• ITVI.USA
    15,353.780
    -79.690
    -0.5%
  • OTLT.USA
    2.732
    0.005
    0.2%
  • OTRI.USA
    20.880
    0.030
    0.1%
  • OTVI.USA
    15,332.660
    -75.700
    -0.5%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,353.780
    -79.690
    -0.5%
  • OTLT.USA
    2.732
    0.005
    0.2%
  • OTRI.USA
    20.880
    0.030
    0.1%
  • OTVI.USA
    15,332.660
    -75.700
    -0.5%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
American Shipper

ABF hit with $13 million loss in 1Q

   Despite a nearly $80 million boost in revenues, year over year, and a 4.2-percent rise in tonnage, Arkansas Best turned in a first-quarter net loss of $13.4 million.
   The result, however, was an improvement over 2012’s first-quarter net loss of $18.2 million.
   ABF officials pointed to the less-than-truckload carrier’s high cost structure as an impact on results. The company recently entered a second month-long contract extension while it strives to achieve a long-term labor agreement. The carrier is trying to revise the contract’s status quo, which officials have said led to $250 million in losses in the last three years. The unions say ABF officials are demanding, among other things, a 6.5-percent pay reduction along with cuts to healthcare and pensions.
   ABF president Judy R. McReynolds said the carrier is well-positioned moving forward and the seasonally weak first-quarter will soon be put behind it. Labor talks have also weighed on her mind, and she pointed to a new agreement with lower costs is needed for the carrier to compete in the new LTL market.
   “First-quarter revenue and operating income at our emerging businesses reflected growth and improvement, as we invested heavily in these businesses during 2012. They represent a critical piece of Arkansas Best’s strategy to achieve sustained profitability,” McReynolds said in a statement. “The investments made so far have improved the financial performance of these subsidiaries and strengthened their service offerings.” – Jon Ross

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