Fort Smith-based ArcBest Corp. on Monday report a second-quarter profit of $20 million, or 74 cents per diluted share, up 16 percent from $17.2 million, or 63 cents per share, in the second quarter of 2014.
Meanwhile, company executives announced that Kathy D. McElligott and Stephen E. Gorman were named to the board of directors, effective July 28. McElligott, 59, is executive vice president and chief Information and technology officer of health-care services company McKesson Corp., and Gorman, 60, CEO of privately held Borden Dairy Co.
Excluding pension-settlement charges for both periods, second-quarter net income was reported at $20.3 million, or 75 cents per diluted share, up from $17.8 million, or 65 cents, the year before. All operating companies, including ABF Freight and Asset-Light Logistics, saw improved profit over the previous year, the transportation company said.
Revenue came to $696.1 million in the second quarter, a 5.7 percent improvement over $658.6 million in second-quarter 2014, the company said.
"ArcBest posted strong results this quarter, with our highest second quarter revenue ever," ArcBest President and CEO Judy R. McReynolds said in a statement. "I am pleased that our strategic investments in an expanded set of service offerings are resulting in a greater percentage of customers turning to the ArcBest companies for solutions to their supply chain challenges."
ABF Freight’s revenue grew to $504.4 million, compared with $492.9 million the year before, because of greater tonnage and “continued positive trends in account pricing,” the company said.
Company executives hosted a conference call at 8:30 a.m. Monday to discuss the results. Those interested may listen by calling (800) 926-6349 or may dial the playback later at (800) 633-8284. The conference call ID for the playback is 21771575. Both will be available on ArcBest’s website at arcb.com.