Arkansas Best Swings to 2Q Profit

Arkansas Best Corp. Tuesday reported a second-quarter profit compared with a loss a year ago on stronger freight tonnage and pricing.

Net earnings were $5.3 million, or 20 cents a share, compared with loss of $7.4 million, or 30 cents, a year ago.

Revenue rose to $498.6 million, a 21.2% per-day increase over last year, the company said in a statement.

ABF Freight System, the company’s less-than-truckload operation and largest business unit, reported operating income of $8.2 million, turning around a $12.6 million operating loss, as revenue rose 20.8% to $458.5 million.

Tonnage per day rose 9.9%. ABF, along with other LTL carriers, last month set a 6.9% rate increase.

Arkansas Best Corp. is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.