Arkansas Best Cuts 2Q Loss in Half
Arkansas Best Corp. said Wednesday its second-quarter loss was half that of a year ago, as revenue and tonnage improved.
The company lost $7.4 million, or 30 cents a share, compared with a loss of $15.4 million, or 62 cents, a year ago.
Revenue rose to $411.3 million, a 13.4% per-day increase from $362.6 million a year ago.
“We have been encouraged by the modest, but positive, pricing trend during the quarter,” Chief Executive Officer Judy McReynolds said in a statement.
“Recent competitor commentary suggests that there is a renewed industry focus on improved pricing and better operating margins,” she said.
Less-than-truckload unit ABF Freight’s revenue rose 10.4% per-day to $379.4 million, while total tonnage per day rose 11.9% from a year ago and 14% from the first quarter of this year.
Arkansas Best Corp. is ranked No. 17 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
