Swift Says Fuel Costs Rise 50%
February 17, 2000
Swift Transportation Co., is telling financial analysts that its anticipates earnings for the
quarter ended March 31, 2000 will be less than $0.20 per share due to high fuel prices.
Chairman and ceo Jerry Moyes said the fleet's fuel cost for the first 45 days of 2000 had increased 43 cents per gallon compared to the same period in 1999, an increase of 50%.
At the same time, he said the pressure on profits in the entire truckload industry could "create potential acquisition opportunities for the company."