Swift Transportation Profit In Line With Estimates; Reaffirms FY Guidance

(RTTNews) - Swift Transportation Co (SWFT) on Monday reported second-quarter net earnings of $51 million or $0.35 per share compared with $40.2 million or $0.28 per share last year.

Excluding items, adjusted earnings for the quarter were $0.37 per share compared with $0.33 per share a year ago.

Revenues for the quarter were lower at $1.06 billion compared with $1.08 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.37 per share on revenues of $1.10 billion for the quarter. Analysts' estimates typically exclude special items.

Operating ratio for the quarter was 90.7% compared with 91.3% a year ago.

Operating expenses decreased to $960.9 million from $981.9 million in the prior year, driving up profits, the company said.

For the full year 2015, the company still expects adjusted earnings of $1.64 to $1.74 per share, while analysts expect $1.69 per share.