Friday, November 4, 2011

Con-way Swings to 3Q Profit

Con-way Inc. late Thursday reported a third-quarter profit compared with a loss a year ago, as its truckload, less-than-truckload and logistics operations all improved.
Net income $29.1 million, or 52 cents a share, turning around a loss of $8.2 million, or 15 cents, a year ago.
Revenue rose 8.4% to $1.27 billion, Con-way said in a statement. Operating income jumped to $61.1 million, from $12.5 million a year ago.
LTL unit Con-way Freight, the company’s largest business, saw its operating income jump to $40.7 million, from $13.1 million a year ago. Revenue gained 5.8% to $843.3 million.
LTL tonnage per-day fell 5.5%, but revenue per hundredweight rose 12%.
Con-way Truckload’s operating income rose to $7.9 million, from $5.5 million, while revenue improved 12.8% to $158.7 million.



Its Menlo Worldwide Logistics unit’s operating income rose to $12.7 million, turning around a loss of $6.3 million, while revenue rose 12.7% to $417.1 million.
“Con-way Freight’s continued focus on managing costs, rationalizing volumes in the network and maintaining yield growth delivered positive results,” said CEO Douglas Stotlar.
“The emphasis remains on continuous improvement in all areas of the business,” he said in a statement.
Con-way Inc. is ranked No. 3 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
By Transport Topics
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7 comments:

  1. mooneyNovember 5, 2011 at 10:31 AM

    lets get this greedy busters to share the wealth, better pensions, give us a better premium medical plan, and give us respect and dignity

    ReplyDelete
  2. AnonymousNovember 5, 2011 at 4:34 PM

    With those kind of Profits Conway can aford a good union contract. Hey CFN save your money now and Fire those blood sucking no good for nothing union busters or get rid of your management like Paul Styrrs and Todd Lieberman from a concerned stock holder!

    ReplyDelete
  3. AnonymousNovember 6, 2011 at 9:22 AM

    what's going on here? seem's conway is treating their employees really bad.
    here in sacramento, they are talking about joining the teamsters. bring it on.
    i want to thank the ups frt driver for those blog cards.
    hear fedex is also join the teamsters

    ReplyDelete
  4. Ula driverNovember 13, 2011 at 1:50 AM

    Thanks Tito for helping us.we appreciate all the help and advice we're getting from all ups and abf drivers. Tito let me tell you there are lots of former Conway drivers like you helping us with our organizing drive,we need guys like you to educated new conway drivers on how conway treat their employees.Conway management treat their employees shit.I'm calling for all Conway drivers across the country to start joining us on this organizing effort across the country.we're the 99%, corporate greed won't stop if we don't get unionized.we need the teamsters god bless them

    ReplyDelete
  5. AnonymousNovember 13, 2011 at 6:10 PM

    Looks like Tod went on a training last week to get
    rid of the union organizers in Dallas. Be ready guys. Watch out for any mistakes u make. Stay strong. I heard you already had two good meetings with the local. Good timing. Stay ahead of the ball game..

    ReplyDelete
  6. AnonymousNovember 13, 2011 at 6:23 PM

    If we had a good manager not like Todd playing mind games we would not be doing this. In Dallas,TX. Espec
    ially the morning supervisor john in dispatch who plays favorite with drivers.

    ReplyDelete
  7. AnonymousNovember 13, 2011 at 11:32 PM

    From Dallas tx its time for all Conway drivers across America to be ready. If you have not spoken to the local union place thievish the time.

    ReplyDelete