Arkansas Best Narrows Loss To $3.1 Million (ABFS)

Fort Smith, Arkansas-based Arkansas Best Corporation ABFS released financial results on Thursday morning that missed Wall Street earnings estimates, while beating revenue expectations. Arkansas Best Corporation announced that its 4th quarter net loss narrowed to $3.1 million, or 12 cents per share, compared to a net loss of $88.7 million, or $3.54 per share, a year earlier. Arkansas Best Corporation reported revenue of $441.10 million, up from $371.63 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for a loss of 9 cents per share, on revenue of $426.74 million. President and Chief Executive Officer Judy R. McReynolds said, "Arkansas Best's fourth quarter and full year results compared to last year reflect improvement associated with increased business levels and an LTL pricing environment that began improving in the fall." Arkansas Best Corporation (ABFS) finished the previous trading day at $24.95 per share. The consensus price target of analysts covering the company's stock is $27.77 per share. Arkansas Best Corporation is a transportation holding company. ABF Freight System, Inc., Arkansas Best's largest subsidiary, provides transportation of less-than-truckload ("LTL") general commodities throughout North America. Read more from Benzinga's Company news.