ABF Reports 14 Percent Revenue Increase

John Lovett
Times Record
July 31, 2014

Fort Smith-based ArcBest Corp. reported a 14-percent increase in revenue for this year’s second quarter led by performances at its two largest operating companies, ABF Freight and Panther Premium Logistics.

ArcBest’s second-quarter 2014 revenue was $658.6 million compared to revenue of $576.9 million in the second quarter of 2013, an increase of 14 percent. Second-quarter net income was $17.2 million compared to second-quarter 2013 net income of $4.9 million. On a per-share basis, this represents ArcBest’s most profitable quarter in six years, a news release states.

At ABF Freight, second-quarter revenue rose to $492.9 million from $446.8 million, while operating income increased to $22.8 million from $5.5 million in second quarter 2013. Cost as a percentage of revenue improved to 95.4 percent following implementation of the new labor agreement in November 2013, compared with 98.8 percent in the year-ago period.

ArcBest’s emerging, non-asset-based businesses, including Panther, grew combined revenues at a rate of 28 percent. During the second quarter, these businesses equaled 27 percent of total consolidated revenue compared to 24 percent during the same period last year. Second quarter 2014 earnings before interest, taxes, depreciation and amortization (EBITDA) at the non-asset-based businesses was $10.2 million, an increase of 47 percent compared to EBITDA in the second quarter of 2013.

“Our second-quarter results improved significantly from both the first quarter of 2014 and the year-ago quarter, which was welcome news as we emerged from the harsh winter weather earlier this year,” ArcBest President and CEO Judy R. McReynolds stated in the release.

McReynolds noted as the economy picked up in the second quarter, ABF Freight saw better pricing conditions and a positive impact from the new labor agreement with the Teamsters union.

“Panther reported one of the strongest quarters in its history,” she stated. “We are also seeing more customers buying at the enterprise level, when they require two or more ArcBest services.”

McReynolds said the company’s new brand identity, logos, advertising campaign and tagline, “The Skill & The Will” — which were launched on April 30 — have been well-received by customers and employees. A new website, TheSkillandTheWill.com, will be launched in early August to tell the stories of customers who have “benefited from employees’ willingness to go above and beyond, every day, to solve complex logistics challenges,” and “the broader story of the company’s culture through the eyes of the customer,” McReynolds said.

- See more at: http://swtimes.com/business/arcbest-reports-14-percent-revenue-increase#...

Fort Smith-based ArcBest Corp. reported a 14-percent increase in revenue for this year’s second quarter led by performances at its two largest operating companies, ABF Freight and Panther Premium Logistics.

ArcBest’s second-quarter 2014 revenue was $658.6 million compared to revenue of $576.9 million in the second quarter of 2013, an increase of 14 percent. Second-quarter net income was $17.2 million compared to second-quarter 2013 net income of $4.9 million. On a per-share basis, this represents ArcBest’s most profitable quarter in six years, a news release states.

At ABF Freight, second-quarter revenue rose to $492.9 million from $446.8 million, while operating income increased to $22.8 million from $5.5 million in second quarter 2013. Cost as a percentage of revenue improved to 95.4 percent following implementation of the new labor agreement in November 2013, compared with 98.8 percent in the year-ago period.

ArcBest’s emerging, non-asset-based businesses, including Panther, grew combined revenues at a rate of 28 percent. During the second quarter, these businesses equaled 27 percent of total consolidated revenue compared to 24 percent during the same period last year. Second quarter 2014 earnings before interest, taxes, depreciation and amortization (EBITDA) at the non-asset-based businesses was $10.2 million, an increase of 47 percent compared to EBITDA in the second quarter of 2013.

“Our second-quarter results improved significantly from both the first quarter of 2014 and the year-ago quarter, which was welcome news as we emerged from the harsh winter weather earlier this year,” ArcBest President and CEO Judy R. McReynolds stated in the release.

McReynolds noted as the economy picked up in the second quarter, ABF Freight saw better pricing conditions and a positive impact from the new labor agreement with the Teamsters union.

“Panther reported one of the strongest quarters in its history,” she stated. “We are also seeing more customers buying at the enterprise level, when they require two or more ArcBest services.”

McReynolds said the company’s new brand identity, logos, advertising campaign and tagline, “The Skill & The Will” — which were launched on April 30 — have been well-received by customers and employees. A new website, TheSkillandTheWill.com, will be launched in early August to tell the stories of customers who have “benefited from employees’ willingness to go above and beyond, every day, to solve complex logistics challenges,” and “the broader story of the company’s culture through the eyes of the customer,” McReynolds said.

- See more at: http://swtimes.com/business/arcbest-reports-14-percent-revenue-increase#...

Fort Smith-based ArcBest Corp. reported a 14-percent increase in revenue for this year’s second quarter led by performances at its two largest operating companies, ABF Freight and Panther Premium Logistics.

ArcBest’s second-quarter 2014 revenue was $658.6 million compared to revenue of $576.9 million in the second quarter of 2013, an increase of 14 percent. Second-quarter net income was $17.2 million compared to second-quarter 2013 net income of $4.9 million. On a per-share basis, this represents ArcBest’s most profitable quarter in six years, a news release states.

At ABF Freight, second-quarter revenue rose to $492.9 million from $446.8 million, while operating income increased to $22.8 million from $5.5 million in second quarter 2013. Cost as a percentage of revenue improved to 95.4 percent following implementation of the new labor agreement in November 2013, compared with 98.8 percent in the year-ago period.

ArcBest’s emerging, non-asset-based businesses, including Panther, grew combined revenues at a rate of 28 percent. During the second quarter, these businesses equaled 27 percent of total consolidated revenue compared to 24 percent during the same period last year. Second quarter 2014 earnings before interest, taxes, depreciation and amortization (EBITDA) at the non-asset-based businesses was $10.2 million, an increase of 47 percent compared to EBITDA in the second quarter of 2013.

“Our second-quarter results improved significantly from both the first quarter of 2014 and the year-ago quarter, which was welcome news as we emerged from the harsh winter weather earlier this year,” ArcBest President and CEO Judy R. McReynolds stated in the release.

McReynolds noted as the economy picked up in the second quarter, ABF Freight saw better pricing conditions and a positive impact from the new labor agreement with the Teamsters union.

“Panther reported one of the strongest quarters in its history,” she stated. “We are also seeing more customers buying at the enterprise level, when they require two or more ArcBest services.”

McReynolds said the company’s new brand identity, logos, advertising campaign and tagline, “The Skill & The Will” — which were launched on April 30 — have been well-received by customers and employees. A new website, TheSkillandTheWill.com, will be launched in early August to tell the stories of customers who have “benefited from employees’ willingness to go above and beyond, every day, to solve complex logistics challenges,” and “the broader story of the company’s culture through the eyes of the customer,” McReynolds said.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

1,500 Kroger Teamsters Exit the Central States Fund

Teamster employed at three Kroger warehouses and two dairies have been removed from the Central States Fund, in an arrangement similar the removal of 44,000 UPS Teamsters in 2007.  

The Push is On for Butch Lewis Act

Today, at a press conference held in Washington D.C., Mike Walden, president of the National United Committee to Protect Pensions (NUCPP), reminded the assembled press and Congressional staffers, Senators and House Representatives, delegations of Teamsters and Mineworker retirees, of Butch Lewis’s remark, “A promise is a promise is a promise.” It’s that promise that this movement has grown to defend. And it’s happening loud and strong as we reach for the new law that will protect that promised retirement security.

View More News Posts