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ABF | Third Quarter results

Steward of the Rock said:
Unbelievable. This next contract had better be our best one ever!!!
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ArcBest to contend with tonnage declines, cost inflation in Q4

ArcBest beats expectations in a noisy third quarter. Tonnage declines and cost inflation during the fourth quarter will put the model to the test.
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Spokesperson, Flab Modelo said tonnage was especially off in the Scranton area because limited access to shippers with freight too wide for 102” trailers.
 
I decided to go back and pull up the quarterly numbers from the third quarter of 2018 to current date (ABF NATIONAL MASTER FREIGHT AGREEMENT) just to see how much profit ABF has made off of our hard labor. ABF’s Operating Income (profit) for this time frame so far is $854.5 MILLION and there are still three quarters to go in the current five year contract. The Operating Ratio for this time frame so far is a 92 OR. In just the first three quarters of this year alone, the Operating Income (profit) is $306 MILLION.
By the time this contract ends on June 30, 2023, ABF will most likely have made over
$1 BILLION (Operating Income) over the life of this current contract.
It is time for the Teamster ABF employees to share in the record breaking profits with a contract that is the envy of the entire freight industry.

27409B14-A423-40AD-96CA-A49ACCF27AB1.md.png
 
Steward of the Rock said:
I decided to go back and pull up the quarterly numbers from the third quarter of 2018 to current date (ABF NATIONAL MASTER FREIGHT AGREEMENT) just to see how much profit ABF has made off of our hard labor. ABF’s Operating Income (profit) for this time frame so far is $854.5 MILLION and there are still three quarters to go in the current five year contract. The Operating Ratio for this time frame so far is a 92 OR. In just the first three quarters of this year alone, the Operating Income (profit) is $306 MILLION.
By the time this contract ends on June 30, 2023, ABF will most likely have made over
$1 BILLION (Operating Income) over the life of this current contract.
It is time for the Teamster ABF employees to share in the record breaking profits with a contract that is the envy of the entire freight industry.

27409B14-A423-40AD-96CA-A49ACCF27AB1.md.png
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Steward, we were talking about this on one of the nightly party lines last night. It was brought up that ABF could have paid double our wages over the last 4 years and ABF would still have been a profitable company.
 
Homesick said:
Steward, we were talking about this on one of the nightly party lines last night. It was brought up that ABF could have paid double our wages over the last 4 years and ABF would still have been a profitable company.
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Not quite. However, if you take the $306 Million they have made for the the first three quarters this year, ABF could have paid 8500 full-time employees an additional $22.00 an hour (40-hours a week) and still made a profit for the year so far.
Three quarters is equivalent to 1560-hours (40-hours per week).
1560-hours X $22.00 = $34,320.00.
$34,320.00 X 8500 (FT Employees) = $291,720,000.00.
$306,000,000 (first three quarters) — $291,720,000.00 = $14,280,000.
So, in short, ABF could have paid us (8500 employees) an additional $22.00 an hour for this year, and still be showing a nearly $14.3 MILLION Dollar profit so far this year.
LET THAT SINK IN!!!
 
Steward of the Rock said:
Not quite. However, if you take the $306 Million they have made for the the first three quarters this year, ABF could have paid 8500 full-time employees an additional $22.00 an hour (40-hours a week) and still made a profit for the year so far.
Three quarters is equivalent to 1560-hours (40-hours per week).
1560-hours X $22.00 = $34,320.00.
$34,320.00 X 8500 (FT Employees) = $291,720,000.00.
$306,000,000 (first three quarters) — $291,720,000.00 = $14,280,000.
So, in short, ABF could have paid us (8500 employees) an additional $22.00 an hour for this year, and still be showing a nearly $14.3 MILLION Dollar profit so far this year.
LET THAT SINK IN!!!
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Oops, that may be my mistake. I thought there were only 5,500 union employees. I'm probably Incorrect, but that is how many union employees I thought ABF had, so we were doing the numbers based on 6,0000 employees. Sorry!
 
Homesick said:
Oops, that may be my mistake. I thought there were only 5,500 union employees. I'm probably Incorrect, but that is how many union employees I thought ABF had, so we were doing the numbers based on 6,0000 employees. Sorry!
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I am not exactly sure how many total FT employees we have. But if my memory serves me well, I recall something about 8500 being mentioned in the last year or two. Let’s both research it and see what we come up with brother.
 
Abfrocks said:
As far as the “bonus”. Yeah I’ll take it. Does it need to be in next contract? Hell No. We get taxed horribly on that. Much better wages instead and they can stick the bonus up their ass in my opinion
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With "Workday" , you can change your withholdings quite quickly and easily. Still got taxed on the bonus this year but instead of it being almost half, uncle Sam only got a couple hundred dollars and I got the rest.

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