Swift’s Second-Quarter Income Rises on Higher Fuel Surcharges

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ruckload carrier Swift Transportation Co. Wednesday reported its second-quarter net income rose to $45.5 million or 60 cents a share, up from $29.8 million or 40 cents a year earlier.

The company’s profit was boosted by higher fuel surcharges and rates, the Associated Press reported.

Revenue rose 1.9% to $813.1 million, Swift said in a statement. Excluding fuel surcharges, revenue decreased 3.2% from the second quarter of last year.

The company's board also adopted a stockholder protection rights agreement designed to protect shareholders in the event of a hostile takeover bid.

The agreement — commonly called a “poison pill,” AP reported — would essentially compel anyone that seeks a controlling stake in the company to pay all shareholders a fair premium.

Swift is ranked No. 9 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.