Con-way Inc. said it had 2012 second-quarter profit of $41.8 million, compared to $29.4 million in the same period last year.
Revenue for the 2012 second quarter (after intersegment eliminations) was $1.45 billion, a 7.2 percent
increase from last year’s second-quarter revenue of $1.35 billion.
The company said Con-way Freight, its less-than-truckload (LTL) operation, saw revenue climb 4.6 percent to $878.5 million and operating income increase 36.5 percent to $53.4 million. It said results reflected continued price improvement, operating efficiency, cost control, and $3.9 million of gains from the sale of excess properties.
Menlo Worldwide Logistics, the company’s global logistics and supply chain management operation, saw revenues rise 13.7 percent to $448.0 million. Operating income was up 4.9 percent to $12.7 million. New business revenues, increased freight brokerage volumes and gains from warehousing and
transportation management services contributed to the higher revenues.
Con-way Truckload reported revenue of $162.9 million, a 4.8 percent increase over last year’s second quarter. Operating income was $14.6 million, a 41.6 percent increase. Improved fuel surcharge recovery, price increases and higher asset utilization contributed to the increased operating income. – Chris Dupin
Con-way reports higher 2Q profit
