Swift Surpasses $1 Billion In Revenue
Swift Transportation, Phoenix, reported record revenues, earnings and earnings per share for the fourth quarter and year ended Dec. 31, 1999
Swift Transportation, Phoenix, reported record revenues, earnings and earnings per share for the fourth quarter and year ended Dec. 31, 1999.
Revenues for the three months ended Dec. 31 were up 19.1% to $284.3 million, while net earnings increased 12.6% to $18.5 million or 28 cents per share. For the year ended Dec. 31, 1999, Swift's revenues increased 21.5% to $1.06 billion, while net earnings increased 20.4% to $66.8 million, or $1.02 per share.
Jerry Moyes, Swift chairman and CEO said the record earnings came despite an increase in fuel costs of 26 cents per gallon in the fourth quarter of 1999 versus the fourth quarter of 1998.
Moyes said the company also resolved a 1997 EEOC action challenging a policy of having new drivers trained by experienced drivers of the same sex. As part of the consent decree, Swift agreed to pay an amount significantly below the originally anticipated amount.
More Drivers
FDA Eases Path for Oral-Fluid Testing
Federal actions could advance oral-fluid drug testing for truck drivers, but lab certification delays and marijuana rescheduling questions remain.
Read More →
Why Hiring Truck Drivers Is Getting Harder
Higher recruiting costs, a shrinking driver pool, and renewed pay competition are raising the stakes for fleets heading into 2027.
Read More →
Roehl Offers Truck Drivers $10,000 Retention Incentive
Payments begin after the first load and continue in mileage-based installments for eligible experienced drivers joining the fleet.
Read More →
Platform Science Adds Dispatch and Safety Tools
Four additions to PS Fleet help fleets monitor loads, manage driver coaching, share truck locations and adjust video system settings.
Read More →
When Language Stops the Truck: The Return of ELP Out-of-Service Orders
English language proficiency rules for commercial drivers aren’t new, but renewed out-of-service enforcement has raised the stakes. Here’s what carriers need to know before a driver reaches a roadside inspection.
Read More →
Samsara Launches Custom AI Agent Builder
Agent Studio lets fleets create AI tools for hours-of-service monitoring, reporting and driver support, including agents that communicate by phone.
Read More →
Trucker Path Expands Reserved Parking Network
Trucker Path has added close to 6,000 more truck parking spaces to its Trucker Path Reserved Parking Network with the addition of Safe Truck Parking.
Read More →
EEOC Sues Texas Trucking Company Over Driver Age Limits
The agency says Trancasa USA rejected applicants over 65 and applied tougher driving-record standards to those over 60.
Read More →
Nussbaum, Roehl Announce Second Driver Pay Increase This Year
This year has seen a swath of major truck driver pay increases as freight capacity has tightened.
Read More →
From One Generation to the Next: How Mentorship Builds Safer Truck Drivers
After three decades in trucking, Harold Perry shares what he's learned about driver safety, mentorship, and helping the next generation build confidence behind the wheel.
Read More →