Earnings results often indicate what direction a company will take in the months ahead. With Q1 now behind us, let’s have a look at Knight-Swift Transportation (NYSE:KNX) and its peers.
The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.
The 14 ground transportation stocks we track reported an ok Q1; on average, revenues beat analyst consensus estimates by 1.1%. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, but ground transportation stocks have performed well, with the share prices up 11.8% on average since the previous earnings results.
Knight-Swift Transportation (NYSE:KNX) Covering 1.6 billion loaded miles in 2023 alone, Knight-Swift Transportation (NYSE:KNX) offers less-than-truckload and full truckload delivery services.
Knight-Swift Transportation reported revenues of $1.82 billion, up 11.3% year on year, in line with analysts' expectations. Overall, it was an ok quarter for the company with an impressive beat of analysts' volume estimates but a miss of analysts' earnings estimates.
The stock is up 5.5% since reporting and currently trades at $51.15.
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Best Q1: Universal Logistics (NASDAQ:ULH) Universal Logistics Holdings, Inc. (NASDAQ:ULH) is a provider of customized transportation and logistics solutions operating throughout the United States and in Mexico, Canada, and Colombia.
Universal Logistics reported revenues of $491.9 million, up 12.5% year on year, outperforming analysts' expectations by 18.1%. It was an incredible quarter for the company with an impressive beat of analysts' earnings estimates.
Universal Logistics scored the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 40.6% since reporting. It currently trades at $45.92.
Weakest Q1: U-Haul (NYSE:UHAL) Founded by a husband and wife, U-Haul (NYSE:UHAL) offers truck and trailer rentals and self storage units.
U-Haul reported revenues of $1.10 billion, down 7.8% year on year, falling short of analysts' expectations by 6.1%. It was a weak quarter for the company with a miss of analysts' earnings estimates.
U-Haul had the weakest performance against analyst estimates in the group. Interestingly, the stock is up 5.5% since the results and currently trades at $66.32.
Landstar (NASDAQ:LSTR) Covering billions of miles throughout North America, Landstar (NASDAQ:LSTR) is a transportation company specializing in freight and last-mile delivery services.
Landstar reported revenues of $1.17 billion, down 18.3% year on year, surpassing analysts' expectations by 4.7%. Zooming out, it was an exceptional quarter for the company with an impressive beat of analysts' Van Equipment revenue estimates and a decent beat of analysts' earnings estimates.
The stock is up 6.2% since reporting and currently trades at $181.36.
Saia (NASDAQ:SAIA) After realizing that there was more success in delivering produce rather than selling it, Saia (NASDAQ:SAIA) makes less-than-truckload deliveries in the United States.
Saia reported revenues of $754.8 million, up 14.3% year on year, falling short of analysts' expectations by 2.2%. Taking a step back, it was a weak quarter for the company with a miss of analysts' volume and earnings estimates.
Saia scored the fastest revenue growth among its peers. The stock is down 11% since reporting and currently trades at $483.74.
This content was originally published on Stock Story
