Tom Biery/Trans Pixs
Arkansas Best Corp. swung to a third-quarter profit from loss a year ago on improved pricing, the company said Friday.
Net income was $12.3 million, or 46 cents a share, compared with loss of $700,000, or 3 cents, a year ago.
Revenue rose to $510.9 million, a 14.7% per-day increase over last year.
ABF Freight System, its less-than-truckload operation and largest business unit, had operating income of $18.3 million, turning around an operating loss of $2.6 million a year ago.
ABF’s revenue rose to $466.3 million, a per-day increase of 13.8%, while tonnage per day slipped 2% from a year ago.
Since March, ABF’s year-over-year change in monthly tonnage has moderated, and beginning in August tonnage has been below that of the same period last year, said CEO Judy McReynolds.
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