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ABF | ArcBest Misses by 20 cents on earnings

Sumting Wong

Sumting Wong

TB Lurker
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- Fourth quarter 2015 net income was $5.0 million, or $0.19 per diluted share. Excluding certain identified items, fourth quarter 2015 net income was $0.21 per diluted share.
- Fourth quarter 2015 ABF Freight® revenue and operating margin were below 2014, due to reduced business levels resulting from a sluggish freight economy and lower fuel surcharge revenue.
- Fourth quarter 2015 revenue at ArcBest's asset-light logistics businesses was $198.3 million, an increase of 6 percent over the previous year.
- Full year 2015 revenue at ArcBest Corporation of $2.7 billion.
- ArcBest's full year 2015 operating income increased 9 percent to $75.5 million.

ArcBest's revenue was $648.1 million compared to revenue of $664.8 million in the fourth quarter of 2014, a decrease of 2.5 percent. Net income was $5.0 million, or $0.19 per diluted share compared to fourth quarter 2014 net income of $14.5 million, or $0.53 per diluted share. As shown in the attached reconciliation tables, both of these periods were impacted by favorable effective tax rates and adjustments for certain other items. On an adjusted basis, ArcBest's fourth quarter 2015 net income was $5.5 million, or $0.21 per diluted share compared to fourth quarter 2014 net income of $11.9 million, or $0.44 per diluted share.

  • Revenue of $461.5 million compared to $485.9 million in fourth quarter 2014, a decrease of 5.0 percent. ABF Freight's fourth quarter 2015 revenue was impacted by lower fuel surcharges.
  • Tonnage per day decrease of 4.9 percent versus fourth quarter 2014.
  • Total billed revenue per hundredweight decreased 1.1 percent compared to the prior year which included the impact of lower fuel surcharges in 2015. Excluding fuel surcharge, the percentage increase on ABF Freight's traditional LTL freight was in the mid-single digits.
  • Operating income of $8.3 million and operating ratio of 98.2 percent excluding adjustments for pension settlement charges compared to similarly adjusted operating income of $15.8 million and an operating ratio of 96.8 percent in fourth quarter 2014.
ABF Freight's® fourth quarter operating margin was in-line with historical sequential changes from the third quarter. However, operating margins declined versus the prior year due to weak freight levels associated with U.S. manufacturing which in the fourth quarter contracted at levels not seen since 2009. Though the pricing environment has remained positive despite sluggish freight levels, ABF Freight's revenues were impacted by the significant reduction in diesel fuel prices that lowered fuel surcharge revenue and related costs. During the quarter, ABF Freight's continued emphasis on customer service led to challenges in aligning costs with the lower business levels.
 
Full year

  • Revenue of $1.9 billion, comparable to $1.9 billion in 2014. ABF Freight's 2015 revenue was impacted by lower fuel surcharges
  • Tonnage per day decrease of 1.5 percent versus 2014.
  • Total billed revenue per hundredweight increased 0.8 percent compared to the prior year reflecting the impact of lower fuel surcharges in 2015. Excluding fuel surcharge, the increase in total billed revenue per hundredweight was in the mid-single digits.
  • Operating income excluding adjustments for pension settlement charges increased 17 percent with an operating ratio of 96.6 percent compared to an operating ratio of 97.1 percent in 2014.
 
ABFer said:
I'll bet that Judy gets hers.:soapbox:
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FORT SMITH, Ark., Feb. 2, 2016 /PRNewswire/ -- ArcBest Corporation® (ARCB) today announced that President and Chief Executive Officer Judy R. McReynolds has been elected to the additional role of Chairman of the Board of Directors, effective immediately following ArcBest's 2016 Annual Meeting, succeeding Robert A. Young III who will retire on that date.

Yes she did get hers, she is now Chairman or Chairwoman of the board.
 
How hard do you think they worked to adjust that revenue to insure we don't get a bonus? I hope nobody got a hernia lifting all those moneybags and big figures around........

No Bonus For You! No vacation either, and no American made uniforms.......Can't afford 'em.....

Just put your head down and keep working, driver........Never mind that your pension is taking a cut, along with your vacation, pay, and dignity........Gotta keep those people on the top farting through silk underwear......... Head down, shoulder to the wheel, nose to the grindstone.........tombstone ,......grindstone,...........don't make no difference........
 
Sumting Wong said:
FORT SMITH, Ark., Feb. 2, 2016 /PRNewswire/ -- ArcBest Corporation® (ARCB) today announced that President and Chief Executive Officer Judy R. McReynolds has been elected to the additional role of Chairman of the Board of Directors, effective immediately following ArcBest's 2016 Annual Meeting, succeeding Robert A. Young III who will retire on that date.

Yes she did get hers, she is now Chairman or Chairwoman of the board.
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So when our stock goes from $40 to $17 you get elected to the board of directors....That sounds about right....
 
GO40 said:
So when our stock goes from $40 to $17 you get elected to the board of directors....That sounds about right....
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In that rarified thin air at the very top of the financial mountain, your judgement gets kind of skewed,...........so when something like what you mentioned happens,.....it's only natural to promote that person....,..
 
canaryinthemine said:
In that rarified thin air at the very top of the financial mountain, your judgement gets kind of skewed,...........so when something like what you mentioned happens,.....it's only natural to promote that person....,..
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Another one that really gets my goat is the salaries for public school administrators. They're closing in on $200,000/yr here at an alarming rate (annual increases that far surpass the cost of living) whilst they demean and underpay the working staff as they raise my taxes to pay for it all.
 
ABFer said:
Another one that really gets my goat is the salaries for public school administrators. They're closing in on $200,000/yr here at an alarming rate (annual increases that far surpass the cost of living) whilst they demean and underpay the working staff as they raise my taxes to pay for it all.
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Thank you bruce rauner
 
ABFer said:
Another one that really gets my goat is the salaries for public school administrators. They're closing in on $200,000/yr here at an alarming rate (annual increases that far surpass the cost of living) whilst they demean and underpay the working staff as they raise my taxes to pay for it all.
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Just goes to show that if you got the time to sit behind a desk and twiddle your thumbs because you don't have any real work to do,......then you got the time to plot and plan and scheme your way into a higher salary.

Those of us with real work to do flat out just ain't got the time to plot or scheme anything..........We got Work to do, and little time to do it in.......

You always wonder how these parasites get such big salaries..... Well, you give me a warm office, a taxpayer-financed computer, and about six hours of no real responsibilities, and I'll show you how to "prove" to your higher-ups that you are worth much more than they are originally paying you..........

Right after my nap.......
 
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