Swift Lowers Third-Quarter Earnings Guidance

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ruckload carrier Swift Transportation Co. on Friday lowered its third-quarter earnings guidance, saying it now expects to earn between 38 cents a share and 42 cents a share.

Analysts expected the carrier to post third-quarter earnings of 46 cents a share, the Associated Press reported.

The revised guidance excludes an anticipated pre-tax impairment charge of up to $8 million, related to the evaluation of translucent trailers that Swift plans to sell over the next year, the company said in a statement.

A soft truckload freight environment and the continuing driver shortage adversely affected the company’s operational results for the quarter, prompting the revision.

Swift is ranked No. 9 on the Transport Topics 100 list of the largest for-hire carriers in the United States and Canada.