Con-way Inc.
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.
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