- Fourth quarter 2015 net income was $5.0 million, or $0.19 per diluted share. Excluding certain identified items, fourth quarter 2015 net income was $0.21 per diluted share.
- Fourth quarter 2015 ABF Freight® revenue and operating margin were below 2014, due to reduced business levels resulting from a sluggish freight economy and lower fuel surcharge revenue.
- Fourth quarter 2015 revenue at ArcBest’s asset-light logistics businesses was $198.3 million, an increase of 6 percent over the previous year.
- Full year 2015 revenue at ArcBest Corporation of $2.7 billion.
- ArcBest’s full year 2015 operating income increased 9 percent to $75.5 million.
FORT SMITH, Arkansas, February 3, 2016 /PRNewswire/ — ArcBest Corporation (Nasdaq: ARCB) today reported fourth quarter 2015 financial results reflecting a soft freight environment associated with high customer inventory levels and weakness in the manufacturing and industrial sectors of the economy. Fourth quarter and full year revenues were significantly impacted by the effect of lower diesel fuel prices on fuel surcharge revenues.
Fourth Quarter 2015 Results
ArcBest’s revenue was $648.1 million compared to revenue of $664.8 million in the fourth quarter of 2014, a decrease of 2.5 percent. Net income was $5.0 million, or $0.19 per diluted share compared to fourth quarter 2014 net income of $14.5 million, or $0.53 per diluted share. As shown in the attached reconciliation tables, both of these periods were impacted by favorable effective tax rates and adjustments for certain other items. On an adjusted basis, ArcBest’s fourth quarter 2015 net income was $5.5 million, or $0.21 per diluted share compared to fourth quarter 2014 net income of $11.9 million, or $0.44 per diluted share.
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