Con-way Profit Falls, Yet Tops Street

(RTTNews) - Transportation and logistics company Con-way Inc (CNW) Wednesday reported first-quarter net earnings of $13 million or $0.22 per share compared with $14 million or $0.25 per share last year.

Excluding items, adjusted earnings for the quarter were $0.20 per share compared with $0.18 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Results were impacted by an increase in tax provision to $6.3 million from $2.8 million last year.

Revenues for the quarter were $1.37 billion compared with $1.34 billion in the prior year. Analysts estimated revenues of $1.36 billion.

CEO Douglas Stotlar said: "The harsh weather clearly impacted our first quarter results. However, we exited the quarter in a strong demand environment with improving operating fundamentals."