Swift Transportation reported its profit in the second quarter of 2013 was $42.9 million, jumping 27.4 percent from $33.7 million in the same quarter in the previous year.
Revenue for Swift Transportation, No. 6 in JOC’s Top 50 Trucking Companies ranking, rose 2.9 percent in the second quarter, reaching $898.1 million, compared with $872.6 million in the second quarter of 2012. Revenue for the truckload segment was $588.7 million, up from $575.2 million, and revenue for the dedicated segment was $182.7 million, up from $181.9 million. The intermodal segment’s revenue rose from $81.1 million in the second quarter of 2012 to $84.4 million in the second quarter of 2013.
“We are pleased with our team’s continued ability to deliver positive results in a relatively lackluster freight environment,” Swift executives said in a letter to stockholders. “This quarter, freight demand was generally soft in April and May before improving in June, with the strength coming primarily in the Southern and Southeastern portions of the United States.”
The dedicated segment continued to show the most progress, as the truckload segment delivered a “flattish” performance as a result of the soft freight environment, Stifel Transportation & Logistics Research Group said.
In the first six months of 2013, Swift Transportation’s net income was $66.3 million, spiking 66.2 percent from $39.9 million in the first half of 2012. Revenue from January to June was $1.75 billion, improving from $1.70 billion in the same period last year.