Con-way Earnings: Here’s Why the Stock is Rising Now
Con-way Inc. (NYSE:CNW) delivered a profit and beat Wall Street’s expectations, BUT 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 up 0.14%.
Con-way Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1.52% to $0.67 in the quarter versus EPS of $0.66 in the year-earlier quarter.
Revenue: Decreased 4.5% to $1.38 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Con-way Inc. reported adjusted EPS income of $0.67 per share. By that measure, the company beat the mean analyst estimate of $0.59. It missed the average revenue estimate of $1.45 billion.
Quoting Management: “Con-way Freight, our less-than-truckload company and largest business unit, is executing well against its key strategic initiatives of lane-based pricing and line-haul optimization,” commented Stotlar. “Improved yield and network efficiencies overcame a slight decline in tonnage to deliver increased operating income in the quarter. We are on track with our initiatives and continue to expect year-over-year margin improvement in the second half of the year.”
Key Stats (on next page)…