Sunday, August 19, 2012

Swift Transportation Up 7% On 3Q EPS Beat

Better than expected third-quarter earnings fueled�by improving volumes and pricing sent shares of Swift Transportation (SWFT) up 7%�this morning.

The stock,�which went public in December 2010,�climbed 61 cents a share to $8.70 a share during morning market action.

The company reported late Wednesday that�it earned�25 cents a share on operating revenue of almost $864 million. Analysts, on average, were expecting earnings of 22 cents a share, according to Thomson Reuters I/B/E/S.

Swift is primarily a truckload carrier but it also has rail intermodal, freight brokerage, and third-party logistics operations. Its largest customer is retailer Wal-Mart.

Earlier this week,�Swift’s rival Werner Enterprises (WERN) posted�third-quarter revenue that missed market expectations, hurt by weaker freight demand.

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