JOC Staff | Oct 23, 2012 9:53AM EDT
Net profit at truckload carrier Swift Transportation dropped 10 percent from a year ago in the third quarter to $27.6 million, while revenue remained almost flat at $871.1 million.
The nation's largest truckload carrier reported third quarter net revenue of $702.4 million, up 1.6 percent from $691.3 million in the same period last year.
In the first nine months of 2012, revenue increased 4.0 percent year-over-year, from $2.0 billion to $2.1 billion.
Intermodal business continued to grow significantly, with revenue increasing 41.5 percent year-over-year in the third quarter.
Freight volumes were down in July, consistent with seasonal trends, but did not pick up in mid-August, similar to prior years, the company said.
For analysis of Swift's performance, see Swift Claims ‘Uptick’ in Truckload Freight.
