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ABF | Arkansas Best Corporation Announces Third Quarter 2013 Results

Third quarter 2013 revenue increases 7.9% to $623.4 million from $577.5 million

- Third quarter 2013 net income of $14.0 million, or $0.52 per share, on better business levels

- Panther produces significant improvement in third quarter operating income and EBITDA

- All emerging, non-asset-based businesses generated third quarter operating income on revenue growth

- ABF Freight's new five-year labor agreement was implemented on November 3
 
Arkansas Best posts quarterly income of $13.9 million

Arkansas Best Corp. blew past market expectations with third quarter net income of $13.982 million from revenue of more than $623 million.

The per share earnings of 52 cents was well ahead of the consensus estimate of 36 cents and the revenue bested the market estimate of $605.98 million.

The quarterly net income more than doubled the $6.518 million reported during the third quarter of 2012, and the revenue was up almost 8% compared to the 2012 quarter.


Arkansas Best posts quarterly income of $13.9 million | Business, Political, and Cultural News in Fort Smith and Northwest Arkansas



And to think they did this without concessions!!!
 
papajohn said:
Arkansas Best posts quarterly income of $13.9 million

Arkansas Best Corp. blew past market expectations with third quarter net income of $13.982 million from revenue of more than $623 million.

The per share earnings of 52 cents was well ahead of the consensus estimate of 36 cents and the revenue bested the market estimate of $605.98 million.

The quarterly net income more than doubled the $6.518 million reported during the third quarter of 2012, and the revenue was up almost 8% compared to the 2012 quarter.


Arkansas Best posts quarterly income of $13.9 million | Business, Political, and Cultural News in Fort Smith and Northwest Arkansas



And to think they did this without concessions!!!
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Yea, who would have figured??? :9529: Thanks alot to the yes voters.
 
GO40 said:
I know how you post & how you bragged about the great od...I took it as sarcasm if its not,sorry....
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No not sarcasm at all. I like OD, I'm happy there but I'm a capitalist at heart. I want everyone to get the best deal for their work as possible. That's what America is all about. If ABF can post a profit, they shouldn't come begging to their employees for money.
 
Songremainsthesame said:
No not sarcasm at all. I like OD, I'm happy there but I'm a capitalist at heart. I want everyone to get the best deal for their work as possible. That's what America is all about. If ABF can post a profit, they shouldn't come begging to their employees for money.
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What many do not understand is the latitude they have to manipulate their funds to make money or not make money. Those of us who have been around the block a time or two are aware of that and we are trying to explain it to those who are new to the game. It is a tough line to sell though as they seem to be unwilling to listen to us and hear what we are saying.
 
ABFer said:
What many do not understand is the latitude they have to manipulate their funds to make money or not make money. Those of us who have been around the block a time or two are aware of that and we are trying to explain it to those who are new to the game. It is a tough line to sell though as they seem to be unwilling to listen to us and hear what we are saying.
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I hear ya. But I'm a realist as well as a capitalist. It has to be a two way street between employer/employee. I go to work and do my job, and I feel like I get a pretty fair shake for what I do. $.548/mile isn't chicken feed. I was making $.38/mile when I ran over the road and Con-way tops out their line drivers at I believe $.52/mile. I have been at OD less than a year and making more than some of my friends at Con-way who have been there since the doors opened at CSE. I would love to have a pension fully funded by my employer, benefits fully paid, etc. but who does that anymore? Very very few lines of work offer those kinds of benefits anymore. I know, I know, ABF does (minus 7% which sucks for you guys, I feel for you, no bs) but at what cost? The LTL world isn't what it was in 1972. Deregulation has completely changed the landscape of the LTL market. It now has way too much capacity and is fiercely competitive. Our city guys are still making somewhere in the range of $24-25/hr depending on location, and I think it's a joke that they don't get overtime until 60. But, who am I to judge? They show up for it day in and day out, and most seem to be happy doing it. I can't speak for them. That's why I'm a line driver at OD and not a city driver.

