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K KNIGHT July 21 , 2021 TRANSPORTATION Phoenix , Arizona SWIFT TRANSPORTATION Knight - Swift Transportation Holdings Inc. Reports Second Quarter 2021 Revenue and Earnings Knight - Swift Transportation Holdings Inc. ( NYSE : KNX ) ( " Knight - Swift " or " the Company " ) , one of North America's largest and most diversified freight transportation companies , today reported second quarter 2021 net income attributable to Knight - Swift of $ 152.8 million and Adjusted Net Income Attributable to Knight - Swift of $ 163.0 million . We reported GAAP earnings per diluted share of $ 0.92 for the second quarter of 2021 , compared to $ 0.47 for the second quarter of 2020. Our Adjusted EPS was $ 0.98 for the second quarter of 2021 , compared to $ 0.57 for the second quarter of 2020 . Key Financial Highlights Our consolidated revenue , excluding trucking fuel surcharge , grew by 21.6 % during the second quarter of 2021 , reflecting meaningful growth across all reportable segments . We generated consolidated Adjusted Net Income Attributable to Knight - Swift of $ 163.0 million , which represents a 68.9 % increase from $ 96.5 million during the second quarter of 2020. Revenue per tractor was up 10.3 % despite lower fleet utilization as a result of the difficult driver sourcing environment . Our Trucking segment increased revenue , excluding fuel surcharge and intersegment transactions , by 8.2 % , resulting in a 460 basis point improvement in the Adjusted Operating Ratio to 80.9 % in the second quarter of 2021 from 85.5 % in the second quarter of 2020. Our Logistics segment more than doubled revenue and increased operating income by 372.5 % . Our Intermodal segment grew revenue nearly 40 % and improved its Adjusted Operating Ratio by over 1,000 basis points to 95.0 % in the second quarter of 2021 , compared to the same quarter last year . We anticipate ongoing improvement within the Intermodal segment in the coming quarters . Dave Jackson , CEO of Knight - Swift , commented , " We believe truckload shippers are recognizing the value of our unique and unmatched terminal network and industry - leading trailer pool capacity . Our strong performance in recent quarters is the result of having invested significant capital and many years in developing a powerful combination of assets , technologies , people , and customer relationships toward producing distinctive value to our customers . We are energized by our recent results , including the growing adoption of our power - only services by small carriers , and even more excited about our plans already underway to drive further growth , meaningful returns , and less cyclicality in the future . " Knight - Swift Consolidated Results 2021 Quarter Ended June 30 , 2020 Total revenue $ Change ( Dollars in thousands , except per share data ) 1,315,701 $ 1,060,698 24.0 % Revenue , excluding trucking fuel surcharge $ 1,212,872 $ 997,597 21.6 % Operating income 191,115 $ 102,167 87.1 % Adjusted Operating Income $ 204,637 $ 123,960 65.1 % Net income attributable to Knight - Swift $ 152,804 $ 80,189 90.6 % Adjusted Net Income Attributable to Knight - Swift 1 $ 162,998 $ 96,498 68.9 % Earnings per diluted share $ 0.92 $ 0.47 95.7 % Adjusted EPS 1 $ 0.98 $ 0.57 71.9 % 1 See GAAP to non - GAAP reconciliation in the schedules following this release .