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Swift Transportation Co. tripled its net income in the first quarter of the year, totaling $37.8 million, or diluted earnings per share of 26 cents, compared to $12.3 million, or 9 cents per share a year earlier.
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The Indiana-based trucking operation Celadon Group Inc. on Wednesday reported a near 67% increase in its net profit during its fiscal second quarter ending with the close last December.
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Swift Transportation announced that it would partner with Spireon to bring GPS-based trailer tracking and management to dry van trailers added in 2015.
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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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Swift Transportation has affirmed earlier expectations for a third-quarter performance of 33 cents to 37 cents adjusted earnings per share, saying its driver wage increase is having desired results.
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Profit for the trucking company Swift Transportation fell in the second quarter of the year despite an increase in revenue.
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The U.S. Supreme Court has denied a petition by the trucking company Swift Transportation to review a lower court ruling against the company involving independent contractor driver leases.
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Navistar said it developed a specification for the International ProStar tractor that the company expects to deliver improved fuel economy results.
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A Teamsters Union proposal that it says addresses trucking company Swift Transportation’s “dual class stock structure” is getting a boost from the country’s largest proxy voting advisory firm.
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The Arizona-based company reported net income of $12.3 million, or nine cents per diluted share, compared to first quarter 2013 profit of $30.3 million, or 21 cents per diluted share.
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