Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $4,674 | $5,998 | $7,429 | $7,142 | $7,410 |
| Gross Profit | $564 | $966 | $1,092 | $338 | $243 |
| Operating Income | $564 | $966 | $1,092 | $338 | $243 |
| Net Income | $410 | $743 | $771 | $217 | $118 |
Over the five-year period, Knight-Swift’s revenue grew substantially from about $4.67 billion in 2020 to roughly $7.43 billion in 2022, reflecting strong market demand in the transportation sector. Gross profit and operating income mirrored this upward trend through 2022, with gross profit rising from $564 million to nearly $1.09 billion and net income nearly doubling from $410 million to $771 million. However, a significant change occurred in 2023 when gross profit and operating income each fell drastically—by roughly 69% compared to 2022—leading to a corresponding drop in net income to about $217 million. The downturn continued into 2024 with further declines in these profitability metrics, even as revenue remained relatively stable. This stark contrast between steady top-line revenue and volatile profitability underscores potential operational or cost structure challenges. The sharp declines in gross profit, operating income, and net income (each exceeding 20% year-over-year in 2023 and 2024) suggest increased cost pressures, reduced efficiency, or possibly a restructuring of expenses that impacted margins. Given that Knight-Swift operates in a capital-intensive industry where fixed costs are significant, these swings highlight vulnerabilities that could affect overall financial sustainability. While the robust revenue base points to stable market positioning, the pronounced earnings volatility warrants closer scrutiny of operational efficiency and cost management to ensure long-term financial health in the competitive transportation market.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.