Tag Archives: ABF

ArcBest Corporation® Announces Third Quarter 2016 Results

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  • Third quarter 2016 revenue of $713.9 million and net income of $12.9 million, or $0.49 per diluted share.
  • Third quarter ABF Freight® operating results were impacted by reduced freight levels.
  • ArcBest’s asset-light revenue equaled 31 percent of total consolidated revenue in September 2016 following a recent acquisition.

FORT SMITH Arkansas, November 3, 2016 – ArcBest Corporation® (Nasdaq: ARCB) today reported third quarter 2016 net income of $12.9 million, or $0.49 per diluted share, compared to third quarter 2015 net income of $19.2 million, or $0.72 per diluted share.  The continued softness in the U.S. industrial economy impacted freight tonnage levels and profit margins at ABF Freight.  ArcBest’s asset-light logistics companies were highlighted by improved revenue and operating profit at Panther.

Excluding certain items in both periods, ArcBest’s non-GAAP net income was $12.7 million, or $0.48 per diluted share, in third quarter 2016 compared to third quarter earnings of $20.2 million, or $0.76 per diluted share, last year.

“As we have seen throughout the year, pricing in the less-than-truckload sector remained rational despite a soft economic environment and we continued to experience benefits from investments in new equipment,” said ArcBest Chairman, President and CEO Judy R. McReynolds. “In addition, we continued to expand our asset-light logistics service offerings with the acquisition of Logistics & Distribution Services, as we add further scale to the full supply chain solutions our customers are seeking.”

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ABF Freight Recognized by Inbound Logistics as Top 100 Trucker for 2016

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  • The ArcBest Corporation® company appears in the magazine’s September issue

FORT SMITH, Arkansas, September 30, 2016 — ABF Freight®, an ArcBestsm company (Nasdaq: ARCB), has been recognized as a Top 100 Motor Freight Carrier by Inbound Logistics magazine, whose September issue features a list of 100 trucking leaders that offer the diverse operational capabilities and experience to meet its readers’ unique supply chain and logistics needs.

“Inbound Logistics provides the Top 100 Trucker list as a service to its readers, and we are proud that ABF Freight was once again selected by the editorial team,” said ABF Freight President Tim Thorne. “I want to commend the skilled and dedicated employees of ABF Freight for their efforts in providing outstanding service to our valued customers.”

Inbound Logistics is a leading monthly trade magazine targeted toward business logistics and supply chain professionals. Each year, Inbound Logistics selects the leading transportation providers by carefully evaluating submitted information, conducting personal interviews and online research, and comparing that data to their readers’ motor freight and logistics challenges.

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ABF Freight Driver Ernie Wood Named Vermont Driver of the Year

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  • The Vermont Truck and Bus Association recognized Wood during a Burlington banquet
  • Wood is also Vermont’s reigning three-axle — grand champion and best pre-trip winner

FORT SMITH, Arkansas, September 26, 2016 — ABF Freight®, an ArcBestsm company (Nasdaq: ARCB), is proud to announce Ernie Wood, a professional driver based in Brattleboro, Vermont, has been named Driver of the Year by the Vermont Truck and Bus Association.

“Ernie richly deserves this recognition. He has driven for ABF Freight for 10 years, and during that time he has achieved a stellar safety record with zero accidents or injuries,” said ABF Freight President Tim Thorne. “We applaud his professionalism and safety-first attitude, and we are proud he’s on the ABF Freight team.”

During his career, Wood has driven 19 years accident free. In the Vermont Truck Driving Championships, he has earned first-place honors twice, second place three times and third place once.

“It is with great pleasure that I congratulate Ernie Wood of ABF Freight as this year’s Vermont Truck and Bus Association Driver of the Year,” said Robert J. Sculley, VTBA executive director. “Mr. Wood is an example of the best of the best as he competed and finished with the highest score among all drivers in the Vermont Truck Driving Championships. We applaud his commitment to safety and thank ABF Freight and his wife and family for their support of Ernie as he represents our great industry on the highways of Vermont.”

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ABF Freight Proudly Celebrates National Truck Driver Appreciation Week

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  • System-wide celebration acknowledges the important contributions of ABF Freight employees
  • Events are planned throughout the week at 245 terminals across North America

FORT SMITH, Arkansas, September 8, 2016 — ABF Freight®, an ArcBestsm company (Nasdaq: ARCB), is celebrating National Truck Driver Appreciation Week, September 11-17, 2016, with employee appreciation events at our 245 terminals.

“I want to extend my personal appreciation and thanks to all ABF Freight employees who serve our customers with excellence and integrity,” said ABF Freight President Tim Thorne. “At this special time, we are proud to show our appreciation with events designed to honor our employees. Our leadership team will be attending these events and will have the opportunity to meet and personally thank employees for their continued service.”

ABF Freight also recognizes employees throughout the year through safe driving certificates, plaques and other awards. Through training and recognition programs, ABF Freight supports our employees as they promote safety and increase public appreciation of the trucking industry in everything they do to serve our customers.

Established by the American Trucking Associations, National Truck Driver Appreciation Week has been a tradition since 1988.

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ABF Freight, Panther Premium Logistics Earn Quest for Quality Awards

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• Logistics Management includes both carriers in expedited motor carrier category

FORT SMITH, Arkansas, August 22, 2016 — ArcBest Corporation® (Nasdaq: ARCB) is pleased to announce that ABF Freight® and Panther Premium Logistics® have been honored with 2016 Quest for Quality Awards by Logistics Management Magazine.

ABF Freight and Panther Premium Logistics are among winners in the expedited motor carrier category.

The award marks the fourth consecutive selection and fifth overall for ABF Freight.

