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SOURCE ArcBest Corporation
- ArcBest ranks number 889 in 2014, up from 2013's rank of 927 for previously named Arkansas Best Corporation
- Customers increasingly seek out two or more transportation and logistics services from the ArcBest companies and brands, with employees known for going above and beyond
FORT SMITH, Ark., July 2, 2014 /PRNewswire/ -- ArcBest Corporationsm (Nasdaq: ARCB) is pleased to announce that it moved up 38 spots on the Fortune 1000 list this year as customers become more aware of the company's scope as a holistic provider of transportation and logistics services and as its emerging businesses represent a greater portion of total corporate revenue.
ArcBest is the parent company of flagship less-than-truckload (LTL) carrier ABF Freightsm and the emerging businesses ABF Logisticssm, Panther Premium Logisticssm, FleetNet America® and ArcBest Technologies.
Together, these subsidiaries provide a wide variety of services to meet shippers' needs across the supply chain, as well as solutions for fleet maintenance and repair. With the company's moving division, which includes the consumer brand U-Pack®, ArcBest solves complex transportation problems day-in and day-out.
ABF Freight, which celebrated its 90th anniversary in 2013, operates the core LTL network in North America. ABF Logistics, formed as a separate subsidiary in the summer of 2013, provides complementary third-party logistics solutions including truck brokerage and rail options, transportation management, warehousing and ocean shipping.
Judy R. McReynolds, president and CEO of ArcBest, is one of approximately five percent of female CEOs in the Fortune 1000. She became CEO in 2010 after a variety of management roles in the company since joining in 1997.
In 2013, ArcBest's total revenue rose 11 percent to $2.3 billion from $2.1 billion in 2012.
"From our roots as an LTL carrier based in Arkansas, we are now a much broader and diverse company with solutions that span the world," said McReynolds. "We are excited about the additional opportunities before us, and we continue to innovate to meet our goals for the future."
McReynolds added that to be fully recognized as a holistic provider of transportation and logistics solutions, the parent company was renamed ArcBest Corporation on May 1, 2014, and also adopted a new trading symbol, ARCB.
As part of the company's efforts to provide the one-stop shopping that customers increasingly seek, the company acquired Panther in the summer of 2012. Panther, based near Cleveland, Ohio, is one of the best-known providers of premium logistics including time-sensitive, mission-critical and white-glove delivery.
FleetNet America, headquartered in Cherryville, NC, creates value for customers in three ways: by getting fleets back on the road fast, by reducing maintenance events through better data and by delivering best-in-class preventive maintenance compliance at the lowest total maintenance cost.
In 2013, approximately three-quarters of total revenue came from ABF Freight, with the emerging businesses – ABF Logistics, Panther and FleetNet – rising to about one-quarter of that total from just seven percent in 2009.
"As we look to the future, we are continuing to invest in providing our customers with more of the logistics services they want from a trusted provider," said McReynolds. "We are very gratified that our growth is recognized on the Fortune 1000 list and appreciate the great reception we have had since May 1 to our new corporate name, logos and overall brand identity."
ArcBest Corporationsm (Nasdaq: ARCB) solves complex logistics and transportation challenges. Our companies and brands – ABF Freightsm, ABF Logisticssm, Panther Premium Logisticssm, FleetNet America®, U-Pack® and ArcBest Technologies – apply the skill and the will with every shipment and supply chain solution, household move or vehicle repair. ArcBest finds a way.
For more information, visit arcb.com, abf.com, pantherpremium.com, fleetnetamerica.com and upack.com. ArcBest Corporationsm. The Skill & The Willsm.
Certain statements and information in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "foresee," "intend," "may," "plan," "predict," "project," "scheduled," "should," "would" and similar expressions and the negatives of such terms are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on management's current expectations and beliefs concerning future developments and their potential effect on us. Although management believes that these forward-looking statements are reasonable, as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and management's present expectations or projections. Important factors that could cause our actual results to differ materially from those in the forward-looking statements include, but are not limited to: general economic conditions and related shifts in market demand that impact the performance and needs of industries served by ArcBest Corporation's subsidiaries and/or limit our customers' access to adequate financial resources; unfavorable terms of, or the inability to reach agreement on, future collective bargaining agreements or a workforce stoppage by our employees covered under ABF Freight's collective bargaining agreement; relationships with employees, including unions; union and nonunion employee wages and benefits, including changes in required contributions to multiemployer pension plans; competitive initiatives, pricing pressures, the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates and the inability to collect fuel surcharges; availability of fuel; default on covenants of financing arrangements and the availability and terms of future financing arrangements; availability and cost of reliable third-party services; disruptions or failures of services essential to the operation of our business or the use of information technology platforms in our business; timing and amount of capital expenditures, increased prices for and decreased availability of new revenue equipment and decreases in value of used revenue equipment; future costs of operating expenses such as maintenance and fuel and related taxes; self-insurance claims and insurance premium costs; governmental regulations and policies, including environmental laws and regulations; potential impairment of goodwill and intangible assets; the impact of our brands and corporate reputation; the cost, timing and performance of growth initiatives; the cost, integration and performance of any future acquisitions; the costs of continuing investments in technology, a failure of our information systems and the impact of cyber incidents; weather conditions; and other financial, operational and legal risks and uncertainties detailed from time to time in ArcBest Corporation's Securities and Exchange Commission public filings.
For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
Media Contact: Kathy Fieweger
Investor Relations Contact: David Humphrey
Title: Chief Marketing Officer
Title: VP Investor Relations
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