Last10K.com

Knightswift Transportation Holdings Inc. (KNX) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Knightswift Transportation Holdings Inc.

CIK: 1492691 Ticker: KNX
 
 
Exhibit 99.1


knightswift01.jpg
January 30, 2018
Phoenix, Arizona
Knight-Swift Transportation Holdings Inc. Reports Fourth Quarter 2017 Revenue and Earnings

Knight-Swift Transportation Holdings Inc. (NYSE: KNX) ("Knight-Swift"), North America’s largest truckload transportation company, today reported revenue and net income for the quarter ended December 31, 2017.
Key Financial Highlights
 
Quarter Ended December 31,
 
Year Ended December 31,
 
2017 (1)
 
2016
 
Change
 
2017 (1)
 
2016
 
Change
 
(Dollars in thousands, except per share data)
Total revenue
$
1,359,420

 
$
289,098

 
370.2
%
 
$
2,425,453

 
$
1,118,034

 
116.9
%
Revenue before fuel surcharge
$
1,218,188

 
$
264,464

 
360.6
%
 
$
2,179,873

 
$
1,028,148

 
112.0
%
Operating income
$
143,771

 
$
34,736

 
313.9
%
 
$
200,630

 
$
148,479

 
35.1
%
Non-GAAP: Adjusted Operating Income (2)
$
156,112

 
$
37,186

 
319.8
%
 
$
255,358

 
$
150,929

 
69.2
%
Net income attributable to Knight-Swift
$
447,564

 
$
22,161

 
1,919.6
%
 
$
484,292

 
$
93,863

 
416.0
%
Non-GAAP: Adjusted Net Income Attributable to Knight-Swift (2)
$
94,002

 
$
23,671

 
297.1
%
 
$
154,565

 
$
95,373

 
62.1
%
Earnings per diluted share
$
2.50

 
$
0.27

 
825.9
%
 
$
4.34

 
$
1.16

 
274.1
%
Non-GAAP: Adjusted Earnings per Diluted Share (2)
$
0.52

 
$
0.29

 
79.3
%
 
$
1.38

 
$
1.17

 
17.9
%
_________________
(1)
The reported results do not include the results of operations of Swift Transportation Company (Swift) and its subsidiaries on or prior to the merger with Knight Transportation, Inc. (Knight) on September 8, 2017 (the 2017 Merger) in accordance with the accounting treatment applicable to the transaction.
(2)
See GAAP to non-GAAP reconciliation in the schedules following this release.

The company previously announced a quarterly cash dividend of $0.06 per share to stockholders of record on December 1, 2017, which was paid to stockholders on December 27, 2017.
Earnings per diluted share for the quarter ended December 31, 2017 were $2.50. Included in the results for the fourth quarter is an income tax benefit of $364.2 million representing management's estimate of the net impact of the Tax Cuts and Jobs Act enacted during the quarter. Also included in the results for the quarter are $10.3 million ($6.5 million after-tax) of amortization expense related to the intangible assets recorded in the 2017 Merger and a $1.9 million ($1.2 million after-tax) charge for legal reserves related to settlement of certain class action lawsuits for Knight. Excluding these special items, Adjusted Earnings per Diluted Share for the fourth quarter were $0.52. Reported results include the results of Swift after the September 8, 2017 merger date; accordingly, comparisons to prior periods are not meaningful.

knightswift01.jpg
1

The following information was filed by Knightswift Transportation Holdings Inc. (KNX) on Tuesday, January 30, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Knightswift Transportation Holdings Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Knightswift Transportation Holdings Inc..

