ArcBest Corp. Quarterly Loss Shrinks

ArcBest Corp., formerly known as Arkansas Best Corp., reported a $5.19 million first quarter net loss, an improvement from its $13.39 million loss one year ago.

Revenues for the Fort Smith-based trucking, transportation and logistics firm climbed higher to $577.9 million, up from $520.68 million in the previous year’s first quarter.

Company officials said the quarter reflected revenue growth and increased business levels despite a significant impact from severe winter weather.

“This was a challenging quarter for our industry as severe weather across the nation disrupted operations,” said ArcBest President and CEO Judy McReynolds. “Excluding that impact, our companies performed well, with ABF Freight overcoming the previous year’s loss, Panther posting strong operating profit and FleetNet experiencing record business levels on many days. Our improved success in offering customers holistic solutions and one-stop shopping for a variety of logistics challenges is helping distinguish us in the marketplace.”

On Wednesday, Arkansas Best Corp. announced it would change its name to reflect its new name and stock ticker symbol,  ArcBest Corp. (NASDAQ: ARCB).

“Today marks an exciting new era for our organization,” McReynolds said. “The new name, logo system and advertising campaign we unveiled yesterday allow us to more clearly communicate our total value proposition to our customers, our employees and our shareholders through one unified identity under the ArcBest umbrella.”