Swift Transportation Reports Better-Than-Expected Earnings
Phoenix-based company Swift Transportation reported earnings of $0.53 per share for the fourth quarter. In a letter to investors, the company credited better pricing, fewer empty loads and fewer accidents for earnings that exceeded what analysts had predicted.
Swift also reported fuel expenses had dropped more than 30 percent compared to the same time last year. Looking ahead, Swift sees potential risks when it comes to higher fuel prices, less demand and finding enough qualified drivers.
Potential opportunities for 2016 included: cross-selling to new and existing customers, additional share repurchases and positive safety trends.