“ABF Freight is honored to yet again receive a Quest for Quality Award from Logistics Management and its readers,” said ABF Freight President Tim Thorne. “ABF Freight’s Quality Process has been part of our culture for decades, shaping how we serve our customers and holding us to a zero defects standard. It is especially gratifying to see that commitment to quality recognized by such a prestigious award.”

This is also the fourth consecutive year Panther has received the award.

“We are honored to be included among this year’s Quest for Quality Award winners,” Panther President and CEO Lou Schneeberger said. “Panther employees work hard to solve our customers’ problems quickly and efficiently, and they recognize the importance of quality. Their dedication is why customers rely on us for their transportation needs.”

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ABF Freight Driver A.J. Kelly Earns 2nd Place at National Truck Driving Championships

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  • Kelly earned the right to compete by winning Wyoming state driving championship
  • He competed in the Twins class at the National Truck Driving Championships in Indianapolis

FORT SMITH, Arkansas, August 19, 2016 — ABF Freight®, an ArcBestsm company (Nasdaq: ARCB), congratulates A.J. Kelly, an ABF Freight road driver from Cheyenne, Wyoming, for earning second place in the Twins class at the National Truck Driving Championships, held August 10-13, 2016, in Indianapolis.

To earn the right to compete in the national competition, drivers must win first place in their class during state competitions. The drivers also must maintain an accident-free driving record for the preceding 12 months.

“A.J. not only earned the right to compete in the nationals by winning first place in the Wyoming Twins class, he scored the highest on Wyoming’s written examination,” said ABF Freight President Tim Thorne. “His record with ABF Freight includes driving 16 years and 2 million miles with no accidents. A.J. is a true professional.”

Kelly has been driving professionally for 37 years. He is a two-time winner of the Wyoming Trucking Association’s Larry E. Meredith Award, which honors a driver’s professionalism. He has earned numerous awards at the state level, including two-time Grand Champion, five Team Trophies, Highest Written Score, Best Personal Interview, Rookie of the Year and the Kim Fife Award. Since he joined ABF Freight in 2000, Kelly has earned a Two Million Mile Award, a 16-year Safe Driving Certificate and a 15-year Safety Performance Award. He and his wife, Susie, have five children.

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ABF Freight Announces Revised Rates

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FORT SMITH, Arkansas, August 15, 2016 — ABF Freight®, an ArcBestsm company (Nasdaq: ARCB), today announced an increase in general rates and charges effective August 29, 2016.

Rates will increase by about 5.25 percent, although the effect on specific lanes and shipments will vary.

New rates will be available to customers through abf.com on or before August 29.

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ABF Freight to Send 16 Drivers to National Truck Driving Championships

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  • Drivers earn the right to compete by winning a state driving championships
  • Drivers must have driven accident-free during the previous 12 months

FORT SMITH, Arkansas, August 5, 2016 — ABF Freight®, an ArcBestsm company (Nasdaq: ARCB), is sending 16 drivers, each of whom is a state driving champion, to the National Truck Driving Championships in Indianapolis, August 10-13, 2016.

“We are proud to recognize the achievements of our professional drivers who have competed and won their state championships and earned their right to compete at the national level,” said ABF Freight President Tim Thorne. “Championship driving requires a strong commitment to safety and professionalism. We offer our congratulations to all those who will compete in Indianapolis.”

To earn the right to compete in the national competition, drivers must win first place in their class during state competitions. The drivers also must maintain an accident-free driving record for the preceding 12 months.

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ArcBest Corporation Announces Second Quarter 2016 Results

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  • Second quarter 2016 revenue of $676.6 million and net income of $10.2 million, or $0.39 per diluted share.
  • Second quarter ABF Freight® operating results were impacted by lower daily revenue combined with costs associated with the handling of smaller average sized shipments.
  • ArcBest’s asset-light logistics revenue equaled 30 percent of total revenue.

FORT SMITH Arkansas, July 29, 2016 – ArcBest Corporation® (Nasdaq: ARCB) today reported second quarter 2016 net income of $10.2 million, or $0.39 per diluted share, compared to second quarter 2015 net income of $20.0 million, or $0.74 per diluted share.  The inconsistent economic operating environment combined with a surplus of transportation capacity continues to impact available business levels and operating margins at ABF Freight and at each of ArcBest’s asset-light logistics companies.  In the midst of this challenging period, ArcBest continues to successfully build on the strategic opportunities it has to gain new business, strengthen shipper relationships and offer additional services to existing customers.  The ArcBest companies are focused on delivering superior service levels while working together to offer comprehensive logistics solutions that meet customer needs at a fair price.

Excluding certain items in both periods, ArcBest’s non-GAAP net income was $10.0 million, or $0.38 per diluted share, in second quarter 2016 compared to earnings of $20.2 million, or $0.75 per diluted share, last year.

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ABF Freight Selected as SupplyChainBrain 2016 Great Supply Chain Partner

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  • Nominations for 100 Great Supply Chain Partners submitted by satisfied customers

FORT SMITH, Arkansas, July 14, 2016 — ABF Freight®, an ArcBestsm company (Nasdaq: ARCB), is among the 100 Great Supply Chain Partners nominated by satisfied customers for inclusion in the SupplyChainBrain annual listing, which appears in the magazine’s 2016 July/August issue.

“We are very grateful to our customers for nominating ABF Freight for this recognition. By serving as a partner to our customers, rather than merely a vendor, we create added value for their supply chains,” said ABF Freight President Tim Thorne. “With an emphasis on innovation and quality performance, we will continue to supply solutions to our customers’ toughest supply chain challenges.”

The magazine’s list of partners is based on entries voluntarily submitted to SupplyChainBrain.com, where the official nomination form has been posted since early this year. Over the last few months, many of the magazine’s readers received emails asking them to participate and directing them to the form. Other readers and users of the website independently found a link to the official nomination form on the home page.

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