SWIFT TRANSPORTATION * USA: Posts higher profit, lower revenue
* Arizona - Trucking company says excess capacity, high customers inventories continue to pressure volume and pricing
--- Trucking company Swift Transportation Co., which has adopted cost controls including scaling back its fleet amid tough market conditions, posted a 4.7% profit increase in the third quarter despite lower revenue... Swift said excess capacity, high customers inventories and sluggish demand continued to pressure volume and pricing in the quarter... The company affirmed its full-year guidance for earnings excluding items of $1.30 to $1.40 a share...
(PHOTO: BLOOMBERG NEWS - Swift says it cut 110 trucks from its fleet from the second quarter to the third) -- Phoenix, AZ, USA - The WSJ, by JOSH BECKERMAN - Oct. 24, 2016
Labels: trucking industry news USA