Net Earnings Increase Over 50% at Swift
Swift Transportation Co. Inc., Phoenix, Ariz., said revenues for the third quarter of 2003 increased 16.2% to $623.9 million, compared with $537.0 million for the corresponding quarter of 2002
Swift Transportation Co. Inc., Phoenix, Ariz., said revenues for the third quarter of 2003 increased 16.2% to $623.9 million, compared with $537.0 million for the corresponding quarter of 2002.
The third quarter of 2003 includes $21.3 million of fuel surcharge revenue versus $10.5 million in the third quarter of 2002. Excluding this fuel surcharge revenue, the increase in revenues would have been 14.5%. Net earnings were $24.6 million compared to $16.3 million for the third quarter of 2002.
For the nine months ended Sept. 30, 2003, the company's revenues increased 14.2% to $1.760 billion from $1.541 billion in 2002. The first nine months of 2003 include $67.8 million of fuel surcharge revenue versus $21.3 million in 2002.
Jerry Moyes, chairman and chief executive officer, said, "Our net earnings grew by more than 50%, driven by 15% top line growth, 4 cents of price improvement and 31 basis points of deadhead improvement, which more than offset a 1.4% of operating revenue increase in insurance cost as we continue to operate in a difficult insurance environment.
"We will continue to focus on increasing our profitability by allocating equipment to those customers which enable us to maximize our return on investment, as well as continuing to examine areas for improvement in our cost structure."
More Drivers

Prime Inc. to Open $7.9M Flagship Used-Truck Dealership
A new driver-focused facility to sell Prime Inc's used trucks and trailers will be the first purpose-built location in the company's history.
Read More →Short Takes: Inside K&B’s Truck Safety Tech
Listen to learn how K&B Transportation uses cellphone-blocking technology, speed management systems, weather geofencing, bridge avoidance tools, and more to improve driver safety.
Read More →
Nussbaum Expands Driver Compensation with Pay Raises, Profit Sharing
Nussbaum Transportation said its latest compensation package could push first-year driver earnings above $90,000 in key hiring markets.
Read More →Listen: Inside Modern Fleet Safety: AI, Cameras & Speed Control at K&B Transportation
Fleet safety is evolving fast—and technology is at the center of it. Learn how a former commercial vehicle enforcement officer turned director of safety at K&B Transportation is embracing real-world safety technology.
Read More →
Maverick Announces 2026 Driver Pay Raises
New raises for Maverick Transportation drivers will take effect on May 31, 2026.
Read More →
Illinois Trucker Indicted for Nearly $22,000 in Ohio Turnpike Toll Evasion
Authorities say an Illinois trucker avoided paying tolls for two years, and now faces felony charges, possible prison time, and forfeiture of his Freightliner tractor.
Read More →
New Trojan Driver Cargo Theft Scam Bypasses Carrier Vetting Systems
Cargo theft rings plant operatives as drivers inside legitimate, fully vetted carriers, then execute coordinated thefts that look like a traditional straight theft from the outside.
Read More →
WIM, Trucker Path Name Top 3 Women-Friendly Truck Stops
ATA’s Women In Motion Council and Trucker Path highlight three truck stops that meet all seven safety-focused criteria and rank highest among female drivers.
Read More →
FMCSA Extends Paper Medical Card Exemption … Again
Five states still aren't ready to accept commercial driver medical exam information directly from the medical examiner's registry.
Read More →
Mack Launches Digital Driver Guide for Chassis-Specific Truck Info
Mack’s new, virtual owner’s manual delivers VIN-based, on-demand guidance for vehicle systems via web, app, and soon in-cab displays.
Read More →
