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Swift Transportation misses 1Q profit forecasts

PHOENIX (AP) _ Swift Transportation Co. (SWFT) on Monday reported first-quarter earnings of $5.2 million.

On a per-share basis, the Phoenix-based company said it had net income of 4 cents. Earnings, adjusted for amortization costs, were 7 cents per share.

The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The trucking company posted revenue of $963.8 million in the period, topping Street forecasts. Eight analysts surveyed by Zacks expected $963.2 million.

Swift Transportation shares have risen roughly 3 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $25.04, an increase 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