"Continuing improvements in ABF's year-over-year and sequential tonnage trends contributed to better operating results and a reduction in our third quarter loss versus last year and last quarter," Chief Executive Judy McReynolds said in a statement.
For the July-September quarter, the company reported a net loss attributable to Arkansas Best at $749,000, or 3 cents a share, compared with a loss of $5.6 million, or 23 cents a share, a year ago.
Operating revenue for the less-than-truckload carrier rose 12 percent to $445.5 million.
Tonnage per day at ABF Freight increased 13.9 percent, while revenue for the unit rose 11 percent to $409.9 million, the company said.
Analysts on average had expected the company to post a loss of 4 cents a share, before special items, on revenue of $437.9 million, according to Thomson Reuters I/B/E/S.
Arkansas Best said it continues to be on track to experience annual savings at the high end of its previous forecast of $15-$18 million. (Reuters)
