Con-Way, Inc. CNW reported 2Q EPS of $0.22 (after applying favorable tax impact), just below Dahlman Rose's estimate of $0.23, leaving open clarity for pricing and operating cost issues during the upcoming earnings call.
The 2Q included a better than expected 31.7% tax rate, compared with Dahlman's estimated 43.5%, which was factored into the reported EPS. Revenue increased 24% to $1.31B, attributed some to the company's additional freight and heightened focus on pricing, according Dahlman.
Dahlman maintains its "buy" rating and price target of $39.
Con-Way, Inc. closed yesterday at $33.37.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: Analyst ColorEarningsNewsMarketsAnalyst RatingsCon-Way Inc.Dahlman RoseIndustrialsTrucking
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in