Fort Smith, AR-based transportation holding company Arkansas Best Corp. has announced that profits jumped 21% in the second quarter compared with the same period last year to $23.4 million. ABF Freight System, the company’s largest subsidiary said strong tonnage, coupled with favorable rates had kept the company well in the black.
“LTL and truckload revenue yields, excluding fuel surcharge, increased by over 3%,” said Robert Young III, Arkansas Best chairman & CEO. “ABF continues to emphasize the addition of profitable business and remains committed to maintaining a good balance between tonnage growth and overall profitability.
“Despite a decline in second quarter LTL tonnage per day, 2005 second quarter operating results illustrate that ABF’s business is still at a level where improvement of yields through an emphasis on individual account profitability and strict cost control can produce a very profitable quarter,” Young added.
