ABF’s 1Q Profit Declines

Arkansas Best Corp. said Wednesday its first-quarter net income fell to $4.8 million or 19 cents a share, from $6.1 million or 24 cents a year ago.

The parent of less-than-truckload carrier ABF Freight System’s revenue dipped to $422.6 million from $425 million in last year’s first quarter.

Tonnage hauled by less-than-truckload unit ABF Freight System, the company’s largest subsidiary, fell almost 6%, while billed revenue per shipment rose by nearly 3%.

ABF Freight Systems’ revenue fell to $407.4 million, a per-day decrease of 1.5%, compared with $413.7 million last year.

Arkansas Best Corp. is ranked No. 17 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.