Shares of Arkansas Best (ABFS +16.6%) are having a banner day on the heels of the company's Q2 report.
Revenue was up 13% Y/Y during the period to $576.9M, beating estimates.
Q2 EPS of $0.18 looks optically worse than the $0.44/ share profit the company posted in Q2 2012. However, a tax benefit was largely responsible for last year's Q2 EPS figure. Strip that out and add back a $0.05/ share charge associated with the Panther acquisition and you get $0.18, exactly the same as this quarter's figure. (PR)
The company notes that the ratification of the ABF National Master Freight Agreement is a "major step toward returning the company to consistent profitability." (previous)