Swift Transportation (SWFT) Falls on Lower Guidance

Swift Transportation (NYSE: SWFT) falls after lowing guidance. Sees Q1 EPS of $0.13-$0.18 and Q2 EPS of $0.25-$0.30. Shares down 9%.

On December 9, 2016, Swift Transportation Company (the "Company") held a mid-fourth quarter conference call, providing an update on certain operating metrics for the periods October 2016 and November 2016. As of December 9, 2016, we expect to be in the lower half of our previously disclosed guidance ranges for the year, which were $1.09 to $1.19 for GAAP Diluted EPS and $1.20 to $1.30 for Adjusted EPS. The following items are added back to expected full-year 2016 Diluted EPS to arrive at Adjusted EPS: the expected amortization of the intangibles from the Company's 2007 going-private transactions, the previously announced one-time charge associated with Jerry Moyes' retirement package, and non-cash impairments in November 2016 related to certain operations software for approximately $0.10, $0.05, and less than $0.01, respectively.

As of December 9, 2016, we anticipate first quarter 2017 ranges for GAAP Diluted EPS of $0.11 to $0.16 and Adjusted EPS of $0.13 to $0.18. We anticipate second quarter 2017 ranges for GAAP Diluted EPS of $0.23 to $0.28 and Adjusted EPS of $0.25 to $0.30. Expected amortization of the intangibles from the Company's 2007 going-private transactions is added back to the quarterly 2017 expected Diluted EPS to arrive at Adjusted EPS.

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