ABF announced on 2/3/2023 that it had achieved an 87.3% operating ratio* for 2022. As a result, the profit-sharing provisions of the 2018-23 ABF NMFA have been triggered once again. See Profit Sharing MOU Here
Specifically, qualified members (generally those employees who were on the seniority list from January 1, 2022 to December 31, 2022) will receive a bonus of 3% of their 2022 earnings. This is the fourth year in a row that ABF Freight members have received a profit-sharing bonus. The Company’s success is due to the hard work and dedication of ABF’s Teamsters who worked through the challenges of 2022. The profit-sharing bonuses will be paid on or about February 15, 2023.
*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.
Read the Feb 2022 Article about the 2021 89.9% Operating Ratio Year Resulting in 3% Bonus Paid
Read the Feb 2021 Article about the 2020 95.3% Operating Ratio Year Resulting in 1% Bonus Paid
Read the Feb 2020 Article about the 2019 95.2% Operating Ratio Year Resulting in 1% Bonus Paid