SOURCE: The Bedford Report

The Bedford Report

October 26, 2011 08:16 ET

YRC Worldwide and Arkansas Best Could Surprise This Earnings Season

The Bedford Report Provides Equity Research on YRC Worldwide & Arkansas Best

NEW YORK, NY--(Marketwire - Oct 26, 2011) - Despite widespread worry of a double dip recession, trucking companies have been performing admirably in recent quarters. Trucking companies have been posting improving earnings in part because capacity remains in short supply even though freight volumes have flattened. The Bedford Report examines the outlook for companies in the trucking industry and provides equity research on YRC Worldwide, Inc. (NASDAQ: YRCW) and Arkansas Best Corporation (NASDAQ: ABFS). Access to the full company reports can be found at:

Bob Costello, the chief economist for the American Trucking Association (ATA) said during a panel discussion at the ATA's annual Management Conference & Exhibition that "trucking's fundamentals still remain good, and the best times are still ahead of us in trucking." With supply and demand for trucking "close to equilibrium," fleet businesses should continue to outperform the macro economy "as long as manufacturing continues to do well," he added.

As for the general economy slipping into a double dip recession, Costello said: "We've never had a recession that trucking didn't predict, and it's not predicting one now."

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The ATA -- whose members include FedEx Corp., UPS, Werner Enterprises Inc. and YRC Worldwide Inc -- released a statement earlier this month arguing that the group "is on sound footing, and, as an industry, we remain optimistic about a continuing, though slower than expected, recovery."

Despite an onslaught of negative economic data the last month, the turnover rate for over-the-road truck drivers is at its highest point since the second quarter of 2008, according to a report by The American Trucking Association (ATA). Meanwhile the not seasonally adjusted truck tonnage index, which represents the change in tonnage actually hauled by fleets before any seasonal adjustment, equaled 123.8 in August, which was 10.9% above the previous month.

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