Knightswift Transportation Holdings Inc. (KNX) 10-K Annual Report Thu Mar 01 2018

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.



		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.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Knightswift Transportation Holdings Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.39: Material Contract

Exhibit 10.40: Material Contract

Exhibit 10.41: Material Contract

Exhibit 10.42: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

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

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

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