Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Swift Transportation Reports Record 4th Quarter Profit

Net income totaled $58.5 million, up from $45.3 million the same time a year earlier, while basic earnings per share were 41 cents compared to 32 cents during the same time in 2013 for the Arizona-based company.

by Staff
January 28, 2015
Swift Transportation Reports Record 4th Quarter Profit

Photo: Evan Lockridge

3 min to read


Photo: Evan Lockridge

The trucking company Swift Transportation Co. reported record fourth quarter income and revenue on Wednesday.

Net income totaled $58.5 million, up from $45.3 million the same time a year earlier, while basic earnings per share were 41 cents compared to 32 cents during the same time in 2013 for the Arizona-based company.

Ad Loading...

Total revenue was $1.14 billion in the most recent quarter compared to $1.08 billion for the 2013 final quarter.

Swift also reported its full-year numbers for 2014 showing revenue totaled $4.3 billion compared to $4.1 billion in 2013. Net income last year totaled $161.2 million compared to $155.4 million a year earlier, or $1.14 basic earnings per share last year compared to $1.11 for 2013.

“This quarter we continued to benefit from the strategic driver-friendly initiatives implemented earlier in the year,” Swift said in its letter to shareholders. “Our driver turnover continues to be lower than the industry average, our unmanned truck count remains low, and our academies remain full. We are also encouraged by the positive trends, both financial and operational, generated by most of our reportable segments this quarter, specifically truckload, intermodal and Central Refrigerated Services.”

Ad Loading...

In Swift’s truckload operation, revenue, less fuel surcharges, for the fourth quarter of 2014 increased $28.8 million, or 6.1%, over the same quarter in 2013, despite a 2.7% reduction in its average operational truck count year-over-year, according to the company. This revenue growth was the result of a 6.4% year over year increase in revenue, less fuel surcharge, per loaded mile and a 2.5% increase in loaded miles per tractor per week.

The company’s dedicated operation saw revenue, less fuel surcharge, grow 28.8% to $202.5 million in the fourth quarter of 2014 from the fourth quarter of 2013. This was driven by multiple new contracts that started over the last twelve months, which led to a 30.7% increase in the division’s average operational truck count year-over-year, the company said. Weekly revenue, minus fuel surcharge, per tractor, decreased 1.4% to $3,210 due to the varying operational requirements of new contracts.

Revenue, less fuel surcharge in the company’s Central Refrigerated Services business for the fourth quarter of 2014 decreased 12.8% to $84.2 million compared to the same quarter in 2013, primarily driven by a 10.4% reduction average operational truck count year-over- year, according to Swift. However, it noted the truck count grew 178, or roughly 10% from the beginning to the end of the quarter, as the driver-based initiatives and other structural gained momentum.

Swift reported weekly revenue, minus fuel surcharge in this division, per tractor, decreased 2.7% to $3,558, primarily due to freight mix changes fleet growth, caused by 7.4% reduction in loaded miles per truck, per week, offset by a 5.1% increase in revenue, minus fuel surcharge, per loaded mile.

Intermodal revenue, minus fuel surcharge, grew 6.3% in the fourth quarter of 2014 compared to the same period in the prior year driven by an increase of 1.6% in revenue, less fuel surcharge, per load, and a 4.6% increase in load count.

Ad Loading...

“Despite these many accomplishments, we did experience some disappointments in 2014, including severe winter weather throughout the first quarter, a challenging driver market and our slow reaction to address driver pay, underestimating the cultural and operational differences between Swift and Central Refrigerated and the disruption caused by the systems integration, growing pains and start-up costs in our Dedicated segment, and discouraging claims trends,” Swift said.

For 2015 Swift is projecting adjusted earnings per share of between $1.64 and $1.74.

 

More Fleet Management

Geotab screen on AI concept background
Fleet ManagementJune 17, 2026

What Geotab's New AI Connector Means for Fleets

Fleets can now ask their usual AI assistants questions about maintenance, safety, fuel use, and vehicle performance, using their live Geotab data, and take action on the answers without leaving their preferred AI tool.

Read More →
Image of computer screen with BidBoardX interface

New C.H. Robinson Tool Opens Door to More Predictable Freight

BidBoardX lets carriers search, bid on, and secure committed freight opportunities through a single digital marketplace.

Read More →
Amazon electric cargo bike on New York City street
Fleet ManagementJune 15, 2026

New York City's Microhub Project is Delivering Results

Trucking, last-mile delivery companies, and environmental advocates like what they are seeing so far with New York's microhub program.

Read More →
Ad Loading...
Illustration of hourglass and trucks backed up to a dock
DriversJune 15, 2026

Why Truck Detention Keeps Costing Fleets Time and Money

A 2024 ATRI study found detention affects nearly 40% of truckload stops and costs the industry more than $15 billion annually. Despite the toll on drivers, fleets, and supply chains, the problem remains stubbornly persistent.

Read More →
Panel discussion
Fleet Managementby Deborah LockridgeJune 12, 2026

Time is Running Out to Apply for Exclusive HDT Event

Heavy Duty Trucking Exchange brings fleet managers and suppliers together for the deeper conversations that lead to ideas, partnerships, and solutions. Time is running out to apply for the September event.

Read More →
Empty trailer with worker loading a pallet of cargo
Fleet ManagementJune 10, 2026

Amazon Launches Less-Than-Truckload Freight Offering for All Businesses   

This launch is the latest addition to Amazon Supply Chain Services, a portfolio of supply chain capabilities from Amazon, including freight, distribution, fulfillment, and parcel shipping.

Read More →
Ad Loading...
Stacks of intermodal containers at port with truck driving between them

Import Cargo Volume to See Year-Over-Year Gain Again in June, Then Remain Below 2025 Levels Into Fall

After July, the report predicts a weakening in import volume as consumer uncertainty remains high and the impact of increasing inflation takes its toll.

Read More →
Equity Interest Auction
SponsoredJune 8, 2026

AUCTION OF EQUITY INTEREST IN HEAVY HAUL TRUCKING COMPANY!!

Mark your calendar: June 30, 2026 (10:00 a.m. PDT). A 37.5% ownership interest in MagnaTrans, LLC, a California limited liability company doing business as Magna Transportation Group, will be sold in an in-person and online auction to the highest bidder or bidders under Article 9 of the Uniform Commercial Code. The Rancho Cucamonga-based heavy haul and over-dimensional trucking company operates across California, Oregon, and Arizona.

Read More →
Volvo OTA updates.

Volvo Trucks Adds Unattended Over-the-Air Software Update Capabilities

The latest evolution of Volvo’s over-the-air update technology allows software updates to run while trucks are parked, helping fleets keep vehicles current without disrupting operations.

Read More →
Ad Loading...
Podcast thumbnail illustration
Fleet ManagementJune 4, 2026

How Waste Connections is Using Data, Telematics, and AI

How do you manage and maintain more than 18,000 connected trucks? Data. Lots of it.

Read More →