ArcBest Sees Revenue, Profits Grow In 2014
by February 4, 2015 5:44 am 94 views
Trucking giant ArcBest posted strong fourth quarter and full-year results after a year that saw the company rename itself, add and shift jobs, and announce a new corporate headquarters.
After posting a first quarter loss, the Fort Smith-based transportation company served three straight profitable quarters, including its final quarter when net income climbed 41%.
ArcBest’s fourth quarter revenue was $664.85 million compared to revenue of $578.55 million in the fourth quarter of 2013. Net income for the quarter was $14.54 million, or $0.53 per share, compared to fourth quarter 2013 net income of $10.35 million, or $0.38 per share.
For the full year, ArcBest’s revenue totaled $2.612 billion, an increase of 14% compared to $2.29 billion in 2013. Net income was $46.18 million, or $1.69 per share, nearly three times net income of $15.81 million, or $0.59 per share in 2013.
“We made significant progress this year getting ABF Freight on a firmer path toward sustained, historical profitability and communicating with our customers about the full array of transportation and logistics solutions we offer through all of the ArcBest companies,” said ArcBest President and CEO Judy R. McReynolds.
“Changing our company name, embracing ‘The Skill & The Will’ positioning, and integrating customer offerings at ABF Freight, ABF Logistics and Panther through our Enterprise Customer Solutions group are all examples of how we serve customers better today than ever before,” she said.
ArcBest’s shares (NASDAQ: ARCB) closed trading on Tuesday at $40.48. The company’s stock has traded between $29.88 and $47.52 per share during the past year.