Joshua Lott/Bloomberg News
Swift Transportation Co. said net income slipped 19% to $40.2 million, hurt by weaker profit margins at its dedicated and refrigerated units.
Net income was 28 cents per share, including 5 cents per share in one-time costs, and 33 cents per share including those expenses to reduce debt. In the year-earlier period, net income was $49.9 million, or 35 cents.
Revenue increased nearly 5% to $1.076 billion from $1.029 billion.
Profitability rose, however, at the truckload unit, resulting from a 3.7-cent increase in revenue per mile. Profit before interest and taxes rose 7% to $69.6 million, accounting for about 75% of all profit at Swift.
The Phoenix-based firm ranks No. 6 on the Transport Topics Top 100 list of U.S. and Canadian for-hire carriers.