Arkansas Best’s First-Quarter Loss Widens
Arkansas Best Corp. said Friday it lost $21.4 million, or 85 cents a share, in the first quarter, compared with a loss of $18.2 million, or 73 cents, a year ago.
Revenue rose 6% to $359.9 million, while tonnage per day at less-than-truckload unit ABF Freight gained 3.3%, the company said in a statement.
ABF and the Teamsters union this week came to an agreement to reduce wages 15%, contingent on final approval from the union. (Click here for previous story.)
Arkansas Best Corp. is ranked No. 18 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
