R-14Driver
TB Legend
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* Q2 loss $0.30/shr vs est loss $0.39/shr
* Q2 revenue up 13 pct
* Total tonnage per day at ABF jumps 11.9 pct
* Says encouraged by improved economy
* Says prepared for modest rate of recovery
July 21 (Reuters) - U.S. trucking company Arkansas Best Corp (ABFS.O) posted a narrower-than-expected quarterly loss, helped by an improvement in daily tonnage levels at its largest unit ABF Freight System, and said it's encouraged by the improved economy.
"We have been encouraged by the modest, but positive, pricing trend during the quarter," said CEO Judy McReynolds. "Recent competitor commentary suggests that there is a renewed industry focus on improved pricing and better operating margins."
Truckload pricing, along with other fundamentals, has been on the mend through the year as freight volumes improved and excess capacity left the market through bankruptcies. The CEO, however, said the "economy remains fragile and we are therefore prepared for a modest rate of recovery".
The company said ABF benefited from lower non-union fringe benefit costs as well as workers' compensation and third-party casualty insurance claim costs as a percent of revenue.
Total tonnage per day at ABF increased 11.9 percent, but the less-than-truckload carrier said overall freight levels and yields need to improve for ABF to return to profitability......................
http://www.reuters.com/article/idCNSGE64J0LU20100721?rpc=44