July 22, 2009: Less-than-truckload carrier ABF Freight System lost $15.4 million in the second quarter, the company said July 21, on steep declines in volume and pricing in the trucking business.
The loss was better than the $18.2 million the Fort Smith, Ark.-based carrier lost in the first quarter, but the 17 percent slide in tonnage and the 13.1 percent drop in yield, a signal of eroding pricing, were far worse in the quarter ending June 30 than earlier in the year.
Click here to read more at The Journal of Commerce.
Do you like this post?