Guidance Drives Swift Transportation

The trucking company says it will beat analysts' EPS expectations for the fourth quarter.
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Swift Transportation

(SWFT)

surged Tuesday after the company raised fourth-quarter earnings guidance late Monday.

The Phoenix-based trucking firm said earnings for the quarter ended Dec. 31 will exceed analysts' expectations, thanks to strong freight demand, improved pricing and changes to its fuel surcharge program.

The consensus estimate is for 33 cents a share, according to Thomson First Call.

Shares rose $1.76, or 8.3%, to $22.85 in premarket trading.

"This improvement occurred despite an increase in excess of 40% in the national average of fuel prices during the fourth quarter of 2004 to date as compared to the fourth quarter of 2003," the company said.

The company reports quarterly results on Jan. 26.