Swift Transportation Company
Name of student
Swift Transportation Company
Swift Transportation Company is an American based company located at Phoenix Arizona. The company was incorporated in 2010 offering truckload carrier. In the United States, Swift is considered to be the largest company in the trucking industry. Swift operates a fleet that includes 13,937 tractors belonging to the company, 4,429 tractors owned by operators, 64,066 trailers and about 9,131 intermodal containers. The fleet of tractors operates in approximately 40 terminals in America, Mexico and Canada. The service at Swift are delivered by the large pool of employees who are around 21,800 in number. The company offers a range of different services such as reginal terminals that ensure pick-ups and deliveries are made through their single and multiple pick-up terminals by the tractors (Fackrell, 2008)
The company maintains contact with its customers to ensure that they receive their desired services. The contact demonstrates the company’s dedication to serve its customers. To monitor their shipping status, Swift has a computer system that if fully integrated and checks on assigned schedules. Swift refrigerated is a department in the company that facilitate the shipping of customer’s products that required controlled temperatures. Intermodal divisions at swift aids movement of freight in company containers through the rails. The company offers drayage of loads between the rail terminals and customer locations which earns Swift a competitive advantage.
In the year 2016 Swift Transportation Company had net revenues of $4.03 billion. The company incurred a total of $1.85 billion on goods sold the same yeah. Deduction the cost of goods sold from the revenues received the company made a gross profit of $2.18 billion. Swift incur various expenses last year that contributed to the reduction of it gross profit to a net profit of $149.26m. Comparatively the profit has decreased from $197.57m which was the year over year profit.
Swift Transportation is listed in the New York Stock Exchange. In 2016 investors bought shares at a closing price of $20.02 from Swift which was a minimal cost. The stock price at Swift closed yesterday at $24.77 per share which as an accumulated change of $4.75 translating to 23.73% change in the current Swift calendar year. For those investors who bought their shares last year and sold them yesterday it has been a gain. The gain is brought about by the increase in cost per share as of yesterday which is $4.75.
Richard Stocking is the Chief Executive Officer and also the president at Swift Transportation Company since the month of July in 2010. Before ascending to his current position, from January 2009 he was still the company’s president and the Chief Operating Officer. He has worked with the company for 24 years and has held various leadership positions in the company. Through his leadership, Swift has achieved high performance records in various sectors. Richard has facilitated the restructuring of the company contributing to the privatization and building of the largest truckload IPO to ever be seen in history.
Ginnie Henkels has been the company’s Chief Financial Officer and vice president starting May 2008. She was the company’s assistant treasurer and an officer of Investor Relations since she joined in the year 2004. Ginnie previously worked at Honeywell taking up roles in different financial departments. She has a Bachelor’s degree from the University of Arizona in Finance and Real Estate together with MBA from Arizona State University.
The company financial status have been hit by a couple of issues decreasing their profits. Covering of accidents by the company has proven to be expensive reducing the company’s revenue. Employee compensation claims have also increased the company’s spending contributing to high expenses incurred. Low customer base is affecting the company’s turn over due to customer’s preference of operators who are not truckload operators.
Class, A. C. D. L., & Don, B. TruckersReport. com Trucking Forum|# 1 CDL Truck Driver Message Board.
Fackrell, E. W., & Flores, H. E. (2008). U.S. Patent No. 7,336,159. Washington, DC: U.S. Patent and Trademark Office.
Swift Transportation. (n.d.). Retrieved April 11, 2017, from http://www.swifttrans.com/