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  1. #1
    I Am Rocking Now

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    Default ABF's 'Lost' Profit

    Teamsters at ABF Freight System rejected a 15 percent wage cut in May, convinced the company could improve its bottom line without labor concessions.
    THEY WERE RIGHT -- ABF trimmed its operating loss to $2.6 million in the third quarter, after losing $35.7 million and $12.6 million in the first and second quarters.
    But the cost of rejecting those concessions is clearer now, too. The less-than-truckload carrier would have made significant gains on its competitors in the third quarter if its Teamster employees had approved the contract proposal.

    The Roundtable November 9, 2010 | Journal of Commerce
    Last edited by Docker; 11-10-2010 at 07:47 AM.

  2. #2
    I Am Rocking Now

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    Default Re: ABF's 'Lost' Profit

    They should of said that the ABF employee's were right and left it at that!Like we don't know that they could of showed a substantial profit.They really do think that we are all dumber than dirt!

  3. #3
    I Am Rocking Now

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    Default Re: ABF's 'Lost' Profit

    Quote Originally Posted by Docker View Post
    Teamsters at ABF Freight System rejected a 15 percent wage cut in May, convinced the company could improve its bottom line without labor concessions.
    THEY WERE RIGHT -- ABF trimmed its operating loss to $2.6 million in the third quarter, after losing $35.7 million and $12.6 million in the first and second quarters.
    But the cost of rejecting those concessions is clearer now, too. The less-than-truckload carrier would have made significant gains on its competitors in the third quarter if its Teamster employees had approved the contract proposal.

    The Roundtable November 9, 2010 | Journal of Commerce
    I thought that ABF only lost $700,000 plus in the 3rd quarter

  4. #4
    I Am Rocking Now

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    Default Re: ABF's 'Lost' Profit

    Quote Originally Posted by 2631 View Post
    I thought that ABF only lost $700,000 plus in the 3rd quarter
    American Chronicle | Arkansas Best Corporation Announces Improved Third Quarter 2010 Results

    FORT SMITH, Ark., Nov. 3, 2010 /PRNewswire-FirstCall/ -- Arkansas Best Corporation today announced a third quarter 2010 net loss of $0.7 million, or $0.03 per share compared to a net loss of $5.6 million, or $0.23 per share in the third quarter of 2009

  5. #5
    Taking A Stand!!!

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    Default Re: ABF's 'Lost' Profit

    2631, that is what I thought too. But I have noticed every time there is a quarterly report out, depending on what news article you read, the numbers always differ. I have noticed that with several trucking companies too, not just ABF.

  6. #6
    On A Mission

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    Default Re: ABF's 'Lost' Profit

    Quote Originally Posted by 2631 View Post
    American Chronicle | Arkansas Best Corporation Announces Improved Third Quarter 2010 Results

    FORT SMITH, Ark., Nov. 3, 2010 /PRNewswire-FirstCall/ -- Arkansas Best Corporation today announced a third quarter 2010 net loss of $0.7 million, or $0.03 per share compared to a net loss of $5.6 million, or $0.23 per share in the third quarter of 2009
    Funny numbers...The truth is hard to find anymore.

  7. #7
    Life is Good

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    Default Re: ABF's 'Lost' Profit

    Is one number Arkansas Best Corp. .7 million , ABF Freight Systems. 2.6 million?

  8. #8
    Taking A Stand!!!

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    Default Re: ABF's 'Lost' Profit

    Quote Originally Posted by Elk222 View Post
    Is one number Arkansas Best Corp. .7 million , ABF Freight Systems. 2.6 million?
    Elk222, you just might be right on that one! Makes sense.

  9. #9
    Getting In The Groove Now.

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    Default Re: ABF's 'Lost' Profit

    Well I guess without concessions I will take a 2.6 million loss over 60 million loss with concessions. I guess the eggheads at the fort might be doing their job.

  10. #10
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    Default Re: ABF's 'Lost' Profit

    Quote Originally Posted by 2631 View Post
    I thought that ABF only lost $700,000 plus in the 3rd quarter

    They had a third quarter 2010 "NET" loss of $0.7 million but had a operating loss of $2.6 million.That's just ABF not ABC.You have to remember that we have a bookkeeper at the helm now...lol


    (Fort Smith, Arkansas, November 3, 2010) – Arkansas Best Corporation (Nasdaq: ABFS) today announced a third quarter 2010 net loss of $0.7 million, or $0.03 per share compared to a net loss of $5.6 million, or $0.23 per share in the third quarter of 2009.

    Third Quarter 2010

    Revenue of $409.9 million compared to $369.8 million in 2009, a per-day increase of 10.9%
    Tonnage per day increase of 13.9% versus third quarter of 2009 and a sequential increase of 6.9% versus second quarter 2010
    Total billed revenue per hundredweight of $23.38 compared to $23.98 in second quarter 2009, a decrease of 2.5%
    Operating loss of $2.6 million compared to operating loss of $14.0 million in third quarter 2009
    Operating ratio of 100.6% compared to 103.8% in third quarter of 2009

    http://www.abfs.com/about/news/2010/p110310.asp?bhcp=1


    http://www.abfs.com/about/news/2010/p110310.asp?bhcp=1

    http://www.abfs.com/cmsPDF/3Q10FINANCIALS.pdf
    Last edited by Docker; 11-10-2010 at 09:02 PM.

 

 
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