Swift Swings to Profit for 4Q, Year
Swift Transportation Co. Wednesday said its fourth-quarter profit was $36.8 million, or 26 cents a share, compared with a net loss of $48.3 million, or 66 cents, a year ago.
Operating income rose to $97 million, from $76.6 million a year ago, the truckload carrier said in a statement.
Revenue rose 10.3% to $860.7 million, and net revenue excluding fuel surcharges rose 5.1% to $691.34 million.
For the year, Swift earned $90.6 million, or 65 cents per share, turning around a loss of $125.4 million, or $1.98, in 2010. Revenue rose to $3.33 billion, from $2.93 billion.
For 2012, Swift said it expects “a slow, steady growth environment similar to 2011.”
Swift is ranked No. 7 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers and is the largest truckload carrier.
