Con-way Earnings: Here’s Why the Stock is Down Now
Con-way Inc. (NYSE:CNW) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.02%.
Con-way Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 57.78% to $0.19 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Decreased 2.2% to $1.34 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Con-way Inc. reported adjusted EPS income of $0.19 per share. By that measure, the company missed the mean analyst estimate of $0.27. It missed the average revenue estimate of $1.39 billion.
Quoting Management: Commenting on the quarter’s results, Douglas W. Stotlar, Con-way’s president and CEO, said, “On a consolidated basis, our first quarter 2013 results were below our expectations and therefore were disappointing. However, the first quarter also provided further validation that our efforts to expand margins are gaining traction and moving in the right direction.”
Key Stats (on next page)…