SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Oct 30, 2012) - The Trucking Industry has struggled in 2012 as a number of economic factors has caused demand to fall. The American Trucking Associations' (ATA) advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 0.4 percent in September, following a 0.9 percent decline in August. Five Star Equities 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).
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For the past 9 months the index has been trending flat as the reading of 118.7 in September was equal to the reading on January 2012. When compared to September of 2011 the SA index gained just 2.4 percent, which was the smallest year-over-year gain in nearly 3 years.
"The biggest risk to trucking would be a backslide into recession either because of the collapse of the Euro, or more likely, uncertainty related to the 'fiscal cliff' at the end of the year," said ATA's chief economist Bob Costello. "It is very likely that Washington simply punts on resolving the issues surrounding the cliff into 2013, thus limiting GDP growth to less than 2% until late in the year."
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YRC Worldwide Inc. is the holding company for a portfolio of successful brands including YRC Freight, YRC Reimer, Holland, Reddaway, and New Penn, and provides China-based services through its JHJ joint venture. The company is scheduled to release their third quarter 2012 financial results on November 2, 2012.
Arkansas Best, headquartered in Fort Smith, Arkansas, is a freight transportation services and solutions provider. The company recently announced that Janice E. Stipp, current Executive Vice President, CFO and Treasurer of Tecumseh Products Company, has joined Arkansas Best's Board of Directors. The Board of Directors has declared a third quarter dividend of $0.03 per share.
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