CNF Reports Increase in Income, Revenue
ransportation firm CNF Inc. said its first-quarter income rose 19% to $29.1 million or 52 cents a share, up from $24.4 million or 45 cents a year earlier.
The company’s revenue rose to $947.7 million, from $846.9 million a year earlier.
CNF on April 11 had raised its earnings outlook to 66 to 69 cents per share, up from a previous 57- to 65-cent estimate.
CNF’s Menlo Worldwide logistics unit, which includes Menlo Logistics and Vector SCM, saw its operating income increase 15% to $9.7 million, the company said.
CNF is ranked No. 4 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.
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