Trucking company Swift Transportation has announced it expects adjusted earnings per share to range between 33 and 36 cents per share for the fourth quarter of 2013, compared to its previous expectation of 40 cents per share.
Swift Lowers Fourth Quarter Earnings Expectations
Trucking company Swift Transportation has announced it expects adjusted earnings per share to range between 33 and 36 cents per share for the fourth quarter of 2013, compared to its previous expectation of 40 cents per share.
It says the lower rates are primarily related to four factors.
“During the fourth quarter, Swift has experienced unfavorable accident claims development, specifically related to our current year claims and to a lesser extent on prior year claims, resulting in a negative impact on insurance and claims expense of approximately $12 million, or 5 cents per chare,” the company said.
The second headwind it says it experienced during the quarter was associated with new fleet start-up and integration related costs.
“During the quarter, Swift was awarded several sizable new dedicated contracts. These new dedicated contracts in addition to the ongoing integration of both Central Refrigerated Services and a new 300 truck owner-operator fleet during the quarter resulted in higher than expected start-up and integration related costs,” Swift said in a release.
The final two variables Swift says it experienced during the quarter were the severe weather experienced throughout the United States and the negative impact associated with the recent changes to the hours of service regulations, both of which negatively effected Swift's operations, including overall miles, utilization, and engine idle time.
“Swift remains committed to continue to focus its efforts on training all driving and non-driving personnel on these new regulations, including the more than 3,000 new employees and owner operators brought into the Swift team from the expansions noted above, with the goal of minimizing the utilization and mileage impact on a go forward basis,” the company said.
More Fleet Management

ATA’s Spear Warns Fuel Prices, Trade Policy, and Global Conflict Could Stall Trucking Recovery
Speaking at the TMC Annual Meeting in Nashville, ATA President Chris Spear said trucking faces mounting pressure from rising fuel prices, geopolitical instability, and uncertainty around trade policy.
Read More →
New Entrants, Chameleon Carriers, and Safety: Is It Too Easy to Start a Trucking Company?
More than 100,000 new trucking companies enter the industry each year, but regulators manage to audit only a fraction of them. That churn creates opportunities for inexperienced startups — and for “chameleon carriers” that shut down after safety violations and reappear under new identities. Read more from Deborah Lockridge in this commentary.
Read More →
Fleet Managers Invited to Apply for Exclusive HDT Exchange Event
HDTX is an intimate event that connects heavy-duty trucking fleet managers with industry suppliers through small-group discussions, educational sessions, and structured one-on-one meetings.
Read More →
DAT Launches iPhone Widget to Help Owner-Operators Find Loads Faster
New DAT One feature shows top-paying loads directly on an iPhone’s home screen, helping carriers react faster to spot-market opportunities.
Read More →
Optimal Dynamics Launches AI System to Help Carriers Choose Better Freight
Optimal Dynamics says its new Scale platform uses AI agents and optimization to help carriers find and secure freight that improves network balance and profitability.
Read More →
DAT: Flatbed Demand Climbs as Van and Reefer Rates Soften
DAT Freight & Analytics data shows tightening flatbed capacity, easing produce markets, and softening van and reefer rates.
Read More →
Run on Less “Messy Middle” Data Shows Multiple Paths Forward for Truck Powertrains [Watch]
NACFE's Run on Less - Messy Middle project demonstrates the power of data in helping to guide the future of alternative fuels and powertrains for heavy-duty trucks.
Read More →
Federal Court Lets NYC Congestion Pricing Continue
A federal court ruling allows New York City’s congestion pricing program to continue, leaving truck tolls in place for fleets delivering into Manhattan.
Read More →
Fontaine Modification Launches Real-Time Truck Modification Tracking Portal
Fontaine Modification has introduced a new customer portal designed to give fleets real-time visibility into the truck modification process, addressing one of the most common questions fleet managers face: “Where’s my truck?”
Read More →
FTR: Trucking Conditions Index Climbs to Highest Level Since 2022
Strong freight rates, rising volumes and tighter capacity push trucking conditions higher, though diesel prices could temper gains in the near term, FTR cautions.
Read More →
