Con-way Inc. Provides Fourth Quarter Update for Con-way Freight

Con-way Inc. CNW today provided an update on preliminary operating results for the fourth quarter of 2010 at Con-way Freight. The company's LTL unit expects to report operating income for the fourth quarter of 2010 of approximately $2 million. Operating income in the quarter was affected by health care costs, which were $11 million higher compared to expense levels in the 2010 third quarter. "The variance in fourth quarter health care costs was a significant factor in lower operating profits at Con-way Freight," said Douglas W. Stotlar, Con-way president and CEO. "While we're disappointed with these results, we are encouraged by the improvement in pricing and the progress of our operating cost reduction initiatives begun in the third quarter."