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Swift Transportation meets 4Q profit forecasts

PHOENIX (AP) _ Swift Transportation Co. (SWFT) on Thursday reported fourth-quarter net income of $50.4 million.

The Phoenix-based company said it had profit of 38 cents per share. Earnings, adjusted for non-recurring costs, were 40 cents per share.

The results met Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was also for earnings of 40 cents per share.

The trucking company posted revenue of $1.04 billion in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $1.05 billion.

For the year, the company reported profit of $149.3 million, or $1.10 per share. Revenue was reported as $4.03 billion.

For the current quarter ending in April, Swift Transportation expects its per-share earnings to range from 13 cents to 18 cents.

Swift Transportation shares have declined almost 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.66, an increase of 43 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