JOC Staff | Jan 24, 2013 9:55AM EST
Phoenix-based regional truckload carrier Swift Transportation reported profit in the fourth quarter of 2012 was $46.9 million, jumping 27.3 percent from $36.8 million in the fourth quarter of 2011. Quarterly revenue was $922.6 million, up 7.2 percent year-over-year from $860.7 million.
For the full year of 2012, income was $114.6 million, rising 26.5 percent compared with $90.6 million in the previous year. Revenue rose from $3.3 billion in 2011 to $3.5 billion in 2012, an increase of 4.8 percent. The company had 1,045 fewer trucks in 2012 than 2011, but expects to add 200 to 300 truckload tractors in 2013, depending on volumes.
Swift’s truckload revenue in the fourth quarter rose 3.1 percent to $591.1 million. In 2012, truckload revenue dropped 2.3 percent to $2.3 billion.
The company’s quarterly intermodal revenue jumped 32.4 percent to $97.7 million, driven by a 29.9 percent increase in the number of loads hauled. Average container count also rose by 44.9 percent year-over-year to 8,628. In 2012, intermodal revenue spiked by 40.2 percent to $334.0 million, fueled by a 36.4 percent increase in the number of loads hauled. Full-year average container count increased by 1,682 containers or 30.4 percent.
Dedicated fleets revenue was also up in the fourth quarter and 2012, primarily due to new large customers. The revenue increased 6.4 percent to $188.2 million in the fourth quarter and 14.2 percent to $724.4 million in 2012.