Knight-Swift Stock Is Soaring. The Trucker’s Solid Earnings Aren’t Why.

Shares of trucking firm Knight-Swift Transportation are soaring after earnings. The results, however, were good, not great. The reaction says more about the mood of investors than the trucking business or the economy.

It’s a solid quarter. Guidance was actually cut by a nickel. The EPS midpoint for 2023 is now $2.15 from $2.20. Still, the updated full-year guidance implies EPS of about 52 cents a share in the fourth quarter. Wall Street is modeling 47 cents.“Freight demand remains stable at low levels in the truckload market and relatively strong in the less-than-truckload market,” said CEO David Jackson in a news release.

It’s a great move for a good quarter. TD Cown analyst Jason Seidl called the quarter in line and wrote that fourth-quarter guidance was a little better than expectations, but didn’t change his Buy rating or $58 price target.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

SolarEdge, Enphase, Knight-Swift, Intuitive Surgical, AmEx, and More Market MoversSolar stocks tumble after SolarEdge warns about demand in Europe, Knight-Swift Transportation's revenue tops forecasts, Intuitive Surgical's revenue misses,...
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »

Stocks making the biggest moves after hours: SolarEdge, Knight-Swift Transportation and moreThese are the stocks posting the largest moves in extended trading.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Stock Market Today: Tesla Stock Sinks, Netflix Surges and Earnings Deluge ContinuesGovernment bonds sell off again; Netflix stock surges premarket
Fonte: WSJ - 🏆 98. / 63 Consulte Mais informação »