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Swift Transportation beats 2Q profit forecasts

PHOENIX (AP) _ Swift Transportation Co. (SWFT) on Monday reported second-quarter profit of $26.3 million.

On a per-share basis, the Phoenix-based company said it had profit of 20 cents. Earnings, adjusted for non-recurring costs, came to 25 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The trucking company posted revenue of $993.1 million in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $1.02 billion.

Swift Transportation shares have increased 4 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $25.38, a rise of 33 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWFT at https://www.zacks.com/ap/SWFT


Keywords: Swift Transportation, Earnings Report