Swift Transportation Co. (SWFT) Reports In-Line Q2 EPS

Swift Transportation Co. (NYSE: SWFT) reported Q2 EPS of $0.33, in-line with the analyst estimate of $0.33. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.09 billion.

Quarterly Highlights

• Adjusted EPS for the second quarter of 2014 was $0.33, consistent with the range previously disclosed of $0.30-$0.35. This represents a $0.21 improvement compared to the first quarter of 2014.
• Consolidated Revenue xFSR for the second quarter of 2014 grew 5.6% year over year
• Truckload Adjusted Operating Ratio improved 140 basis points year over year in the second quarter to 84.8%, despite Revenue xFSR being constrained due to the tight driver market
• Truckload utilization as measured by loaded miles per tractor per week improved 1.8% year over year
• Truckload pricing increases continue to gain momentum, resulting in a 3.7% increase in Revenue xFSR per loaded mile compared to the second quarter of 2013, and driving second half 2014 expectations higher to a range of 4-5% year over year
• Dedicated Revenue xFSR grew 23.3% from the second quarter of 2013 to the second quarter of 2014 driven by the addition of several new customer contracts
• Central Refrigerated Services ("CRS") Adjusted Operating Ratio increased 220 basis points to 95.7% year over year in the second quarter, but improved 140 basis points from the first quarter of 2014 as operational improvements continue each month subsequent to the systems integration in February

For earnings history and earnings-related data on Swift Transportation Co. (SWFT) click here.

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