September 18, 2014 12:54 AM ET

Road and Rail

Company Overview of ABF Freight System, Inc.

Company Overview

ABF Freight System, Inc. provides less-than-truck load freight shipping services. The company provides general commodities transportation services. The company's freight shipping services include ReloCube, portable moving and storage containers; ABF TruckPack, shipping boxes fit on a standard pallet; Flatbed Delivery Service for shipments such as commercial heating and air conditioning units, electrical transformers, oil, gas, and petrochemical equipment, steel and metal raw materials; and construction site supplies and equipment; and Retail Shipping Services. The company was formerly known as Arkansas-Best Freight System, Inc. and changed its name to ABF Freight System, Inc. in July 2007. T...

3801 Old Greenwood Road

Fort Smith, AR 72903

United States

Founded in 1923

Phone:

479-785-8900

Fax:

479-785-8701

Key Executives for ABF Freight System, Inc.

Chief Executive Officer and President
Age: 60
Chief Financial Officer and Senior Vice President
Age: 67
Senior Vice President of Operations
Chief Executive Officer of Arkansas Best Corporation and President of Arkansas Best Corporation
Age: 51
Vice President of Administration and Treasurer
Compensation as of Fiscal Year 2014.

ABF Freight System, Inc. Key Developments

ABF Freight Names Michael R. Moss as Senior Vice President, Operations, Effective July 14, 2014

ABF Freight announced that Michael R. Moss has been named Senior Vice President -- Operations, effective July 14, 2014 as the company continues to innovate within the less-than-truckload industry on behalf of its customers across the supply chain. In his new position, Moss will report directly to Slagle and will be responsible for all areas of operational activities for ABF Freight including terminal and linehaul operations, equipment purchasing and maintenance.

ABF Freight Reports Earnings and Production Results for the Fourth Quarter and Full Year of 2013; Provides Operating and Revenue Guidance for January 2014

ABF Freight reported earnings and production results for the fourth quarter and full year of 2013. The company reported fourth quarter revenue of $437 million, a 5.4% increase compared to last year. Adverse weather in late December impacted the company's fourth quarter 2013 operating ratio by approximately 0.4% points. Fourth quarter revenues at all of non-asset-based businesses totaled $150 million. On a combined basis, in the fourth quarter, these businesses produced EBITDA of $8.2 million, compared to $5.8 million in the fourth quarter of 2012. For the full year of 2013, the company reported revenue of $1.76 billion versus $1.7 billion in 2012. The company's 2013 total tonnage per day increased 3.6% versus the previous year. The company's full year operating ratio was 99.4%, compared to 101.2% in 2012. The company's quarterly tonnage per day increased 2.7%, compared to last year's fourth quarter. This included monthly year-over-year tonnage increases of 2.6% in October, 1.5% in November and 4.4% in December, although recall that October of 2012 was impacted by Hurricane Sandy. The company's fourth quarter operating ratio was 97.7%, compared to 103.4% in the fourth quarter of 2012. The company's fourth quarter 2013 total billed revenue per hundredweight was $28.46, an increase of 2.3% versus the fourth quarter of last year. The company's total weight per shipment was 1,327 pounds, 2.7% below that of last year's fourth quarter. And the company's average length of hall equaled 1,011 miles during the fourth quarter, compared to 1,036 miles in last year's fourth quarter. For the month of January 2014, the company's total tonnage is expected to be flat to slightly down, compared to January 2013, when the company's tonnage increased over 6% versus the prior year. The company's January 2014 revenues are expected to increase by approximately 1% to 2% above January 2013 levels, reflecting improved account pricing. Weather events throughout January have significantly affected the company's business levels and productivity. The company estimates the negative impact on the company's operating income January month to be approximately $4 million. Without the effects of the weather, the company would have expected January revenue to increase by 4% to 5% versus last year and total tonnage should have increased by 2.5% to 3%. During the remainder of first quarter 2014, tonnage comparisons versus the prior year will be more challenging based on business strengths, the company experience throughout the first quarter of 2013.

ABF Teamster Employees in Central Region Reject Strike Authorization

ABF Freight System, Inc. has been notified by the International Brotherhood of Teamsters that union employees covered by the Central Region Local Cartage supplement to the ABF National Master Freight Agreement have voted overwhelmingly to reject a strike authorization. Based upon this outcome, there will be no strike by employees in the affected region or anywhere else in the ABF nationwide system. Next steps toward finalization of the national agreement will be determined shortly. The five-year ABF NMFA is the first such agreement that the company has negotiated on its own behalf. A majority of Teamster employees ratified the national agreement in June, and 26 of 27 supplements were ratified by mid-October. After receiving the company's last, best and final offer on their supplement, Central Region Local Cartage employees received strike authorization ballots in early October.

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