Swift Posts Higher 3Q Profit

Joshua Lott/Bloomberg News
Swift Transportation Inc. said its third-quarter net income climbed to $50.2 million, or 35 cents per share, from $30 million, or 21 cents, a year earlier.

Adjusted earnings per share rose to 39 cents, from 29 cents a year ago, the truckload carrier said in its report.

Revenue increased to $1.075 billion from $1.032 billion.

Swift said it implemented various strategies during the quarter to improve driver recruitment and retention, including a “significant” pay increase, more “driver-friendly” initiatives and enhanced driver interaction.

“We believe drivers will remain a key focal area for the entire industry as we move into the fourth quarter and 2015 — and one we expect to monitor closely,” the company said in an Oct. 23 letter to shareholders.

The Phoenix-based carrier ranks No. 6 on the Transport Topics Top 100 list of U.S. and Canadian for-hire carriers.