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What: Shares of trucking company Swift Transportation (NYSE: SWFT) are up 12.4% as of 10:45 a.m. EDT after the company released better-than-expected earnings. 

So what: Swift posted earnings per share of $0.32 in the second quarter, which was above the $0.28-per-share consensus estimate compiled by S&P Global Market Intelligence. It should be noted, though, that these numbers are less compared to the same quarter last year, when the company generated $0.35 per share.The decline can be attributed to an oversupply in trucking and a tepid demand for transportation. This lack of demand has put pricing pressure on Swift and its competitors. Still, it appears that Wall Street overestimated these effects.

Now what: Swift estimates that trucking will likely be weak for the rest of the year as it works through excess capacity and demand picks up. It expects an improvement in the market come 2017. For investors, it appears that this is just a blip, with Wall Street overreacting to a single quarterly result, and probably has no bearing on the long-term prospects of the company. If you have an investment thesis on this company, today shouldn't change it.