![]() On a non-GAAP basis, first quarter 2023 net income from continuing operations of $39.5 million, or $1.58 per diluted share.įORT SMITH, Ark. Generated first quarter 2023 net income from continuing operations of $ 18.8 million, or $ 0.75 per diluted share.First quarter 2023 net income, including discontinued operations, was $71.3 million, or $2.84 per diluted share, including an after-tax gain on the sale of FleetNet America ® of $51.4 million, or $2.05 per diluted share, which is subject to post-closing adjustments.Grew Shipments Despite a Softer Market BackdropĮxecuting on Accelerated Return of Capital to Shareholdersįollowing Recent Sale of FleetNet America Conference Calls, Webcasts & Presentations.^ a b "ABF Keeps On Trucking After 90 Years".^ a b c "ABF Freight has growth history".^ a b c "ABF Freight opens in Marshall".^ "Operating Control of Best To Arkansas Motor Freight".^ a b "University To Honor Three At Spring Commencement".Parent company, Arkansas Best Corporation, was renamed ArcBest Corporation in 2014. ĪBF created ABF U-Pack Moving as a subsidiary in 1997 to provide household moving services. It acquired East Texas Motor Freight Lines, a subsidiary of Bright Industries Inc., in 1982, a move which added 44 new terminal cities increasing ABF's reach to a total of 158, and by 1985 ABF was the sixth largest carrier in the US. in 1980 and, by 1981, was the eighth largest trucking company in the US operating 106 terminals. Īrkansas-Best changed its name to ABF Freight System Inc. This pushed Arkansas-Best's operations all the way to California and increased its rank from the 25th largest interstate motor freight carrier in the US to ninth. Major expansion came with the carrier's purchase of Navajo Freight Lines in 1979. Route 1 connected Arkansas-Best's New England and southeastern operations. The subsequent acquisition of the operating rights of Akers Motor Lines along U.S. which expanded its midwestern operations. Day Truck Line, Associated Transport, Western Gillette, and a portion of the routes of Great Lakes Express Co. In the 1970s, Arkansas-Best developed into a nationwide carrier through acquisitions of southeastern US carrier Youngblood Truck Lines in 1971 and all or part of H.A. This was followed the next year by the acquisition of Krema Truck Lines in the Chicago area. which extended their network into New York. In 1968, after a decade of expansion by acquiring route authorities in the southern, midwestern, and eastern US, Arkansas-Best acquired Fast Freight Co. In 1966, Young founded Arkansas Best Corporation as a holding company for Arkansas-Best to facilitate diversification. Arkansas-Best also acquired Delta Motor Line expanding its reach to New Orleans. At the time, Arkansas-Best estimated it would have revenues of approximately US$18 million for 1961. It was expected to operate as a wholly-owned subsidiary of Arkansas-Best. Healzer had been founded in 1930 in Hutchinson, Kansas and at the time of acquisition reported nearly US$3 million annually in revenue. Īrkansas-Best again expanded in 1961 when it acquired Healzer Cartage of Kansas City, Missouri for US$500,000. The company name changed again when, after Young acquired Dallas, Texas-based Best Motor Freight in 1956, he merged the two companies in 1957 as Arkansas-Best Freight System Inc. purchased Arkansas Motor Freight Lines, Inc. Until 1935, it had operated only within Arkansas but its acquisition of Motor Express made it an interstate carrier. The company was founded Fort Smith, Arkansas in 1923 as OK Transfer, the name it used until 1935 when it acquired Arkansas Motor Freight (AMF) and took that company's name. ABF Freight System, Inc., a subsidiary of ArcBest Corporation, is an American national less-than-truckload (LTL) freight carrier based in Fort Smith, Arkansas.
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