Con-way Fourth Quarter Income Flat
Trucking and logistics provider Con-way has reported 2013 fourth-quarter net income of $11.7 million or 20 cents per share, compared to a year ago performance of $11.8 million or 21 cents per share.
Trucking and logistics provider Con-way has reported 2013 fourth-quarter net income of $11.7 million or 20 cents per share, compared to a year ago performance of $11.8 million or 21 cents per share.
Revenue for the fourth quarter was $1.36 billion, unchanged from last year’s fourth quarter.
“Con-way Freight and Menlo Worldwide Logistics dealt with a number of issues in the fourth quarter, which negatively affected the period’s operating results and were mostly specific to the quarter,” said Douglas W. Stotlar, Con-way’s president and CEO of the Michigan-based operation.
For the full-year Con-way reported net income of $99.2 million or $1.73 per share, compared to $104.5 million or $1.85 per share in 2012.
For the fourth quarter of 2013, Con-way Freight, the company’s less-than-truckload operation, reported revenue of $847 million, a 2.7% increase over last year’s fourth-quarter revenue of $824.7 million. The revenue growth was primarily attributable to higher tonnage levels and improved yield, according to the company
Operating income was $23.8 million, a 10.5% increase over the $21.5 million earned in the year-ago period.
Menlo Worldwide Logistics, the company’s global logistics and supply chain management operation, reported fourth quarter revenue of $397.1 million, down 7.9% from the prior-year fourth-quarter revenue of $431.2 million. Lower revenue primarily reflected a decline in transportation-management services partially offset by an increase in warehouse-management services, the company said.
Operating income was $2.7 million, compared to last year’s fourth-quarter operating income of $8.6 million.
For the fourth quarter of 2013, Con-way Truckload reported revenue of $155.8 million, compared to last year’s fourth-quarter revenue of $155.2 million. Higher revenue included the effects of a 1.2 percent increase in loaded miles and a 0.8 percent increase in revenue per loaded mile, excluding fuel surcharge. These increases were partially offset by lower fuel-surcharge revenue, according to the company
Operating income was $8.9 million, an increase over the $8.5 million earned in the previous-year period.
More information is on the Con-way website.
More Fleet Management
Adam Buttgenbach’s Approach to Electric Trucks: Start With Where They Fit
HDT Truck Fleet Innovator Adam Buttgenbach helped PepsiCo build one of North America’s largest EV fleets by focusing on where electric trucks make operational sense.
Read More →
Deen Albert: Let Automation Do the Math, People Make the Decisions
HDT Truck Fleet Innovator Deen Albert makes sure people are still at the heart of operations at Grand Island Express, even while adopting artificial intelligence tools. AI-assisted dispatch helped boost revenue 25% with the same number of trucks.
Read More →
Trimble’s New AI Agent Takes Aim at Fleet Back-Office Busywork
Arc Agent works across Trimble TMS products to automate repetitive tasks such as freight orders, maintenance, invoices, fuel costs and more.
Read More →
How HDT’s 2026 Truck Fleet Innovators Are Rethinking Fleet Operations
Meet five trucking leaders who are challenging assumptions, solving operational problems, and putting innovative ideas to work.
Read More →
Tight Trucking Capacity Pushes Rates Higher Even as Freight Volumes Fall
“Spot rates moving ahead of contract rates have historically signaled a tightening market, but we haven’t seen a capacity-driven market quite like this one,” said DAT's Dean Croke.
Read More →
Import Cargo’s Early Peak Season is Winding Down
There was an early start to peak season this year at the nation's gateway ports, as retailers brought in merchandise ahead of tariff changes in late July and responded to other supply chain uncertainties,
Read More →
Fewer Cargo Thefts, Bigger Losses: Criminals Target Higher-Value Loads
CargoNet says organized theft rings are stealing fewer shipments but choosing more valuable freight, including metals and technology, resulting in record losses.
Read More →
How Innovative Trucking Leaders Turn Change Into an Advantage
As the pace of change accelerates in trucking, the fleets that adapt best have more than the latest technology. They have cultures that embrace improvement.
Read More →
Freight Broker Bonds Just Got Harder to Get. Here's What That Means for Your Fleet.
When it gets harder for a freight broker to prove they are financially sound, the ones who cannot clear that bar get pushed out of the market. And those are exactly the brokers who used to leave motor carriers holding the bag.
Read More →
Long-Awaited Canadian Border Bridge to Open in Detroit
For trucking, the bridge opening should offer immediate improvements in efficiency and reliability, with new customs facilities, expanded inspection capacity, and direct freeway-to-freeway connections.
Read More →