KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC. Disclosure
This presentation, including documents incorporated herein by reference, will contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Please review our disclosures in filings with the United States Securities and Exchange Commission.
Non-GAAP Financial Data
This presentation includes the use of adjusted operating income, operating ratio, adjusted operating ratio, net income, adjusted earnings per share, adjusted pre-tax income, return on net tangible assets, available liquidity, and free cash flow, which are financial measures that are not in accordance with United States generally accepted accounting principles ("GAAP"). Each such measure is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors and lenders. While management believes such measures are useful for investors, they should not be used as a replacement for financial measures that are in accordance with GAAP. In addition, our use of these non-GAAP measures should not be interpreted as indicating that these or similar items could not occur in future periods. In addition, adjusted operating ratio excludes truckload segment fuel surcharges from revenue and nets these surcharges against fuel expense.
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KNX Overview
Truckload | Less-than-Truckload1 | |||||||||||
Q4 2021 | FY 2021 | Q4 2021 | FY 2021 | |||||||||
Revenue xFSR 2 | $ | 992.7M | $ | 3,681.3M | Revenue xFSR | $ | 177.9M $ | 828.3M | ||||
Adjusted Op Income | $ | 251.3M | $ | 785.8M | Adjusted Op Income | $ | 17.3M | |||||
Adjusted OR | 74.7 % | 78.7 % | Adjusted OR | 90.3 % | ||||||||
~ 13,200 irregular and 4,800 dedicated tractors | - Approximately 100 Service Centers | |||||||||||
~ 70,000 trailers 3 | - Terminal door count over 4,200 |
Intermodal | Logistics | |||||||||||
Q4 2021 | FY 2021 | Q4 2021 | FY 2021 | |||||||||
Revenue 2 | $ | 123.6M | $ | 458.6M | Revenue 2 | $ | 299.4M | $ | 798.7M | |||
Adjusted Op Income | $ | 23.2M | $ | 42.1M | Adjusted Op Income | $ | 45.2M | $ | 94.7M | |||
Adjusted OR | 81.2 % | 90.8 % | Adjusted OR | 84.9 % | 88.1 % |
~ 600 tractors, 11,000 containers
-
LTL YTD Revenue includes proforma results of ACT prior to the July 5th acquisition, and MME prior to the December 6th acquisition
2 Excludes intersegment transactions
3 Includes 7,791 trailers related to leasing activities recorded within our non-reportable operating segments for the fourth quarter of 2021
YTD Revenue Diversification
LTL 1
14%
Truckload 61%
Logistics
13%
Other 4% | Intermodal 8% |
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Growing
Shareholder
Value
Strong Free
FY '21 FCF of $908M (2)Cash Flow Cash conversion ratio of 1.2 (1)
$1.5B FY '21
Eleos February 2021
UTXL June 2021
-
Cooper July 2021
Multiple MME December 2021
Acquisitions
$57M FY '21
Stock $503M since the merger Repurchase
Full year organic revenue
growth of $712M from prior year Meaningful Organic Growth
21.1% FY '21 (2)
Shareholder
Value
Increasing
Dividends
Return on
Net Tangible
Assets
$64M paid out FY '21 in dividends $218M since the merger
Increased quarterly dividend 25% in 2021
- Defined as YTD Free Cash Flow / YTD Adjusted Net Income
- See GAAP to non-GAAP reconciliation in the schedules following this presentation.
Post Merger Trends
Substantial improvement in earnings as a result of significant margin improvements at Swift, growth in our Logistics business, development in new businesses, and investment in an LTL network
Full Year Adjusted Operating Income 1 2
$1,250M
$1,000M
$750M
Rolling 4 Quarter Adjusted EPS 1
$5.00
$4.00
$3.00
$500M | |
$250M | |
$0M | |
2017 | 2018 |
2019 | 2020 | 2021 |
$2.00
$1.00
$0.00
Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
2018 | 2018 | 2019 2019 | 2019 | 2019 2020 | 2020 | 2020 2020 | 2021 2021 | 2021 | 2021 |
Trucking | Intermodal | Logistics | |||
LTL | Non-Reportable | ||||
- See GAAP to non-GAAP reconciliation in the schedules following this presentation.
- 2017 Pro forma historical information includes the results of Swift prior to the 2017 merger. This information has not been prepared in accordance with the rules of the Securities and Exchange Commission, including Article 11 of Regulation S-X, and it therefore does not reflect any of the pro forma adjustments that would be required by Article 11 of Regulation S-X
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Disclaimer
Knight-Swift Transportation Holdings Inc. published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 14:05:42 UTC.
