Con-way's 4Q Profit Plummeted Nearly 50 Percent

Con-way's 4Q Profit Plummeted Nearly 50 Percent

Ann Arbor, Mich.-based Con-way reported its net income in the fourth quarter of 2012 was $11.8 million, plummeting 48.7 percent from $23.0 million in the fourth quarter of 2011.

However, for the full year of 2012, its profit was $104.5 million, increasing 18.2 percent from $88.4 million.

Menlo Worldwide Logistics, the company’s supply chain management operation, reported revenue in the fourth quarter was $431.2 million, rising 5.5 percent from the same quarter in the previous year.

For the fourth quarter of 2012, Con-way Freight reported revenue of $824.7 million, increasing 3.6 percent year-over-year, driven primarily by improved yield and a higher fuel surcharge, partially offset by lower tonnage levels. Fourth-quarter tonnage per day declined by 3.5 percent.

Con-way Truckload posted quarterly revenue of $155.2 million, compared with $155.6 million in the fourth quarter of 2011.