Con-Way Posts 24% Increase In 2Q Revenue

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.