Arkansas Best Corp. (AB) posted net income of $18.3 million in the third quarter, up from $13 million in the same period last year.
AB's ABF Freight System subsidiary said its third quarter revenues topped $336 million, compared to $330 million during the same quarter of 2001, though its operating ratio was negatively impacted by nearly three-quarters of an operating point as a result of increased insurance costs.
Ft. Smith, AR-based ABF noted its billed LTL revenue per hundredweight, excluding fuel surcharge, was $22.39 this quarter, an increase of 5.3% over the $21.27 billed in the same quarter last year because of a rate increase in August and new business gained from the CF bankruptcy.
AB's Clipper subsidiary had third-quarter revenues of $32.4 million, same as it posted in the third quarter last year.
