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  1. #1
    ENOUGH I'VE HAD ENOUGH!!!

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    Default Arkansas Best Q1 loss wider than expected

    April 23 (Reuters)

    Less-than-truckload carrier Arkansas Best Corp (ABFS.O) posted a wider-than-expected quarterly loss as an increase in tonnage failed to offset weak pricing.

    Its first-quarter net loss was $21.4 million, or 85 cents a share, compared with $18.2 million, or 73 cents a share, a year ago.

    Revenue rose 6 percent to $359.9 million and tonnage per day at its largest unit, ABF Freight, increased 3.3 percent.

    Analysts were expecting a loss of 63 cents a share on revenue of $353.5 million, according to Thomson Reuters I/B/E/S.

    "In order for ABF's operating results to improve in a meaningful way, we need further increases in freight demand, strong improvements in pricing and the positive financial impact of wage concessions," said CEO Judy McReynolds in a statement.
    http://www.reuters.com/article/idUSS...pe=marketsNews

  2. #2
    I Am Rocking Now

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    Default Re: Arkansas Best Q1 loss wider than expected

    We all knew that was coming. Everything is all lined up now.

  3. #3
    Super Moderator

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    Default Re: Arkansas Best Q1 loss wider than expected

    Amazing what the high school bookkeepers can do...

  4. #4
    Steward

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    Sep 2009
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    ABF Freight
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    iowa
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    Default Re: Arkansas Best Q1 loss wider than expected

    I've been saying all along that this company has been doing some really stupid things this past year. I've been here over 20 years and have never seen them operate like they have been. One thing you can be assured of is that if this vote goes thru you'll see a about face overnight. Granted they will now if this goes thru bring there OR down but to what number and how close so they don't have to pay out the so called bonus to the teamsters. They have posted on the ABF Info site that they will not use this wage cut to go on a price war and try to buy new business. Need it to line the pockets back up so they can buy the non union companies or start one. They have stated that after being the only company out there last time without a nonunion carrier that it would not happen again. This may be there plot into the future get set up now and no contract in 2013 needed as have opportunities in place. We as teamsters may have been backed up against a wall now but lets hope that if in the future coming that we will have backing to support our new fight for the future. Lets all stand tall and proud and continue our mission, to be the Proud Teamsters we once were.

  5. #5
    Getting In The Groove Now.

    Join Date
    Nov 2009
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    251-RET
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    ABF
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    Florida
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    Default Re: Arkansas Best Q1 loss wider than expected

    Revenue up 6%
    Tonnage up 3.3%
    Ability to show greater loss....PRICELESS

  6. #6
    Getting In The Groove Now.

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    USA
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    Default Re: Arkansas Best Q1 loss wider than expected

    Some of the company propaganda I have seen stated that the company expected to contine losing 10 million per month. That should have been 30 mil. loss in the first 1/4. Their headline should have read "ABF 1st 1/4 loss 9 million less than expected"

  7. #7
    ENOUGH I'VE HAD ENOUGH!!!

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    Default Re: Arkansas Best Q1 loss wider than expected

    ABFgearjammer, welcome to TeamstersOnline.

 

 

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