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ABF Profit Sharing Hits 3% of Gross Wages
Updated On: Feb 02, 2022
ABF announced on 2/1/2022 that it achieved an 89.9% operating ratio* for 2021. As a result, the profit-sharing provisions of the 2018-23 ABF NMFA have triggered. See Profit Sharing MOU Here
Specifically, qualified members (generally those employees who were on the seniority list from January 1, 2021 to December 31, 2021) will receive a bonus of 3% of their 2021 earnings. This is the third year in a row that ABF Freight members have received a profit-sharing bonus. This year’s bonus, however, is the largest so far. The Company’s success is due to the hard work and dedication of ABF’s Teamsters who worked through the challenges of 2021. The profit-sharing bonuses will be paid on or about February 16, 2022.
*Operating ratio refers to the ratio of operating expenses to operating revenue and is generally considered a measure of profitability and efficiency in the trucking industry.