Swift sees 2.6% increase in 2Q revenues

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Swift Transportation on Thursday, July 19, reported earnings of $0.27 per share for the second quarter of 2012, while revenues rose 2.6 percent year-over-year to $872.6 million.

“Our average operational truck count grew sequentially by 0.6 percent to 14,627 during the second quarter of 2012 compared to 14,546 during the first quarter of 2012,” the Phoenix-based company said in a letter to stockholder. “This 81-truck growth is below the guidance of 100-200 units we provided during the first quarter of 2012 due to increased pressure on recruiting and retaining drivers.”

Swift said that as the company began to add trucks in April, its unmanned truck count increased due to difficulty in recruiting new drivers combined with a slight deterioration in driver retention.