Shares of Swift Transportation fell Monday by 13 percent amid speculation that the Federal Motor Carrier Safety Administration was looking into allegations that drivers’ logbooks were falsified. Wall Street analysts suggested that if FMCSA lowered the carrier’s safety rating, it could lead to higher insurance premiums which would cut into profits. Swift is currently disputing a conditional rating
Shares of Swift Transportation fell Monday by 13 percent amid speculation that the Federal Motor Carrier Safety Administration was looking into allegations that drivers’ logbooks were falsified.
Wall Street analysts suggested that if FMCSA lowered the carrier’s safety rating, it could lead to higher insurance premiums which would cut into profits.
Swift is currently disputing a conditional rating which the agency proposed in 2001 and again last year. FMCSA officials would not comment on the new logbook allegations accept to say that they are studying the situation. Swift officials were unavailable for comment late yesterday.
Swift had planned to release it year-end and fourth quarter numbers at the end of today’s trading session. It closed Monday at $19.04/share and rose a few cents higher this morning.
Voice your opinion!
To join the conversation, and become an exclusive member of FleetOwner, create an account today!
What challenges are top of mind for fleet professionals in 2025? Get exclusive insights from the 2025 Fleet Trends Survey and discover where the industry is headed next.
The most successful fleets accomplish more than delivering freight. To accomplish this, fleets need a fuel that’s reliable, more economical and more sustainable. That fuel is ...
Are your KPIs driving real fleet improvement? Learn how to set smarter, data-driven benchmarks, track success like top-performing fleets, and apply proven strategies to optimize...
Learn how eets can enhance truck utilization and minimize safety incidents using business intelligence and AI. Delve into innovative practices, technology integration and real...
