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News Breaks | | | | January 30, 2013 | | 05:46 EDT |  | ABFS | Arkansas Best reports Q4 EPS (31c), consensus (4c)
Reports Q4 revenue $537M, consensus $524.17M. This quarter's results include an after-tax charge of $2.4M, or 9c per share, related to an actuarial adjustment to ABF's workers' compensation expense. The liabilities associated with Arkansas Best's self-insured portion of these costs are estimates based on a number of variables and assumptions. During Q4, information indicating that many of these claims had a longer duration and higher payments than initially projected resulted in a thorough actuarial review and in this adjustment. | |
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News For ABFS From The Last 14 Days Check below for free stories on ABFS the last two weeks. |
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| May 17, 2013 | | 16:04 EDT |  | ABFS | Arkansas Best announces changes to nonunion pension plan
Arkansas Best announced that it has adopted changes to its nonunion defined benefit pension plan. Effective July 1, the plan will be frozen with the result that the accrual of future benefits under the plan will stop. Retirement benefits earned by participants through June 30 will be preserved. While the precise amount of net savings resulting from the changes to the plan and participation in the discretionary defined contribution plan cannot be determined at this time, the company expects that the reduction in this expense will be material going forward. | |
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