NEW YORK (TheStreet) -- Swift Transportation Co. (SWFT) stock is decreasing 1.75% to $14.62 in after-hours trading on Monday after the company reported financial results that missed estimates for the third quarter of 2015.
The company reported earnings of 31 cents per share on $1.07 billion in revenue for the quarter ended September 30, while analysts had estimated earnings of 32 cents per share on $1.08 billion in revenue.
Revenue from the truckload segment declined to $552.8 million for the latest quarter from $570.9 million for the same period last year, while revenue from long-term contracts dropped to $234.5 million from $238 million in the same period because of lower fuel surcharge revenue.
Additionally, the transportation company cut its 2015 earnings guidance to $1.43 to $1.47 per share, from the previous outlook of $1.43 to $1.52 per share.
"We have pulled back on our initial growth targets given that the freight environment is softer than we originally expected, and peak volumes have not yet materialized as in years past," Swift Transportation said in a letter to its shareholders.
Separately, TheStreet Ratings team rates SWIFT TRANSPORTATION CO as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
We rate SWIFT TRANSPORTATION CO (SWFT) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, poor profit margins and generally higher debt management risk.
You can view the full analysis from the report here: SWFT