Financial Performance - Total revenues for 2022 reached $5,324,052 thousand, a 33.6% increase from $3,980,067 thousand in 2021[457]. - Operating income for 2022 was $399,269 thousand, up 42.2% from $280,986 thousand in 2021[457]. - Net income for 2022 was $298,209 thousand, representing a 39.5% increase compared to $213,521 thousand in 2021[460]. - Basic earnings per share for 2022 were $12.13, a 44.5% increase from $8.38 in 2021[457]. - Operating expenses for 2022 were $4,924,783 thousand, an increase of 33.2% from $3,699,081 thousand in 2021[457]. Assets and Liabilities - Total current assets increased to $989,783 thousand in 2022, up 27.5% from $776,053 thousand in 2021[456]. - Total assets grew to $2,494,286 thousand in 2022, a 17.9% increase from $2,112,676 thousand in 2021[456]. - Total stockholders' equity rose to $1,151,401 thousand in 2022, up 24% from $929,067 thousand in 2021[456]. - The company’s total liabilities related to the postretirement health benefit plan are measured based on various assumptions, including discount rates and expected retirement age[503]. - Long-term debt, less current portion, was $198.371 million as of December 31, 2022, up from $174.917 million in 2021, reflecting a 13.4% increase[569]. Cash Flow - The company reported net cash provided by operating activities of $470,819 thousand in 2022, up from $323,515 thousand in 2021, indicating a 45.5% increase[466]. - Cash and cash equivalents at the end of 2022 were $158,372 thousand, compared to $76,620 thousand at the end of 2021, marking a 106.5% increase[466]. - The company reported a net cash used in financing activities of $127,984 thousand in 2022, a decrease from $247,645 thousand in 2021[466]. Market Risks - The company is exposed to market risks from changes in interest rates, diesel fuel prices, and foreign currency exchange rates[431]. - The company anticipates challenges from inflation and rising interest rates affecting operational costs[431]. - The interest rate swap agreement converts $50.0 million of borrowings under the Credit Facility from variable-rate to fixed-rate interest at 1.55%[433]. Insurance and Reserves - The company's aggregate insurance reserves accrual was $122.8 million, related to workers' compensation and third-party casualty claims[449]. - The allowance for credit losses on trade accounts receivable was $9.4 million as of December 31, 2022, an increase of $6.9 million from the previous year[477]. - The Company is self-insured for certain claims up to specified limits, with liabilities based on case reserves and independent actuarial analysis[492]. Acquisitions and Goodwill - The total purchase consideration for the MoLo acquisition was $330.8 million, which includes $237.1 million in net cash consideration and $93.7 million in contingent consideration[538]. - The goodwill recorded from the MoLo acquisition amounted to $219.0 million, reflecting the excess purchase price over the fair value of net assets acquired[540]. - As of December 31, 2022, total goodwill increased to $305,382 thousand from $300,337 thousand in 2021, reflecting an acquisition of MoLo[545]. Taxation - The total provision for income taxes in 2022 was $94,946 thousand, an increase from $63,633 thousand in 2021[552]. - The effective tax rate for 2022 was 24.1%, compared to 23.0% in 2021[555]. - Income taxes paid in 2022 totaled $148.7 million, significantly higher than $77.5 million in 2021[555]. Pension and Employee Benefits - ABF Freight contributed approximately $154.6 million to multiemployer pension plans in 2022, an increase from $146.9 million in 2021, reflecting a year-over-year growth of about 5.4%[622]. - The company's pension and postretirement liabilities, less current portion, were $338 million in 2022 compared to $381 million in 2021, indicating a decrease of 11.3%[593]. - The company's matching expense for nonunion 401(k) plans increased to $9.4 million in 2022 from $7.7 million in 2021, a rise of 22.1%[608].