I'm a little sleep deprived today so I'm a little foggy, but I guess what I'm trying to say is that I believe there has to be give and take on both sides of the coin. The company is in business for one reason, to make as much money as possible. The same holds true for me. And before you go saying "if the union lines go under you'll be sorry because they'll slash your pay" think about this for just a second... if OD, or Con-way, or Estes or whoever came in and slashed a drivers wages and benefits package what would they have? A bunch of pissed off drivers, many of which would look for greener pastures. Sure there would be a lot more drivers in the mix if YRC or ABF weren't in business, but how many guys would come into another company after being laid off and work for $10/hr or whatever they decided to "slash" our wages to? The employment market is just the same as the economy, it's based on supply and demand. If my carrier or any other carrier were to slash wages they'd have a hard time keeping drivers or hiring new ones, and let's face it, there aren't near as many qualified drivers entering the industry through truckload carriers, and there's a lot of grey hair in the LTL field. The driver shortage isn't a myth, and if the LTLs want to continue to offer a high quality service, they're going to have to pay what they're paying now to be selective in who they hire off the street. You may agree or disagree with me, that's fine, it's your right, but it's how I see things. If I'm wrong then God help us all.
 
I hear everything you're saying there and am glad to hear just facts, no demeaning tidbits or innuendos (I hate that word inuendos). However, I do believe that if the union benchmark, spiraling downward as it may be, was removed we would see lower wages at companies like the one you work for and worked for. If you don't believe it look at what happened when YRC got their 15% cut. It was cuts, no raises, elimination of 401k contributions 'round the house. As I look around I see a decline in the quality and qualifications of the drivers being hired on at some of the companies. I'll leave it at that except to say that English is not so necessary to master anymore to go represent a freight company to its customers. And that includes LTL. The only way you and the rest could obtain fully paid pension and let's not forget health care, would be if you all stuck together and organized but I don't see that happening anytime soon, particularly with what the Teamsters Union is offering these days. For the life of me I still can't understand why truck drivers are exempt from OT after 40. There have been countless studies to determine, confirm and reaffirm that excessive work hours and fatigue are dangerous to the public yet nobody has stepped up to provide a little incentive to reduce excessive hours. Sure, some would rather work 60 hours at straight time, it helps provide a better lifestyle. But how 'bout if you worked less hours for the same pay, wouldn't it improve the quality of your life? This disparity alone would make a huge difference in leveling the playing field amongst all freight companies and provide a safer environment for everyone.
 
ABFer said:
I hear everything you're saying there and am glad to hear just facts, no demeaning tidbits or innuendos (I hate that word inuendos). However, I do believe that if the union benchmark, spiraling downward as it may be, was removed we would see lower wages at companies like the one you work for and worked for. If you don't believe it look at what happened when YRC got their 15% cut. It was cuts, no raises, elimination of 401k contributions 'round the house. As I look around I see a decline in the quality and qualifications of the drivers being hired on at some of the companies. I'll leave it at that except to say that English is not so necessary to master anymore to go represent a freight company to its customers. And that includes LTL. The only way you and the rest could obtain fully paid pension and let's not forget health care, would be if you all stuck together and organized but I don't see that happening anytime soon, particularly with what the Teamsters Union is offering these days. For the life of me I still can't understand why truck drivers are exempt from OT after 40. There have been countless studies to determine, confirm and reaffirm that excessive work hours and fatigue are dangerous to the public yet nobody has stepped up to provide a little incentive to reduce excessive hours. Sure, some would rather work 60 hours at straight time, it helps provide a better lifestyle. But how 'bout if you worked less hours for the same pay, wouldn't it improve the quality of your life? This disparity alone would make a huge difference in leveling the playing field amongst all freight companies and provide a safer environment for everyone.
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Great post ABFer. I believe we are exempt from the 40hr rule because of the traffic it would cause if we were not. You know, like a factory has a second and third shift. Doubling up on the amount of truck traffic would cause grid lock.
 
