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ArcBest president and chief executive officer Judy R. McReynolds has been elected chairman of the board of directors, succeeding Robert A. Young, who is retiring.
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Earnings season continues this week and with it are the first numbers from major trucking suppliers, such as Meritor, Eaton and Wabash National, in addition to those from trucking operations ArcBest and C.H. Robinson.
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More trucking companies have released their third quarter financial earnings, showing improvements from a year earlier or at least maintaining their ground, despite complaints about the recent freight-hauling environment.
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With record second-quarter revenue, ArcBest's net income rose to $20 million, or 74 cents per diluted share, from $17.2 million, or 64 cents per diluted share a year earlier.
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ArcBest Corp. on Monday announced it was back in the black during the first quarter for the first time in seven years, reporting first quarter net income of $700,000 or 3 cents per share.
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The parent company to trucking operations ABF Freight, Panther Premium Logistics and others reported profit increased 41% in the final quarter of 2014 while it nearly tripled for all of last year.
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ABF Logistics acquired the privately held truckload brokerage firm Smart Lines Transportation Group for $5.17 million in cash. The acquisition of the Oklahoma City-based company will expand ABF's third-party logistics operations into the Oklahoma City market.
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Trucking and logistics holding company ArcBest Corp. has reported improved third quarter 2014 results, reflecting business growth at ABF Freight and all of its emerging companies.
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The American Transportation Research Institute named Judy McReynolds as its new chairman of the board, succeeding Steve Williams, CEO of Maverick Transportation.
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The president and CEO of the trucking company ABF Freight System, Roy M. Slagle, retired on Wednesday following 37 years of service.
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