Tue, Oct. 27, 4:46 PM
- Swift Transportation (NYSE:SWFT) ended 1.8% higher to recover from earlier losses after saying it planned to halt the expansion of its trucking fleet in response to weak freight demand and pricing.
- “Effective immediately we will enter into a zero fleet growth mode. Until we reach a best in class utilization level, we will not be adding any new equipment," SWFT CEO Jerry Moyes said in today's earnings conference call, adding that the company is considering reducing its count of tractor-trailers.
- Analysts said SWFT’s move is aimed at bolstering freight rates amid a soft patch in the economy that has hurt transportation companies across the board.
- SWFT's announcement followed a weak Q3 earnings report released after yesterday's close, as EBITDA fell 11% Y/Y to $137.2M.
Mon, Oct. 26, 4:05 PM
Sun, Oct. 25, 5:35 PM
Fri, Sep. 25, 7:11 AM
- Swift Transportation (NYSE:SWFT) lowers full-year EPS guidance to $1.43-$1.52 from a prior level of $1.64-$1.74.
- The drop in profit expectation is due in part to the impact of an accident and worker compensation claims.
- Swift expects Q3 EPS to be $0.30-$0.33 vs. $0.44 consensus and Q4 EPS to be $0.48-$0.54 vs. $0.59 consensus.
- A new buyback plan of $100M was approved by Swift Transportation.
Mon, Jul. 27, 4:13 PM
Sun, Jul. 26, 5:35 PM
Wed, Jun. 24, 11:16 AM
- Select railroad and trucking stocks trade weak after Q1 GDP figures are revised in-line with expectations. A read yesterday on durable goods was weak.
- Stocks from the transportation sector drifting lower include Knight Transportation (KNX -4.5%), Swift Transportation (SWFT -5.5%), ArcBest (ARCB -3.9%), YRC Worldwide (YRCW -2.2%), Greenbrier (GBX -1.6%), Heartland Express (HTLD -2.6%), Kansas City Southern (KSU -2.2%), Celadon Group (CGI -2%), JB Hunt Transport (JBHT -2.1%), Trinity Industries (TRN -1.6%).
- FedEx (FDX -0.9%) and UPS (UPS -0.8%) are also trailing broad market averages.
Fri, Jun. 19, 11:26 AM
- The EPA and NHTSA have published a new set of rules covering fuel efficiency on medium and heavy duty vehicles built for the model year 2018 and beyond.
- The agencies forecast the program will cut greenhouse gas emissions by 1B metric tons and lower fuel costs by $170B for the lifetime of the vehicles manufactured under the program.
- Though the release of tighter emission rules has been widely anticipated, perhaps a bigger surprise this week was the strong statement made by Pope Francis on the global need to address climate control.
- The number of companies that could ultimately be impacted by the proposed changes if they are enacted spread across various sectors.
- Joint EPA/NHTSA proposal (.pdf)
- Encyclical letter from Pope Francis (.pdf)
- Related stocks: KNX, PTSI, ODFL, JBHT, R, SWFT, CNW, GM, F, OTCPK:DDAIF, NAV, OTCPK:VOLVY, CMI, PCAR, FDX, UPS, HTZ, TM,
Fri, Jun. 19, 10:09 AM
- The EPA is expected to announce a new set of rules today covering medium and heavy trucks built in the model year 2019.
- The administration aims to improve fuel efficiency with larger-sized trucks accounting for 20% of all emissions in the transportation sector off a mark of 4% of vehicles on the road.
- The new rules could also cover light-duty pickup trucks, buses, and delivery vehicles.
- Related stocks: KNX, PTSI, ODFL, JBHT, R, SWFT, CNW, GM, F, OTCPK:DDAIF, NAV, OTCPK:VOLVY, CMI, PCAR.
Mon, Apr. 27, 4:05 PM
Mon, Apr. 27, 3:02 PM
- Trucking stocks are notably weak today with several analyst downgrades out in the sector.
- Knight Transportation (KNX -4%) received one of the harsher actions with Wolfe Research downgrading the stock to an Underperform rating.
- Other analysts cite apprehension in the sector into key earnings reports.
- Trucking decliners: Celadon Group (CGI -3.2%), Swift Transportation (SWFT -2.8%), Heartland Express (HTLD -2.9%), Werner Enterprises (WERN -6.9%), USA Truck (USAK -6.4%), P.A.M. Transportation (PTSI -4.9%), Roadrunner Transportation Systems (RRTS -2%).
Sun, Apr. 26, 5:35 PM
Wed, Feb. 18, 7:41 AM
- UBS initiates coverage on Knight Transportation (NYSE:KNX) with a Buy rating.
- The investment firm starts Heartland Express (NASDAQ:HTLD) off with a Sell rating.
- Swift Transportation (NYSE:SWFT) and Echo Global Logistics (NASDAQ:ECHO) are given Buy ratings by UBS
- Werner Enterprises (NASDAQ:WERN) and C.H. Robinson Worldwide (NASDAQ:CHRW) are assigned Neutral ratings.
Wed, Jan. 28, 4:12 PM
Tue, Jan. 27, 5:35 PM| Tue, Jan. 27, 5:35 PM | 4 Comments
Oct. 23, 2014, 7:27 PM
- Swift Transportation's (NYSE:SWFT) Q3 operating ratio improved 90 bps to 90.9% and adjusted operating ratio improved 110 bps to 88.2%.
- Consolidated Average Operational Truck Count increased more than 500 trucks Y/Y.
- Truckload Adjusted Operating Ratio improved 290 bps Y/Y.
- Guidance: FY'14 EPS $1.29 - 1.33 vs. $1.27 consensus; FY'15 EPS $1.62 - 1.72 vs. $1.65 consensus.
- Shares +2% AH.
- Previously: Swift Transportation beats by $0.04, misses on revenue
Swift Transportation Co is a multi-faceted transportation services company and a truckload carrier in North America. The Company's four reportable operating segments consist of Truckload, Dedicated, Central Refrigerated and Intermodal.
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