Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Q3 2024 Earnings Conference Call October 23, 2024 5:30 PM ET
Company Participants
Brad Stewart - Treasurer, SVP, IR
Adam Miller - CEO
Andrew Hess - CFO
Conference Call Participants
Jonathan Chappell - Evercore ISI
Tom Wadewitz - UBS
Daniel Imbro - Stephens, Inc.
Ravi Shanker - Morgan Stanley
Scott Group - Wolfe Research
Ken Hoexter - Bank of America
Chris Wetherbee - Wells Fargo
Brian Ossenbeck - JPMorgan
Eric Morgan - Barclays
Bascome Majors - Susquehanna
Operator
Good morning. My name is Chloe and I will be your conference operator today. At this time, I would like to welcome everyone to the Knight-Swift Transportation Third Quarter 2024 Earnings Call. All lines have been placed on mute to prevent any background noise. [Operator Instructions]
Speakers from today's call will be Adam Miller, Chief Executive Officer; Andrew Hess, Chief Financial Officer; and Brad Stewart, Treasurer and Senior VP of Investor Relations.
Mr. Stewart, the meeting is now yours.
Brad Stewart
Thank you. Good afternoon everyone and thank you for joining our third quarter 2024 earnings call. Today, we plan to discuss topics related to the results of the quarter, current market conditions, and our earnings guidance. We have slides to accompany this call, which are posted on our Investor website.
Our call is scheduled to last one hour. Following our commentary, we will answer questions related to these topics. In order to get to as many participants as possible, we limit the questions to one per participant. If you have a second question, please feel free to get back in the queue. We will answer many questions as time allows. If we are not able to get to your question due to time restrictions, you may call 602-606-6349.
To begin, I will first refer you to the disclosures on Slide 2 of the presentation and note the following. This conference call and presentation may contain forward-looking statements made by the company that involve risks, assumptions, and uncertainties that are difficult to predict.
Investors are directed to the information contained in Item 1A, Risk Factors or Part 1 of the company's Annual Report on Form 10-K filed with the United States SEC for a discussion of the risks that may affect the company's future operating results. Actual results may differ.
Now, I will turn to our overview on Slide 3. The charts on Slide 3 compare our consolidated third quarter revenue and earnings results on a year-over-year basis. Revenue, excluding fuel surcharge, decreased 5.3% and our adjusted operating income declined by 7.1% year-over-year as we lapped the acquisition of U.S. Xpress at the beginning of the quarter.