Homesick said:
Great post ABFer. I believe we are exempt from the 40hr rule because of the traffic it would cause if we were not. You know, like a factory has a second and third shift. Doubling up on the amount of truck traffic would cause grid lock.
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I'm guessing you're being sarcastic. If they really wanted to cut down on traffic non-essential drivers would not be allowed on the streets before 9 AM and off by 4 PM (by non-essential I mean those going to tea parties, gyms etc.)
 
ABFer said:
I'm guessing you're being sarcastic. If they really wanted to cut down on traffic non-essential drivers would not be allowed on the streets before 9 AM and off by 4 PM (by non-essential I mean those going to tea parties, gyms etc.)
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If they cut those drivers out, the accidents would be reduced by 90%. Good call Abfer
 
ABFer said:
I'm guessing you're being sarcastic. If they really wanted to cut down on traffic non-essential drivers would not be allowed on the streets before 9 AM and off by 4 PM (by non-essential I mean those going to tea parties, gyms etc.)
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If anyone ever wants to see how that works try taking a job in Europe. The countries are so small every time you get started good you are crossing into another country. And those countries are mostly under the British rule of law; lacking probable cause for search and seizure. It is interesting when the police stop you simply to ask “where are you going” or “why are you driving on this road?”
And yes I am serious. Why do you think truck drivers are exempt from OT after 40hrs?
 
Homesick said:
If anyone ever wants to see how that works try taking a job in Europe. The countries are so small every time you get started good you are crossing into another country. And those countries are mostly under the British rule of law; lacking probable cause for search and seizure. It is interesting when the police stop you simply to ask “where are you going” or “why are you driving on this road?”
And yes I am serious. Why do you think truck drivers are exempt from OT after 40hrs?
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Has something to do with the railway labor act. Other than that I don't know what the logic behind it is. Funny thing though, I'll bet there there isn't a RR that isn't union and doesn't get OT after 8 or 40.
 
ABFer said:
I hear everything you're saying there and am glad to hear just facts, no demeaning tidbits or innuendos (I hate that word inuendos). However, I do believe that if the union benchmark, spiraling downward as it may be, was removed we would see lower wages at companies like the one you work for and worked for. If you don't believe it look at what happened when YRC got their 15% cut. It was cuts, no raises, elimination of 401k contributions 'round the house. As I look around I see a decline in the quality and qualifications of the drivers being hired on at some of the companies. I'll leave it at that except to say that English is not so necessary to master anymore to go represent a freight company to its customers. And that includes LTL. The only way you and the rest could obtain fully paid pension and let's not forget health care, would be if you all stuck together and organized but I don't see that happening anytime soon, particularly with what the Teamsters Union is offering these days. For the life of me I still can't understand why truck drivers are exempt from OT after 40. There have been countless studies to determine, confirm and reaffirm that excessive work hours and fatigue are dangerous to the public yet nobody has stepped up to provide a little incentive to reduce excessive hours. Sure, some would rather work 60 hours at straight time, it helps provide a better lifestyle. But how 'bout if you worked less hours for the same pay, wouldn't it improve the quality of your life? This disparity alone would make a huge difference in leveling the playing field amongst all freight companies and provide a safer environment for everyone.
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Oh yeah, when I was in the city at Con-way my biggest complaint was the disparity in pay between the southern region and the rest of the company. I had to work more hours to make the same as someone from up north or out west. My time wasn't seen as valuable by the company solely on geographic region. I didn't care about making more per se, but having equal value placed on my time. I did the same work, wore the same uniform and drove the same trucks as my brethren up north or out west, so why wasn't time worth less?

I'm still going to have to respectfully disagree with you about the decline in pay minus the union based on one factor: yes Con-way and others cut wages at the same time YRC did, but I'm the case of all I've seen they've given those wages back and even given raises. Like I said, I may be wrong on this one, but if I am God help us all.

I hope always to be seen as respectful in what I post and say, sometimes I get a little wound up but I appreciate what the union has done for the industry in the past. I'm too young to have been around during the glory days, but when I was a kid and saw those CF wagons rolling up and down the road, that's what I wanted to do and where I wanted to work. Deregulation in some ways was good, it definitely helps the consumer, but the trucking industry was massively changed, and not always for the better.
 
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