Continue

Assess how Knightswift Transportation Holdings Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Knightswift Transportation Holdings Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Income Statements
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Accounts Receivable Securitization
Accounts Receivable Securitization (detail)
Accounts Receivable Securitization (tables)
Accrued Payroll And Purchased Transportation And Accrued Liabilities
Accrued Payroll And Purchased Transportation And Accrued Liabilities (accrued Liabilities) (details)
Accrued Payroll And Purchased Transportation And Accrued Liabilities (tables)
Accrued Payroll And Purchased Transportation And Accrued Liabilities Accrued Payroll And Purchased Transportation And Accrued Liabilities (accrued Payroll And Purchased Transportation) (details)
Assets Held For Sale
Assets Held For Sale (narrative) (detail)
Claims Accruals
Claims Accruals (details)
Claims Accruals (tables)
Contingencies And Legal Proceedings
Contingencies And Legal Proceedings (detail)
Contingencies And Legal Proceedings (tables)
Contingencies And Legal Proceedings Contingencies And Legal Proceedings (self Insurance) (details)
Debt And Financing
Debt And Financing (narrative) (details)
Debt And Financing (tables)
Debt And Financing Schedule Of Debt Balances By Instrument (details)
Debt And Financing Schedule Of Debt Terms (details)
Fair Value Measurement
Fair Value Measurement (carrying Amounts And Estimated Fair Values Of Financial Instruments) (detail)
Fair Value Measurement (tables)
Fair Value Measurement - Nonrecurring Basis (detail)
Fair Value Measurement - Recurring Basis (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets Finite-lived Intangible Assets Amortization Expense (details)
Goodwill And Other Intangible Assets Schedule Of Goodwill (details)
Goodwill And Other Intangible Assets Schedule Of Intangible Assets, Net (details)
Income Taxes
Income Taxes (components Of Net Deferred Tax Asset (liability) ) (detail)
Income Taxes (income Tax Expense (benefit) ) (detail)
Income Taxes (narrative) (detail)
Income Taxes (reconciliation Of Unrecognized Tax Benefits) (detail)
Income Taxes (schedule Of Effective Income Tax Rate Reconciliation) (detail)
Income Taxes (tables)
Income Taxes Income Taxes Other (narrative) (details)
Information By Geography (narrative) (detail)
Information By Segment (summary Of Financial Information By Segments) (detail)
Information By Segment, Geography, And Customer Concentration
Information By Segment, Geography, And Customer Concentration (tables)
Information By Segment, Geography, And Customer Concentration Information By Customer Concentration (details)
Information By Segment, Geography, And Customer Concentration Information By Segment, Geography, And Customer Concentration (segment Descriptions) (details)
Introduction And Basis Of Presentation
Introduction And Basis Of Presentation (description Of Business) (details)
Introduction And Basis Of Presentation (policies)
Introduction And Basis Of Presentation Introduction And Basis Of Presentation (2017 Merger) (details)
Introduction And Basis Of Presentation Introduction And Basis Of Presentation (basis Of Presentation) (details)
Leases
Leases (detail)
Leases (tables)
Marketable Securities Marketable Securities
Marketable Securities Marketable Securities (details)
Marketable Securities Marketable Securities (tables)
Merger And Purchase Price Allocation Merger And Purchase Price Allocation
Merger And Purchase Price Allocation Merger And Purchase Price Allocation (2017 Merger - Allocation Of Purchase Consideration) (details)
Merger And Purchase Price Allocation Merger And Purchase Price Allocation (2017 Merger - Fair Value Consideration Transferred) (details)
Merger And Purchase Price Allocation Merger And Purchase Price Allocation (2017 Merger Intangible Assets) (details)
Merger And Purchase Price Allocation Merger And Purchase Price Allocation (2017 Merger Pro-forma Information) (details)
Merger And Purchase Price Allocation Merger And Purchase Price Allocation (tables)
Merger And Purchase Price Allocation Merger And Purchase Price Allocation - Narrative (details)
Notes Receivable, Net
Notes Receivable, Net (schedule Of Notes Receivable) (details)
Notes Receivable, Net (tables)
Notes Receivable, Net Notes Receivable (scheduled Of Allowance For Doubtful Accounts) (details)
Purchase Commitments
Purchase Commitments (details)
Quarterly Result Of Operations (unaudited)
Quarterly Result Of Operations (unaudited) (details)
Quarterly Result Of Operations (unaudited) (tables)
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements (details)
Recently Issued Accounting Pronouncements (tables)
Related Party Transactions
Related Party Transactions (schedule Of Services Received And Provided By Company) (detail)
Related Party Transactions (tables)
Related Party Transactions Jerry Moyes' Retirement (details)
Restricted Investments
Restricted Investments (detail)
Restricted Investments (tables)
Share Repurchase Program
Share Repurchase Program (details)
Stock-based Compensation
Stock-based Compensation (compensation Costs Not Yet Recognized) (details)
Stock-based Compensation (narrative) (detail)
Stock-based Compensation (restricted Stock Award Grant) (details)
Stock-based Compensation (rollforward Of Nonvested Performance Shares) (details)
Stock-based Compensation (status Of Nonvested Stock Options) (details)
Stock-based Compensation (stock-based Compensation Expense) (detail)
Stock-based Compensation (summary Of Activity Related To Stock Options) (detail)
Stock-based Compensation (summary Of Exercise Of Stock Options) (detail)
Stock-based Compensation (tables)
Stock-based Compensation (weighted Average Assumptions) (detail)
Stock-based Compensation Stock-based Compensation (2017 Merger Impact) (details)
Stock-based Compensation Stock-based Compensation (performance Unit Fair Value Assumptions) (details)
Stock-based Compensation Stock-based Compensation (rollforward Of Nonvested Restricted Stock Awards) (details)
Stock-based Compensation Stock-based Compensation Expense (stock Awards Granted) (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Trade Receivables, Net
Trade Receivables, Net (schedule Of Trade Receivables) (details)
Trade Receivables, Net (tables)
Trade Receivables, Net Trade Receivables, Net (rollforward Of The Allowance For Doubtful Accounts For Trade Receivables) (details)
Transportation Resource Partners Transportation Resource Partners
Transportation Resource Partners Transportation Resource Partners (carrying Value) (details)
Transportation Resource Partners Transportation Resource Partners (investments And Commitments) (details)
Transportation Resource Partners Transportation Resource Partners (tables)
Weighted Average Shares Outstanding
Weighted Average Shares Outstanding (calculation Of Basic And Diluted Earnings Per Share Attributable To Stockholders) (detail)
Weighted Average Shares Outstanding (tables)
Ticker: KNX
CIK: 1492691
Form Type: 10-K Annual Report
Accession Number: 0001492691-18-000017
Submitted to the SEC: Thu Mar 01 2018 1:04:10 PM EST
Accepted by the SEC: Thu Mar 01 2018
Period: Sunday, December 31, 2017
Industry: Trucking No Local

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/knx/0001492691-18-000017.htm