Monday, November 3,2014
- Third quarter 2014 net income increased 40 percent from the previous year to $19.6 million and $0.72 per share or $20.1 million and $0.74 per share, excluding pension settlement charges.
- Increased business levels at ABF FreightSM contributed to higher revenues and improved profitability
- ArcBest’s emerging businesses increased third quarter revenue 23 percent
- Panther continued to capitalize on a strong market demand for its services as EBITDA increased 22 percent
FORT SMITH Arkansas, November 3, 2014 – ArcBest Corporation (Nasdaq: ARCB), today reported improved third quarter 2014 results reflecting business growth at ABF Freight and all of its emerging companies, including an ongoing strong performance at Panther Premium Logistics.
ArcBest’s third quarter 2014 revenue was $711.3 million compared to revenue of $623.4 million in the third quarter of 2013, an increase of 14 percent. Third quarter net income was $19.6 million and $0.72 per share, or $20.1 million and $0.74 per share excluding pension settlement charges, compared to third quarter 2013 net income of $14.0 million, and $0.52 per share, or $14.3 million and $0.53 per share excluding pension settlement charges and tax items.
At ABF Freight, third quarter revenue was $523.4 million, an 11 percent increase over $471.0 million in the same period last year. Operating income increased to $24.7 million from $17.2 million in third quarter 2013. ABF Freight’s operating ratio was 95.3 percent versus 96.3 percent in the year-ago period.
Read more at: abfs.com