January 30, 2018 / 9:22 PM / 20 days ago

U.S. tax law, trucking demand lift Knight-Swift quarterly profit

Jan 30 (Reuters) - Trucking company Knight-Swift Transportation Holdings Inc on Tuesday posted a higher quarterly profit that beat Wall Street forecasts, boosted by changes to the U.S. tax law and strong freight demand.

But North America’s largest full truckload carrier reported revenue that fell short of analyst projections.

The Phoenix, Arizona-based company reported fourth-quarter earnings of $447.56 million, or $2.50 per diluted share, up from $22.16 million, or 27 cents per diluted share in the year-ago period.

Adjusting for one-time items, Knight-Swift reported earnings per share of 52 cents. Wall Street analysts expected 41 cents. (Reporting by Eric M. Johnson in Seattle; Editing by David Gregorio)

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