The $4.3 billion freight transportation and logistics services
The $4.3 billion freight transportation and logistics services company Con-way has published its third quarter figures and it shows how the logistics market is fairing so far this year. Con-way's less than truckload (LTL) business increased over 13 percent in revenue over last year, while weight per day increased almost 9 percent. Although the company says that the figures were affected by external factors which raised operating costs, and shipper demand that leveled out towards the end of the quarter.
Con-way has been cognizant to reduce costs within their LTL business while the market continues to adjust. The company had a number of factors which reduced profitability in the quarter such as higher purchased transportation, temporary labor and rental equipment expenses. In addition, Con-way was hit by severance and office consolidation costs which further reduced the ability to report higher profitability.
Con-way has been cognizant to reduce costs within their LTL business while the market continues to adjust. The company had a number of factors which reduced profitability in the quarter such as higher purchased transportation, temporary labor and rental equipment expenses. In addition, Con-way was hit by severance and office consolidation costs which further reduced the ability to report higher profitability.