ArcBest Corporation (NASDAQ:ARCB) Q4 2022 Earnings Conference Call February 3, 2023 9:30 AM ET Company Participants David Humphrey - Vice President, Investor Relations Judy McReynolds - Chairman, President, and Chief Executive Officer David Cobb - Chief Financial Officer Danny Loe - President of Asset-light Logistics, and Chief Yield Officer Dennis Anderson - Chief Customer Officer Conference Call Participants Chris Wetherbee - Citigroup Ravi Shanker - Morgan Stanley Jason Seidl - Cowen Jordan Alliger - Gol ...

Financial Performance - ArcBest Consolidated revenue for Q4 2022 was $12 billion, a 5% increase compared to Q4 2021[12] - ArcBest Consolidated revenue for the full year 2022 reached $53 billion, a 34% increase compared to 2021[12] - Non-GAAP Operating Income for ArcBest Consolidated in Q4 2022 was $827 million, a 19% decrease[12] - Non-GAAP Operating Income for the full year 2022 was $4729 million, a 49% increase[12] - Non-GAAP Net Income per diluted share for the full year 2022 was $1366, a 60% increase[12] - Asset-Based revenue for the full year 2022 was $30 billion, a 17% increase per day[13] - Asset-Light revenue for the full year 2022 was $25 billion, a 60% increase per day[16] Strategic Initiatives - Cross-sold accounts increased by 20% year-over-year[11] - 33% of accounts were cross-sold in FY 2022, compared to 17% in 2012[5] - Over 60% of asset-light customers also use ABF (Asset-Based) services[5, 24] Future Outlook - The company is focused on reaching $7 billion to $8 billion in revenue by 2025 in the asset-light segment[11]

ArcBest Corporation (NASDAQ:ARCB) Q3 2022 Earnings Conference Call November 1, 2022 9:30 AM ET Company Participants David Humphrey – Vice President-Investor Relations Judy McReynolds – Chairman, President and Chief Executive Officer David Cobb – Chief Financial Officer Danny Loe – President-Asset-light Logistics & Chief Yield Officer Dennis Anderson – Chief Customer Officer Conference Call Participants Chris Wetherbee – Citigroup Jordan Alliger – Goldman Sachs Jack Atkins – Stephens Incorporated Jason Seidl ...

Financial Performance - Q3 2022 - ArcBest consolidated revenue reached $1.4 billion[13] - Non-GAAP operating income was $131.1 million[13], a 33% year-over-year increase[13] - Non-GAAP net income was $3.80 per diluted share[15], a 43% year-over-year increase[15] - Asset-Based revenue was $791.5 million[16], a 29% year-over-year increase[16] - Asset-Light revenue was $604.5 million[18], a 61% year-over-year increase[18] Financial Position - Trailing twelve months EBITDA was $590 million[15] - The company had a liquidity of $541 million[15] - The company had a net cash of $48 million[15] Asset-Based Segment Metrics - Asset-Based segment achieved a Non-GAAP operating ratio of 85.3%[16], a 140 bps year-over-year improvement[16] - Total Billed Revenue per hundredweight increased 16% year-over-year[16] - Daily shipments increased 4.4% year-over-year[16] - Daily tonnage increased 11.1% year-over-year[16] Asset-Light Segment Metrics - Asset-Light segment Non-GAAP operating income was $19.9 million[18] - Asset-Light segment Adjusted EBITDA was $21.8 million[18], a 53% year-over-year increase[18] - October 2022 Daily Revenue for Asset-Light operations increased 40% year-over-year[18] Strategic Initiatives - The company is focused on reaching $7 billion to $8 billion in revenue by 2025[11] - Over 60% of asset-light customers also use asset-based services[5, 26]

ArcBest Corporation (NASDAQ:ARCB) Q2 2022 Earnings Conference Call July 29, 2022 9:30 AM ET Company Participants David Humphrey - Vice President, Investor Relations Judy McReynolds - Chairman, President & Chief Executive Officer David Cobb - Chief Financial Officer Dennis Anderson - Chief Customer Officer Danny Loe - President, Asset-light Logistics & Chief Yield Officer Conference Call Participants Chris Wetherbee - Citi Jack Atkins - Stephens Ken Hoexter - BOA Todd Fowler - KeyBanc Capital Markets Jordan ...