reducing overhead, Miller said.

The company said it is providing a wider-than-typical outlook range for the second quarter, and that it will not provide a third-quarter outlook, due to uncertainty regarding tariffs.

It lowered its adjusted per-share earnings outlook for the quarter to between 30 cents and 38 cents, from between 46 cents and 50 cents. Analysts are looking for adjusted earnings of 40 cents a share.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 23, 2025 16:35 ET (20:35 GMT)

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