Con-way Inc CNW missed fourth quarter earnings estimates Wednesday, posting revenue growth of 6 percent.
The Menlo Park, California-based trucking company changed hands in the extended session recently at $41.01, down more than 2 percent.
Adjusted profit rose to $0.41 a share, from $0.23 a share a year earlier, while revenue grew nearly 6 percent to $1.44 billion, from $1.37 billion last year.
But Wall Street expected earnings of $0.45 a share, on revenue of $1.45 billion.
Net income for the recent period rose to $24.9 million, or $0.43 a share, from $11.7 million, or $0.20 a share last year.
Operating income growth of nearly 24 percent -- to $41.3 million -- included $5.1 million of foreign-exchange loss.
Freight segment revenue rose nearly 6 percent to $897.2 million, and benefited from stable demand and pricing, according to Chief Executive Douglas W. Stotlar.
Fourth quarter logistics revenue grew 9.2 percent to $433.8 million, and truckload revenue increased 2.3 percent to $152.3 million.
The company didn't immediately offer an outlook.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.