Arkansas Best Reports First-Quarter Loss
Arkansas Best Corp. reported a first-quarter loss, as higher revenue and tonnage at its less-than-truckload unit ABF Freight System were offset by higher wage and benefit costs.
The company reported a loss of $13.4 million, or 52 cents a share, compared with a loss of $18.2 million, or 71 cents, a year ago.
Revenue jumped 18% to $520.7 million, Arkansas Best said Tuesday.
through the end of May.
“A new labor contract, with lower more competitive costs, is a critical element in allowing ABF to effectively compete in a drastically different LTL marketplace,” Arkansas Best CEO Judy McReynolds said in a statement.
Arkansas Best Corp. is ranked No. 13 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.