What's new

New Penn | YRC not the only one hurting!

N

NP Driver1

Guest
Updated:

Con-way Reports Fourth-Quarter Loss
Carrier Suspends Guidance, Freezes Administrative Pay

Click here to write a Letter to the Editor.

Con-way Inc. late Monday reported a fourth-quarter loss, suspended its full-year earnings outlook and set a pay freeze for management and administrative employees.

The carrier reported a fourth-quarter loss from continuing operations of $49.7 million, or $1.09 a share, compared with earnings from continuing operations of $36.9 million, or 78 cents, a year earlier.

Revenue fell to $1.13 billion, from $1.2 billion a year earlier.

For the full-year, Con-way reported net income from continuing operations of $58.6 million, or $1.23 per share, compared with $146.8 million, or $3.06, a year earlier. Both years included the effect of special charges.

Last month, Con-way lowered its estimate of full-year earnings from continuing operations to between $2.20 and $2.35 per share, from a previous forecast of $2.60 to $2.80.

Due to the uncertainty of the global economy and lack of visibility into future business volumes and market trends, the company said it was suspending its practice of providing annual earnings guidance.

Con-way is ranked No. 6 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.



By Transport Topics
 
ok ok..i see your point,but brother your comparing apples to rotting oranges here..
con-way has stubbed its toe that may require ice and some rest...Us on the other hand
are totally screwed...and the doctor has said only a miracle will save us...feb 16...its a pulsating number in my brain...another date and another day of uncertainty...
 
Think positive. I posted this to point out that we (YRC owned company employees) are not the only ones facing an uncertain future. As long as we work smart and give 100% every day I will continue to believe we will come out of this OK. New Penn Proud is the only way to go!
 
New Penn Proud!

We are all New Penn Proud brother! Do whatever you have to do to survive until called back full time. As a fellow member of the layoff list I use some of my free time posting current info on this forum. I refuse to let anyone stick a fork in New Penn, or even YRC! WE ARE NOT DONE YET!
 
got to say it's good to here anybody saying what used to be a given, NEW PENN PROUD, maybe the hardtimes will get even us back to the basics. if you truely watch was goes on in the ltl business, you can see no one can come close to us, if we all give it our best. unfortunetly, hard work isn't whats considered a cool thing these days.
 
You must log in or register to reply here.
Top