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  • Bonus

    Many ABF Teamsters are wondering if there will be a bonus coming their way soon.

    I guess we will find out that tomorrow. Right now… it looks like you just might…

    1st Quarter - Operating income of $13.2 million and an operating ratio of 97.4 percent compared to the prior year quarter operating income of $13.6 million and an operating ratio of 97.3 percent. On a non-GAAP basis, operating income of $17.8 million and an operating ratio of 96.5 percent compared to the prior year quarter operating income of $15.4 million and an operating ratio of 96.9 percent.

    2nd Quarter - Operating income of $21.0 million and an operating ratio of 95.4 percent compared to the prior year quarter operating income of $36.2 million and an operating ratio of 93.5 percent. On a non-GAAP basis, operating income of $25.8 million and an operating ratio of 94.4 percent compared to the prior year quarter operating income of $38.9 million and an operating ratio of 93.0 percent.

    3rd Quarter - Operating income of $36.6 million and an operating ratio of 93.5 percent compared to the prior year quarter operating income of $31.7 million and an operating ratio of 94.4 percent. On a non-GAAP basis, operating income of $42.8 million and an operating ratio of 92.4 percent compared to the prior year quarter operating income of $38.5 million and an operating ratio of 93.2 percent.
    So far... that's an OR of 95.4% for the year and you have to be under a 96% for the year.

    Like I said… we will find out tomorrow...

    ORT SMITH, Arkansas, January 8, 2021 — ArcBest® (Nasdaq: ARCB) will announce its fourth quarter 2020 financial results prior to the opening market on Tuesday, February 2, 2021.
    https://arcb.com/about/news-events/p...onference-call
    Good luck!!!

  • #2
    Re: Bonus

    I'm pleased to announce that you guys got a bonus...

    ASSET BASED - Full Year 2020 Versus Full Year 2019

    Revenue of $2.09 billion, compared to $2.14 billion, an average daily decrease of 3.0 percent.

    Tonnage per day decrease of 0.4 percent.

    Shipments per day decrease of 4.1 percent.

    Total billed revenue per hundredweight decrease of 2.4 percent impacted by lower fuel surcharges and freight mix changes versus prior year. Revenue per hundredweight on traditional published LTL-rated business, excluding fuel surcharge and transactional LTL-rated shipments, improved by a percentage in the mid-single digits.

    Operating income of $98.9 million compared to $102.1 million. On a non-GAAP basis, operating income of $121.3 million compared to $118.8 million.

    Profit-sharing bonus to union-represented ABF Freight employees of $5.0 million, consistent with 2019.

    ABF Freight will pay a profit-sharing bonus to union-represented employees. As provided for in the 2018 collective bargaining agreement, the bonus is the result of achieving a 95.3 percent ABF Freight operating ratio in 2020. “I’m proud of our ABF Freight team and I’m very pleased we are able to pay this bonus,” said McReynolds.



    https://arcb.com/about/news-events/p...r-2020-results
    But… something doesn't sound right...

    Notice how they conveniently left out the 4th Quarter operating ratio…

    Asset Based - Fourth Quarter 2019 Versus Fourth Quarter 2018

    Revenue of $554.4 million compared to $513.3 million, a per-day increase of 8.0 percent.

    Total tonnage per day increase of 7.8 percent, with a double-digit percentage increase in LTL-rated tonnage partially offset by a double-digit percentage decrease in TL-rated spot shipment tonnage moving in the Asset-Based network.Total shipments per day increase of 2.8 percent.

    Total weight per shipment increase of 4.9 percent and an increase of 9.5 percent in LTL-rated weight per shipment positively impacted by fourth quarter freight mix changes.

    Total billed revenue per hundredweight increased 0.4 percent and was negatively impacted by lower fuel surcharges and freight mix changes versus prior year. Revenue per hundredweight on traditional published LTL-rated business, excluding fuel surcharge and transactional LTL-rated shipments, improved by a percentage in the low-single digits.

    Operating income of $27.9 million compared to operating income of $20.5 million. On a non-GAAP basis, operating income of $34.9 million compared to operating income of $25.4 million.
    So... in order to get that 95.3% OR for the year... the OR for the 4th Quarter had to be around 95.2% but for some odd reason they omitted it from the report. Why?
    Which is something they don't normally do...

