US motor carriers blamed “an oversupply of truckload capacity” for greater-than-expected pressure on earnings in the third quarter.
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Swift Transportation
Swift Transportation
Swift Transportation is an American truckload carrier that offers services in intermodal transportation and logistics as well as supply chain solutions. Founded in 1966 with headquarters in Phoenix, Arizona, the company reported 2013 revenue of $4.12 billion, up 3.6 percent year-over-year.
Swift Transportation recently expanded its refrigerated freight business by acquiring Central Refrigerated Service. Swift paid $189 million in cash and assumed $36 million in capital lease obligations to acquire the $453 million temperature-controlled carrier.
Swift Transportation and its primary subsidiaries — Central Refrigerated Service and Swift Intermodal — employ 19,600 individuals and operate a fleet of 18,000 tractors, 57,300 trailers, and 8,700 intermodal containers, making it the largest truckload carrier in the United States.
Webcasts
17 Jul 2019
As the US economy softens, shippers are pressing truckload carriers to reverse rate hikes, but carriers say the money has already been spent -- on driver raises and new trucks.
25 Apr 2019
Some of the biggest trucking companies are riding the 2018 wave well into 2019, and they’re focused more on building profit than revenue as the US economy slows.
24 Apr 2019
The nation’s largest truckload operator is keeping a firm grip on costs and lowering its expectations for the second quarter as US motor carriers prepare for a potentially bumpy road ahead.
20 Apr 2019
Although the e-commerce giant doesn't describe itself as a third-party logistics provider (3PL), Amazon has surpassed major global players such as DHL and Kuehne + Nagel in 3PL revenue.
17 Jan 2019
Knight-Swift projects higher fourth-quarter, first-quarter earnings, but analysts are not doing the same for 2019 truckload pricing forecasts.
