Con-way’s net profit dropped 13.1 percent to $25.3 million in the third quarter thanks to lower freight volumes, as well as higher health care costs.
The $5.3 billion trucking and logistics company’s revenue rose 2 percent to $1.4 billion, with less-than-truckload revenue rising 1.8 percent to $858.3 million.
LTL carrier Con-way Freight saw operating profit drop 15.4 percent year-over-year to $34.4 million, as tonnage per day declined 0.2 percent in the quarter.
Menlo Logistics reported a 13.3 percent drop in operating profit to $11 million, as revenue increased 2.6 percent to $427.8 million, the company said.
Con-way Truckload increased its profit 43.3 percent to $11.3 million, as revenue rose 0.9 percent compared with the year-ago quarter to $160.1 million.