Swift Transportation Company has announced its financial results for the third quarter of 2014 ended September 30. It reported revenue of $1,074.9m, an increase of 4.15% over the third quarter of 2013. The company also recorded EBITDA of $154m, which represented a 6.94% rise year-on-year. Accordingly the company’s margin stood at 14.33%.
The revenue result was primarily driven by 31.7% growth in the Dedicated segment, attributable to the addition of multiple new customer contracts over the past 12 months. The 4.5% growth in intermodal revenue, driven by a 12.9% increase in container on flat car loads, also contributed to the revenue result. These positive developments were sufficient to offset revenue declines in the Truckload and Central Refrigerated Segment divisions.
Contributions to the growth in EBITDA were made by the Truckload, Intermodal and Central Refrigerated Segment divisions. The Dedicated segment saw sequential improvement, in-line with expectations, and continued towards a return to historical profit margins.
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