    IMO… that is highly suspicious if you look at the reported last four years 4th Quarter results when it comes to the operating income... and the perspective ORs...

    2020 - Operating income of $27.9 million

    2019 - Operating income of $20.5 million and an operating ratio of 96.0 percent compared

    2018 - Operating income of $36.9 million and an operating ratio of 93.3 percent

    2017 -Operating income of $18.0 million and an operating ratio of 96.4 percent

    2016 - Operating income of $7.1 million and an operating ratio of 98.5 percent
    Notice how they all reported the OR in all those past years but not this year.

    IMO... you might want to ask your TM why the 4th Quarter OR was so conveniently omitted from the results. Was it just an oversight or was it deliberate? After all... we all know about Judy and her exceptional bookkeeping skills and here's where that conspiracy theorist in me comes out because it's sure a whole different story when it comes to just telling the employees what the 4th Quarter OR was when asked by those curious employees and actually reporting it to the government because we all know how Judy will lie to us in a heartbeat but she sure would think twice about lying in the SEC filings.

    After all... all you needed was a 94% OR to receive a 2% bonus.

    Comment


    • #3
      Re: Bonus

      ABF Teamsters Will Receive 1 Percent Profit-Sharing Bonus Negotiated by the Union

      For the second consecutive year, Teamsters employed at ABF Freight System will receive a 1 percent profit-sharing bonus—negotiated by the union—after the company reported fourth-quarter results today.

      Under the Teamsters 2018-2023 ABF National Master Freight Agreement, if ABF Freight achieves an annual operating ratio of 96.0 or below for any full calendar year, each Teamster-represented employee will receive a bonus based on their earnings. ABF Freight reported a 95.3 percent operating ratio in 2020, which resulted in a 1 percent bonus.

      For example, if a member earned $80,000 in 2019, the worker will receive a bonus of $800.

      'For the second straight year, our ABF members will get a profit-sharing bonus for all their hard work making this company successful,” said Ernie Soehl, Director of the Teamsters National Freight Division. 'This was made possible thanks to the efforts of the Teamsters ABF National Negotiating Committee, which worked hard to negotiate this into the contract.”

      Under the contract language, ABF Teamsters should receive their checks by the end of February 2021, Soehl said.

      https://teamster.org/2021/02/abf-tea...-by-the-union/
      'This was made possible thanks to the efforts of the Teamsters ABF National Negotiating Committee, which worked hard to negotiate this into the contract.”
      Worked hard alright... for the company since 2010!!!

      Makes you proud to to see these self-proclaimed heroes keep patting themselves on their backs... doesn't it?

      Comment


      • #4
        Re: Bonus

        Originally posted by Docker View Post
        Worked hard alright... for the company since 2010!!!

        Makes you proud to to see these self-proclaimed heroes keep patting themselves on their backs... doesn't it?
        See and some doubted me when I mentioned they will be hard at work with their "magic" pencils..

        Comment


        • #5
          Re: Bonus

          Originally posted by Docker View Post
          Worked hard alright... for the company since 2010!!!

          Makes you proud to to see these self-proclaimed heroes keep patting themselves on their backs... doesn't it?
          $80,000 doesn't go far in Jersey,especially when you have to put in 10/11 hours a day to make that kind of money,but the medical sure does...Stock price keeps going up...That's all that matters...Wall Street is 'happy'...then Judy is 'happy'...Bonus or no bonus...

          Comment


          • #6
            Re: Bonus

            I don't own any stock at all. But I do check here every day when 222Lifer posts ABF's daily closing price. It surprises me how well it is doing. Wizard are you guys still humping pool tables down into peoples basements? If so it must be great paying freight to cover the workmen's comp claims.

            Comment


            • #7
              Re: Bonus

              Originally posted by 2631 View Post
              I don't own any stock at all. But I do check here every day when 222Lifer posts ABF's daily closing price. It surprises me how well it is doing. Wizard are you guys still humping pool tables down into peoples basements? If so it must be great paying freight to cover the workmen's comp claims.
              Ha-Ha...not anymore 2631,just treadmills,lots and lots of treadmills ever since the pandemic started...TM was saying residential's are up about 60%...And your right again,at one point we had 6 or 7 guys out on comp...freight that Fed-Ex and XPO doesn't want but ABF takes...

              Comment

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