Swift Adjusts Earnings Report From Lawsuit

Tazz

Infidel
Swift Transportation reversed course after reporting third-quarter earnings were up 4.7% year-over-year to $38 million on Oct. 24, lowering the number to $24 million, or a 34% decline lower than a year ago. The Phoenix-based company wrote in a letter to investors Nov. 1 that pending litigation forced it to add $22 million in legal reserves, lowering earnings before tax and interest. As a result, Swift also will pay $8 million less in taxes and thus the total impact is a $14 million decline in overall earnings.

Read more at: Swift Lowers Earnings Based on Pending Class-Action Lawsuit | Transport Topics Online

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But the good news for @Injun is


Dedicated contract carriage revenue climbed 8.9% to $234.4 million, and weekly revenue per tractor was up 8.1% to $3,603.
 

Injun

Rabid Squaw
Staff member
Premium
Yeh.. Inherited litigation left over from Central. That's something to keep in mind when absorbing another company. You get the whole shitteroni, warts and all.
 
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