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With year-over-year profitability improvements in its truckload, intermodal and refrigerated segments, Swift Transportation saw its net income surge to $50.2 million in the third quarter, compared to $30 million a year ago.
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Net income during the period was $16.7 million compared to $14.2 million in the prior-year quarter or 54 cents per diluted share compared with 46 cents per diluted share.
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Higher package volume and growth in distribution and UPS Freight business led UPS Inc. to an upswing in third-quarter earnings compared to a year ago.
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The Illinois-based operation reported income of $4.5 million compared to $18.6 million in the third quarter of 2013 with diluted earnings per share of 12 cents compared to 50 cents a year earlier.
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Daimler AG, the German parent of Daimler Trucks North America, has reported higher third quarter profit and revenue, with record Mercedes-Benz auto sales and a booming North American truck market being partially offset by lower sales in other parts of the world.
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Freight transportation provider Landstar System has reported record third quarter net income of $36.8 million, or 82 cents per diluted share, on record revenue of $819 million.
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With strong demand and tight capacity continuing, Knight Transportation's third-quarter profits are up more than 66% over a year ago, thanks to higher revenue per tractor and per loaded mile and fewer empty miles.
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The decline was not surprising with the company announcing last month it was hit with a multi-million dollar judgment.
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According to Werner, freight market dynamics began showing year-over-year improvement for the company in mid-November 2013, and that trend has continued for the last eleven months, including the first three weeks of October.
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Trucking company Marten Transport Ltd. has reported net income of $7.7 million, or 23 cents per diluted share, for the third of the year, down slightly from $8 million, or 24 cents per diluted share, from the same time a year ago.
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