# Knight-Swift Q3 2026 Earnings Report

> Knight-Swift reports strong Q3 2026 earnings with improved Truckload margins and Intermodal growth amid market tightening.
- Title: Knight-Swift Q3 2026 Earnings Report · The Motley Fool
- Summary: Knight-Swift reports strong Q3 2026 earnings with improved Truckload margins and Intermodal growth amid market tightening. Knight-Swift's Q3 2026 earnings…
- Keywords: knight-swift, q3 2026, truckload, intermodal, logistics, earnings, revenue, adjusted eps, operating ratio, freight market, finance, money
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/10/21/knight-swift-knx-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-10-22T01:09:01+00:00
- Read time: 1 min
- Topics: knight-swift, q3 2026, truckload, intermodal, logistics, earnings, revenue, adjusted eps, operating ratio, freight market, finance, money
## Q3 2026 Results
Knight-Swift reported third quarter results with $2.2 billion revenue, a 14.2% year-over-year increase.
## Truckload Performance
Truckload revenue per loaded mile increased 9.7% year over year, with margins approaching pre-crisis levels.
## Intermodal Growth
Intermodal load count reached 40,090, the highest quarterly volume in over five years.
## Logistics Margin Recovery
Logistics gross margin improved 350 basis points to 18.9% year over year.
## Truckload Margin Recovery
68% of Truckload rate improvements flowed through to margin, up from 50% in Q2.
## Driver Training Expansion
Knight-Swift operates 12 CDL academies and increased driver training capacity to support market demand.
## Q4 Guidance
Q4 2026 adjusted EPS projected at $0.78-$0.84 with stable demand expectations.
## All Other Segments
All Other Segments revenue grew 41.8% year over year to $126.0 million.
## Cost Management
Truckload cost per mile remained stable between 3.3% and 3.8% despite inflationary pressures.
## Market Conditions
Freight market tightened due to noncompliant carriers exiting the industry and capacity shifts.
## Q4 Outlook
All Other Segments expected to report operating loss in Q4 due to seasonal slowdown.
## Driver Market
Driver pay and fuel represent the most acute cost pressures for the company.
## Network Efficiency
Miles per seated tractor increased 2.7% year over year as the company focused on utilization.
## LTL Performance
LTL revenue grew 0.4% year over year with higher revenue per shipment offset by lower daily shipments.
## Q4 Capital Expenditures
Full-year net capital expenditures guided at $600 million to $625 million for tractor and trailer replacements.
## Q4 Outlook
Truckload profits expected to improve sequentially while LTL and warehousing face seasonal declines.
## Key takeaway

Knight-Swift's Q3 2026 earnings show $2.2 billion revenue up 14.2% year over year with Truckload margins recovering after market supply contraction.