Trucking Industry's Resurgence Continues in 2013 as ATA's SA For-Hire Truck Tonnage Index Posts Best January on Record
Five Star Equities Provides Stock Research on Arkansas Best and YRC Worldwide
NEW YORK, NY -- (Marketwire) -- 02/21/13 -- The Trucking Industry has experienced a resurgence over the past few months. The American Trucking Associations' advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 2.9 percent to 125.2 in January, the highest on record. Five Star Equities examines the outlook for companies in the Trucking Industry and provides equity research on Arkansas Best Corporation (NASDAQ: ABFS) and YRC Worldwide, Inc. (NASDAQ: YRCW).
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The trucking industry represents a very important component of the US economy. According to the US Bureau of Economic Analysis, the trucking industry adds about 5 percent to the Gross Domestic product each year.
"The trucking industry started 2013 with a bang, reflected in the best January tonnage report in five years," ATA Chief Economist Bob Costello said. "While I believe that the overall economy will be sluggish in the first quarter, trucking likely benefited in January from an inventory destocking that transpired late last year, thus boosting volumes more than normal early this year as businesses replenish those lean inventories."
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Through its various subsidiaries, Arkansas Best offers a wide variety of logistics solutions including: domestic and global transportation of less-than-truckload and full load shipments. The company reported a net loss of $7.9 million in the fourth quarter, compared to a net income of $1.4 million in the fourth quarter of 2011. Shares of the company are up over 19 percent year-to-date.
YRC Worldwide has the largest, most comprehensive network in North America with local, regional and national capabilities. For the full year 2012 the company reported a consolidated operating income of $24.1 million, compared to a consolidated operating loss of $138.2 million in the fourth quarter of 2011. This was the first time in six years the company has reported a positive annual operating income.
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