Con-way Reports $31.5 Million Profit - Truckers' Trucking Forum

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07.25.2009

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Con-way Reports $31.5 Million Profit

Con-way Reports $31.5 Million Profit

Revenue tops $1 billion as LTL unit demand edge up,

Quote:

Trucking and logistics company Con-way returned to profitability in the second quarter, reporting $31.5 million in net income on $1.1 billion in revenue. The company lost $153 million in the first quarter, on $962.9 million in revenue.

Sequential month-to-month growth in freight volume and demand for logistics services helped lift the company despite the recession and pressure from customers to lower its rates. Con-way also credited savings from cost-cutting initiatives, including layoffs and salary and wage reductions.

Overcapacity in the less-than-truckload and truckload markets is keeping a lid on pricing, however, limiting the company's ability to improve its yield.

more here>> Con-way Reports $31.5 Million Profit

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