Knight-Swift grappling with tariff-spooked customers in bid season

News Snapshot:

Knight-Swift Transportation lowered its second-quarter outlook on Wednesday and decided against issuing third-quarter guidance as “customers are grappling with a fluid trade policy situation,” resulting in delayed decision making for some while others “manage inventories more tightly.” The Phoenix-based transportation and logistics provider beat first-quarter expectations, reporting adjusted earnings per share of 28 cents, 4 cents better than the consensus estimate and 16 cents higher year over year. However, analysts lowered earnings expectations for trucking companies as the quarter closed and threats around Liberation Day tariffs ramped. Knight-Swift’s (NYSE: KNX) first-quarter result was below management’s guidance range of 29 to...