ArcBest Corp's (ARCB) CEO Judy McReynolds on Q2 2017 Results - Earnings Call Transcript

Discussion in 'ABF Freight System' started by Freightmaster1, Jul 28, 2017.

  1. Freightmaster1

    Freightmaster1 Well-Known Member

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    David Ross

    With the administration in Washington a lot of moving parts would be coming out of there, what are you seeing or are you hearing, Judy, in terms of pension reforms? And anything that's being considered right now that could be helpful for ABF?

    Judy McReynolds

    Well, there are some discussion about that and it's more, at this point, discussion. There's a UPS proposal that really is attempting that is again it's not a deal, but it's a proposal but it's attempting to address the simple stage problem specifically. It includes proposals like a low-interest long term federal government will loan to trouble to cover their cash flow shortages. The federal state is probably what they're targeting when they're trying to do that, but the thing that we're doing is, we're involved in the discussions. the following what's happening here, but it's in a extremely complex problems with the potential to really harm thousands of retirees and what are issue has been is that we've paid every dollar that we were contractually obligated to pay and we're concerned about the retirees that work for our company actually seeing those benefits because of the situation that central states has been.

    But the one I think paid to keep in mind about all of that is, there's a lot of ice on it, there's a lot of discussions about it. There was a recent insolvent fund, I think it's 207, local 707 fund and the 707 fund reality is the benefit of those workers or actually cut back in an extreme level. And so the outcome there is I think a telegraphs what could happen with these funds if they are allowed to go insolvent. And so it's best interest that we have in making sure that our people are considered in that. And that we know what the effects are back on the company. But I can't say that I know how those are going to do, because they haven't been introduced as bills and we haven't been able to see anything really kind of making its way through the process. What I can tell you that we're in a position where we're involved in we're paying what we should pay according to the contract. And again, we're going to support proposals that we think help the situation.

    David Ross

    Optimistically a year ago about this?

    Judy McReynolds

    Well, I don't know how really to answer that. Sometimes when there's a need, a great need to get things done, that's when it gets done. As we know, we've seen some really important thing not make their way through. And so I think having pressure on the situation, they help us. But I would say really of about the same as I was a year ago, but that's more about just the difficulty in getting these things through. Progress in some other process in Washington.


    Last edited: Jul 28, 2017
  2. Sumting Wong

    Sumting Wong Active Member

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    FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Friday reported second-quarter net income of $15.8 million.

    On a per-share basis, the Fort Smith, Arkansas-based company said it had net income of 60 cents. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.

    The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

    The freight transportation and logistics company posted revenue of $720.4 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $719.3 million.

    ArcBest shares have fallen 22 percent since the beginning of the year. The stock has risen 21 percent in the last 12 months.
    canaryinthemine likes this.
  3. 6PakAbs

    6PakAbs Well-Known Member

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    Wow.. not impressed...wonder what it would had it not been for the lost benefits to the Brotherhood...well, probably not as much because of the bonu$ and other rewards to the uppidy folks at The Fart Smith home office, including the various vice presidents...
    come on Judy, got to cry :wolf: to your employees...keep the wages/benefits in check
    canaryinthemine likes this.

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