U.S. Markets open in 3 hrs 30 mins

Earnings Review and Free Research Report: Swift Transportation Reported Better Than Expected Earnings Results

Research Desk Line-up: Old Dominion Freight Line Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 1, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Swift Transportation Co. (NYSE: SWFT), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SWFT, following the Company's posting of its second quarter fiscal 2017 earnings results on July 24, 2017. The trucking Company reported a y-o-y decline in revenue and earnings. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Trucking industry. Pro-TD has currently selected Old Dominion Freight Line, Inc. (NASDAQ: ODFL) for due-diligence and potential coverage as the Company announced on July 27, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Old Dominion Freight Line when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SWFT; also brushing on ODFL. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=SWFT

http://protraderdaily.com/optin/?symbol=ODFL

Earnings Reviewed

For the second quarter 2017, Swift Transportation reported operating revenue of $993 million, down compared to revenue of $1.01 billion in Q2 2016. The Company's revenue, excluding fuel surcharge revenue (xFSR), totaled $898.95 million compared to $935.41 million in the prior year's same quarter. Swift Transportation's revenue numbers fell short of analysts' estimates of $1.02 billion.

During Q2 2017, Swift Transportation's operating expenses were $940.90 million compared to $937.65 million in Q2 2016. The Company's operating profit was $52.16 million compared to $74.21 million in the prior year's corresponding quarter.

For Q2 2017, Swift Transportation's net income was $26.30 million, or $0.20 per share, compared to $42.90 million, or $0.32 per share, in Q2 2016. The Company's earnings, adjusted for non-recurring costs, came in at $0.25 per share and were ahead of Wall Street's expectations for earnings of $0.20 per share.

Operating Segments

During Q2 2017, Swift Transportation's Truckload segment's revenue totaled $292.24 million compared to $517.59 million in Q2 2016. The segment's operating income came in at $29.28 million in the reported quarter versus $50.48 million in the prior year's comparable quarter.

Swift Transportation's Dedicated segment's revenue jumped 8% to $157.73 million on a y-o-y basis, while the segment's operating income came in at $18.98 million compared with $20.52 million in the year ago same period.

During Q2 2017, Swift Transportation's Refrigerated segment's revenue totaled $182.86 million compared to $178.16 million in Q2 2016. The segment's operating income came in at $8.29 million in the reported quarter compared to $12.74 million in the prior year's same quarter.

Swift Transportation's Intermodal segment's revenue grew 1% to $92.16 million on a y-o-y basis while the segment's operating income came in at $1.50 million compared with $903,000 in the year ago corresponding period.

Cash Matters

During H1 2017, Swift Transportation's cash flow from operations was $182.96 million compared to $243.97 million in the year ago same period. The Company's capital expenditures were $86.92 million in H1 2017 compared to capital expenditures of $68.96 million for H1 2016.

Merger Agreement

On April 10, 2017, Swift Transportation announced an all-stock merger agreement with Knight Transportation, Inc. (NYSE:KNX) ("Knight"), which was unanimously approved by the Board of Directors of both companies, and it is expected to close during the quarter ended September 30, 2017. The combined company will be named Knight-Swift Transportation Holdings Inc. ("Knight-Swift"). Knight is expected to be the accounting acquirer. Under terms of the definitive agreement, each Swift Transportation's share will convert into 0.72 shares of Knight-Swift by means of a reverse stock split.

Each share of Knight will be exchanged for one Knight-Swift's share. On April 07, 2017, based on the last trading day prior to the announcement where the closing price of Knight's shares was $30.65, the implied value per share of Swift Transportation is $22.07. Upon closing of the transaction, Swift Transportation's stockholders will own approximately 54.0% and Knight's stockholders will own approximately 46.0% of the combined company. The combined company would have an implied enterprise value of approximately $6.0 billion.

Due to the anticipated merger with Knight, Swift Transportation did not host a separate conference call for the second quarter.

Stock Performance

At the closing bell, on Monday, July 31, 2017, Swift Transportation's stock slightly advanced 0.71%, ending the trading session at $25.50. A total volume of 1.11 million shares have exchanged hands. The Company's stock price soared 4.38% in the last three months, 10.87% in the past six months, and 32.47% in the previous twelve months. Moreover, the stock gained 4.68% since the start of the year. The stock is trading at a PE ratio of 32.24 and currently, has a market cap of $3.40 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily