Arkansas Best’s 3Q Loss Narrows
Arkansas Best Corp. Wednesday said its third-quarter loss was narrower than a year ago as tonnage improved at its ABF Freight System less-than-truckload unit.
The company reported a loss of $749,000, or 3 cents a share, compared with a loss of $5.6 million, or 23 cents, a year ago.
Revenue rose 12% to $445.5 million, said Arkansas Best, which has reported a loss of $7.4 million, or 30 cents a share, in the second quarter.
ABF Freight’s LTL tonnage per day rose 13.9%, while revenue improved 11% to $409.9 million.
On Monday, the company said it was suing units of competiting LTL carrier YRC Worldwide and the Teamsters union over a proposed agreement for wage reductions at YRC that ABF said were in violation of the National Master Freight Agreement covering unionized truckers. (Click here for previous coverage.)
Arkansas Best is ranked No. 16 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
