Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
7/31/2014 8:30:00 AM Write a Letter to the Editor Write a letter to the Editor

Con-way’s 2Q Income Improves

Carrier Boosts Dividend, Sets Repurchase Program


Con-way Inc.

Con-way Inc.’s second-quarter profit rose as its truckload, less-than-truckload and logistics operations all improved.

Net income increased to $53.7 million, or 93 cents per share, from $42.9 million, or 75 cents, a year ago.

Operating income rose to $102.7 million from $76.3 million, and revenue rose 8% to $1.49 billion, Con-way reported July 30.

Con-way also set a share repurchase program, under which it can buy up to $150 million of its stock, and said it will boost its quarterly dividend to 15 cents per share from 10 cents per share, or 60 cents from 40 cents on an annual basis.

“Our cash balance has supported strategic investments that have lowered our fleet ages, improved our pension funded status and enabled margin expansion,” CEO Douglas Stotlar said in a statement.

The Con-way freight less-than-truckload unit’s operating income jumped 51.8% to $83 million, and revenue gained 5.4% to $940.5 million.

Con-way Truckload’s operating income increased 24.2% to $13.5 million, while revenue rose 1.4% to $164.1 million.

Operating income at the company’s Menlo Worldwide Logistics unit rose 6.3% to $6.4% million, while revenue rose 17.1% to $433.7 million.

Con-way is ranked No. 4 on the Transport Topics Top 100 list of U.S. and Canadian for-hire carriers.

By MIchael G. Malloy
Staff Reporter

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2014, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

TFM

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement