Swift Posts Higher First-Quarter Profit
Swift Transportation on Thursday said its first-quarter profit rose from a year ago on higher revenue.
The truckload carrier’s net income was $6.2 million, or 4 cents per share, compared with $3.2 million, or 2 cents per share, in the first quarter of 2011.
Its operating income was $57.9 million, compared with $46.7 million in the 2011 period.
Revenue rose 9% to $826.9 million, the company said in a statement.
Swift said its planned first-quarter temporary fleet reduction of 4% improved utilization and deadhead.
The company also cited a 3.5% pricing improvement for the quarter, which was in line with its projected 3-4% pricing gain for full 2012.
Swift is ranked No. 7 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
