Hello ArcBest, Goodbye Arkansas Best

Arkansas Best Corp., parent of 90-year-old ABF Freight System (the nation’s eighth-largest LTL carrier with $1.7 billion in revenue last year) has changed its name to ArcBest Corp., effective May 1. Its stock symbol has changed from ABFS to ARCB.

By ·

Arkansas Best Corp., parent of 90-year-old ABF Freight System (the nation’s eighth-largest LTL carrier with $1.7 billion in revenue last year) has changed its name to ArcBest Corp., effective May 1. Its stock symbol has changed from ABFS to ARCB.
 
The Fort Smith, Ark.-based freight company also unveiled a new unified logo system for its various units. It said it was trying to “strengthen its identity as a holistic provider of transportation and logistics solutions” for its wide variety of customers.
 
“This marks an exciting new era for our organization,” ArcBest President and CEO Judy R. McReynolds said in a statement. “The new name, logo system and advertising campaign we are unveiling allow us to more clearly communicate our total value proposition to our customers, our employees and our shareholders through one unified identity under the ArcBest umbrella.”
 
ArcBest’s principal operating subsidiaries will continue to include ABF Freight as well as smaller units ABF Logistics, Cleveland-based Panther Premium Logistics and FleetNet America, its repair and maintenance unit based in Ohio and North Carolina.  ArcBest also has an in-house staff of information technology professionals at newly named ArcBest Technologies, formerly called Data-Tronics Corp.
 
“Our customers know our people as the most creative problem solvers in the industry, with the drive and commitment to work toward the right solutions for them day-in and day-out,” McReynolds said. “With the addition of Panther in 2012 and the formation of ABF Logistics in the summer of 2013, we have been providing customers a broad array of solutions across the supply chain spectrum for some time, and we want everyone to know that they can come to us for a variety of needs.”
 
Brad Delco, analyst with Stephens Inc., said in a research note to clients that ArcBest has been largely successful in its decade-long diversification away from a unionized LTL carrier to a transportation solutions company offering a variety of services.
 
“ARCB continues to grow its non-asset business at a fast pace and it now accounts for 27 percent of revenue,” Delco said. “We view ARCB’s diversification away from its asset-heavy LTL business as a positive that should lead to multiple expansion and better margins going forward.”
 
Delco has a new 12-month stock price target of $48 for ARCB. Its shares at press time were trading just below $40.
 
McReynolds said that the ArcBest companies are trying to work together to offer easily accessible solutions through a single point of contact as shippers increasingly seek one-stop shopping for their transportation needs.
 
“With our well-recognized brands and a strong reputation, we are uniquely positioned through our legacy core company ABF Freight and our emerging businesses to find a way to solve our customers’ challenges every single day,” she said. “Our more than 11,000 employees deliver knowledge, expertise and a can-do attitude with every shipment and supply chain solution, consumer move and vehicle repair.”


About the Author

John D. Schulz
John D. Schulz has been a transportation journalist for more than 20 years, specializing in the trucking industry. John is on a first-name basis with scores of top-level trucking executives who are able to give shippers their latest insights on the industry on a regular basis.

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!

Article Topics

ABF Freight · ArcBest · LTL · All Topics
Latest Whitepaper
Managing Global Transportation: How NVOCCs can operate more profitably
Global transportation isn’t getting any easier to manage. With new rules and regulations to learn, new compliance requirements to adhere to, and new customers and business partners to onboard, navigating the complexities of the global market can be difficult for any company. To fully leverage their global supply chains, firms need a robust, global transportation management system that helps them navigate this ever-changing environment.
Download Today!
From the July 2016 Issue
While it’s currently a shippers market, the authors of this year’s report contend that we’ve entered a “period of transition” that will usher in a realignment of capacity, lower inventories, economic growth and “moderately higher” rates. It’s time to tighten the ties that bind.
2016 State of Logistics: Third-party logistics
2016 State of Logistics: Ocean freight
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Getting the most out of your 3PL relationship
Join Evan Armstrong, president of Armstrong & Associates, as he explains how creating a balanced portfolio of "Top 50" global and domestic partners can maximize efficiency and mitigate risk.
Register Today!
EDITORS' PICKS
Regional ports concentrate on growth and connectivity
With the Panama Canal expansion complete, ocean cargo gateways in the Caribbean are investing to...
Digital Reality Check
Just how close are we to the ideal digital supply network? Not as close as we might like to think....

Top 25 ports: West Coast continues to dominate
The Panama Canal expansion is set for late June and may soon be attracting more inbound vessel calls...
Port of Oakland launches smart phone apps for harbor truckers
Innovation uses Bluetooth, GPS to measure how long drivers wait for cargo