Arkansas Best’s profit in quarter lacks luster
BY LAURIE WHALEN
Posted on Tuesday, April 25, 2006
Arkansas Best Corp. said Monday profit declined 42 percent in the first quarter, in part because of a workers’ compensation claims adjustment and an executive retirement benefit distribution.
The parent company of the less-than-truckload carrier ABF Freight System Inc. reported profit of $ 6. 12 million, or 24 cents per share, compared with $ 10. 46 million, or 41 cents per share, in the first quarter of 2005. The Fort Smith-based company missed the average earnings estimate of 49 cents per share from nine analysts surveyed by Thomson Financial.
