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ABF | 88.8% Operating Ratio 3rd Quarter

Steward of the Rock said:
Based upon n contract language, the OR bonus is based on the calendar year. Therefore, on contract years, there is no OR bonus. Old contract ended June 30th and the new contract started on July 1st.

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I was looking at the wording. Last contract was 2019 thr 2022 and this contract is 2024 thr 2027. No year 2023. I didn't notice that before you posted. That is (probably) why the company gave us a big raise this year.

So, to recap, we gave up COLA the last two years, and the profit sharing this year, but we received a larger upfront raise on day one of the contract. I'm now wondering if the day one raise was.......?
 
GO40 said:
Wizard Of Oz GIF
Fingers crossed I own million’s in several different crypto coins….
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Guess you can't even pave the driveway with them, they don't hold up!
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ABF381 said:
That was a real money saver though...I heard they saved 15%...
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Congrats on the good quarter to your company. I have a question for you. My wife and I are returning home to Quincy, Ill from the Southwest. We went from Sedona AZ to Albuquerque today. I pull our 35' camper usually around 70-71. One of your guys hung right with us for about 30 miles until we came to a mountain. Are all your trucks running 70 now? Again pretty impressive OR.
 
YellowFellow said:
Congrats on the good quarter to your company. I have a question for you. My wife and I are returning home to Quincy, Ill from the Southwest. We went from Sedona AZ to Albuquerque today. I pull our 35' camper usually around 70-71. One of your guys hung right with us for about 30 miles until we came to a mountain. Are all your trucks running 70 now? Again pretty impressive OR.
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The new trucks since contract are 70, and a few roads that won’t age into p&D anytime soon
 
ABF381 said:
Freightwaves reports an 88.8% for quarter 3...
www.freightwaves.com

ArcBest seeing trends improve post-Yellow

ArcBest reports a third-quarter earnings beat when adjusting for several one-off items.
www.freightwaves.com www.freightwaves.com
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Interesting, while 88.8 is decent for a union LTL carrier the OR Increased by 350 basis points form the same quarter in 2022.
Sounds like the freight mix is changing, less 'transactional' business. Translation "less 3Pl" blanket rates or less ABF dynamic pricing.
Next quarter will say a lot on how things are going...
I hear much of the Yellow shipments that initially went to carriers has found a new home...
That may be better for some and worse for other carriers......
 
Puff Driver said:
Interesting, while 88.8 is decent for a union LTL carrier the OR Increased by 350 basis points form the same quarter in 2022.
Sounds like the freight mix is changing, less 'transactional' business. Translation "less 3Pl" blanket rates or less ABF dynamic pricing.
Next quarter will say a lot on how things are going...
I hear much of the Yellow shipments that initially went to carriers has found a new home...
That may be better for some and worse for other carriers......
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I heard we recently stopped taking about 65 percent of the Home Depot freight we started getting because “it wasn’t priced right” according to our TM.
 
Larrythethird said:
I heard we recently stopped taking about 65 percent of the Home Depot freight we started getting because “it wasn’t priced right” according to our TM.
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Some of these shippers that have benefited by discounted rates may have to dig down deeper in their pockets unless another cut rate carrier can be found. Every freightline the company has bought over the years was giving discounts for cash flow the day they closed the doors. About the only discounts the company has given over the years was for back haul to pay expenses. Moving empty trailers pays nothing which means you are in fact losing money evry mile you pull one.
 
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