Drivers

Arkansas Best's 4Q Reflects Weak Freight Environment

January 28, 2010

SHARING TOOLS        | Print Subscribe
Arkansas Best Corporation's fourth quarter was impacted by the weak and uncertain freight environment, with a net loss of $88.7 million, or $3.54 a share, versus a net loss of about $10.97 million for the year-ago period.
Arkansas Best's LTL subsidiary, ABF Freight System, lost $32.4 million during the fourth quarter.
Arkansas Best's LTL subsidiary, ABF Freight System, lost $32.4 million during the fourth quarter.


"This economic recession has been unprecedented in its length and depth," said Judy R. McReynolds, Arkansas Best president and CEO. "Its impact on the LTL industry has accelerated the level of price competition throughout 2009, and the fourth quarter was no exception."

The company's revenue for the quarter was $371.6 million, down from $391.2 million during the 2008 quarter.

ABF Freight System, the less-than-truckload subsidiary of Arkansas Best, posted an operating loss of $32.4 million, versus a loss of $15.2 million in the fourth quarter of 2008. Revenue was down to $347.7 million compared to $375.2 million in the fourth quarter 2008. Tonnage per day fell 1.6 percent compared to the year-ago quarter.

"Although the economy has presented us with extreme challenges, the strength of our balance sheet and the depth and experience of the ABF team have allowed us to continue our focus on enhancing our services to customers," said McReynolds. "A high standard of dependability, superior cargo care and adaptability to customer-specific requirements are the important elements of that focus."

Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.

GotQuestions?

ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All