Top US Trucker overcomes pricey fuel, weak demand to beat Wall Street estimates

Shares of Knight-Swift Transportation, the fourth-largest trucking company in the US, experienced a significant increase in after-hours trading. The company surpassed Wall Street expectations, reporting earnings of 41 cents per share on $2 billion in sales for the third quarter of the year. This strong performance occurred in the face of challenges, including “soft demand” in the freight business and a “sustained increase in fuel prices,” with diesel prices rising approximately 30% since the start of July. Despite these headwinds, the company’s stock rose by as much as 15% after the market closed.