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More Bullish Numbers From One Of The Best US Economic Bellwethers (SWFT)
The trucking industry may be the best economic indicator out there.
Earlier today, we learned that the American Trucking Association believes Q1 is likely to be a bit weak as new taxes bite.
But we just got some data saying the rest of the year will look pretty good: Swift Transportation’s Q4 revenue has crushed expectations at $ 922 million (analysts were expecting $ 881 million according to Yahoo Finance).
In addition, total 2012 revenue improved 7 percent compared with 2011.
“Our key trucking metrics are trending favorably, despite economic uncertainty, and we have seen strong growth in our Intermodal and Dedicated segments,” CEO Jerry Moyes said in the company’s release.
The company’s guidance for 2013 includes adding 300-500 new tractors (ie the trucks that haul the freight).
The stock was up about 10 percent after hours.