Disappointment for Swift as revenues drop 4.7%

Swift Transportation have announced its Q4 and 2016 calendar year results. Operating revenues dropped 4.7% to $4,032m for the year. Q4 revenues were down 4.9% on the same period in 2015 to $1,039m.

EBITDA was subsequently lower for both Q4 and the full year. In 2016, EBITDA was down 15.7% to $526.8m, whilst in Q4 it was down 30.8% on the same period in the previous year.

Truckload, refrigerated and intermodal revenues saw 7.1%, 10.2% and 7.8% decreases respectively in 2016. Dedicated (specialised) activities were the only sector with revenue growth, increasing 4.7% on the previous year.

Swift admitted its disappointment in these figures. It saw industry capacity, excess customer inventories, a weakening used truck market and sluggish demand pressured volumes and pricing as the key factors that affected its financial results throughout the year.

Source: Swift Transportation