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ArcBest(ARCB) - 2025 Q1 - Quarterly Results
2025-04-29 10:00
Exhibit 99.1 Investor Relations Contact: Amy Mendenhall Media Contact: Autumnn Mahar Phone: 479-785-6200 Phone: 479-494-8221 Email: invrel@arcb.com Email: amahar@arcb.com ArcBest Announces First Quarter 2025 Results FORT SMITH, Arkansas, April 29, 2025 — ArcBest ® (Nasdaq: ARCB), a leader in supply chain logistics, today reported first quarter 2025 revenue of $967.1 million, compared to $1.0 billion in first quarter 2024. Net income from continuing operations was $3.1 million, or $0.13 per diluted share, co ...
Earnings Preview: ArcBest (ARCB) Q1 Earnings Expected to Decline
ZACKS· 2025-04-22 15:06
The market expects ArcBest (ARCB) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Apr ...
ArcBest Corporation: Stock Performance At Its Worst, But Upside Potential At Its Best
Seeking Alpha· 2025-04-04 11:17
Freight and logistics remain challenged amid the sticky inflation and softer demand. Even ArcBest Corporation (NASDAQ: ARCB ) , an industry player that has existed for nearly 60 years, cannot cushion the impact. Its weaker topline performance was evident in 2024. Despite allI have been working in the logistics sector for almost two decades. I have been into stock investing and macroeconomic analysis for almost a decade. Currently, I focus on ASEAN and NYSE/NASDAQ Stocks, particularly in banks, telco, logist ...
ArcBest Corporation: An Attractive Ride, Even In Light Of Major Challenges
Seeking Alpha· 2025-03-23 02:33
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ArcBest(ARCB) - 2024 Q4 - Annual Report
2025-03-03 21:02
Financial Performance - Revenues for 2024 were $4,179,019, a decrease of 5.6% from $4,427,443 in 2023[455] - Operating income increased to $244,434 in 2024, up 41.6% from $172,619 in 2023[455] - Net income from continuing operations was $173,361, representing a 22% increase compared to $142,164 in 2023[455] - Net income for 2024 was $173.961 million, a decrease of 10.9% from $195.433 million in 2023 and a significant drop from $298.209 million in 2022[460] - The company reported a total comprehensive income of $169,909 in 2024, down from $192,654 in 2023[457] - Total consolidated revenues decreased to $4.179 billion in 2024 from $4.427 billion in 2023, a decline of approximately 5.6%[622] - The Asset-Based segment generated revenues of $2.750 billion in 2024, down from $2.871 billion in 2023, a decrease of 4.2%[622] - The Asset-Light segment's revenues fell to $1.553 billion in 2024 from $1.681 billion in 2023, a decline of 7.6%[622] Assets and Liabilities - Total current assets decreased to $675,642 in 2024, down 23.6% from $884,783 in 2023[454] - Total assets decreased to $2,429,731 in 2024, down 2.2% from $2,485,094 in 2023[454] - Total stockholders' equity increased to $1,314,362 in 2024, up 5.8% from $1,242,363 in 2023[454] - Cash and cash equivalents decreased to $127,444 in 2024, down 51.4% from $262,226 in 2023[454] - Total accrued expenses increased to $394.9 million in 2024 from $378.0 million in 2023, driven by higher workers' compensation and casualty claims reserves[569] - Long-term debt as of December 31, 2024, totaled $189.1 million, an increase from $178.9 million in 2023, with a weighted-average interest rate of 4.6%[557] Cash Flow and Investments - The Company reported net cash provided by operating activities of $285.846 million in 2024, down from $322.167 million in 2023[460] - The Company purchased property, plant, and equipment totaling $223.103 million in 2024, compared to $219.021 million in 2023[460] - Cash and cash equivalents at the end of 2024 were $127.444 million, a decrease from $262.226 million at the end of 2023[460] - The fair value of the company's equity investment in Phantom Auto increased by $3.7 million in 2023[627] Market Risks - Future borrowings under the Credit Facility and A/R Securitization are at a SOFR based variable interest rate, exposing the company to interest rate risks[435] - The company is exposed to market risk from changes in interest rates, diesel fuel prices, and foreign currency exchange rates[433] - The company has not engaged in a program for fuel price hedging and had no fuel hedging agreements outstanding as of December 31, 2024[438] - The company has not entered into any foreign currency forward exchange contracts to hedge against adverse fluctuations in foreign currency exchange rates[440] Employee and Pension Obligations - The Company recognized discretionary contribution expenses of $11.5 million in 2024, compared to $13.1 million in 2023 and $19.1 million in 2022[580] - The Company reported a matching expense for nonunion 401(k) plans totaling $9.2 million in 2024, up from $7.1 million in 2023[580] - Approximately 4% of ABF Freight's multiemployer pension plan contributions in 2024 were made to plans in "critical and declining status" and 54% to plans in "critical status"[592] - The funded percentage of the Central States Pension Plan was reported at 98.5% as of January 1, 2023, despite being in critical status through 2051 due to SFA Program funding[599] Shareholder Returns - The Company declared dividends on common stock amounting to $11.295 million in 2024, slightly down from $11.542 million in 2023[460] - Dividends declared for 2024 were consistent at $0.12 per share across all four quarters, totaling approximately $11.3 million for the year[608] - In 2024, the company repurchased 654,707 shares for a total cost of $75.2 million, leaving $56.6 million remaining under the share repurchase program[611] Impairments and Write-offs - The company recorded a pre-tax, noncash impairment charge of $28.7 million for its equity investment in Phantom Auto in Q1 2024 due to the company's cessation of operations[530] - The accumulated impairment of goodwill remained at $20 million as of December 31, 2024, with no impairment identified during the annual evaluation[537] - The company recorded impairment charges for revenue equipment and software totaling $1.7 million in Q4 2024 as part of a strategic decision to adjust capacity[531] Revenue Recognition and Accounting Policies - The company recognizes revenue based on the expense incurred relative to each shipment's transit time, utilizing a bill-by-bill analysis for revenue recognition[501] - The company estimates variable consideration for discounts based on historical expectations, ensuring revenue recognition aligns with actual amounts earned[502] - The company has adopted an amendment to ASC Topic 280, enhancing disclosures of significant segment expenses, effective from the fourth quarter of 2024[515]
3 Truck Stocks Worth Keeping An Eye On Despite Industry Pressure
ZACKS· 2025-02-25 16:15
Core Viewpoint - The Zacks Transportation-Truck industry is currently facing significant challenges, including weak freight rates, driver shortages, inflation, and ongoing supply-chain disruptions, which are impacting its overall performance and outlook [1][4][6]. Industry Overview - The Zacks Transportation-Truck industry consists of truck operators that transport freight across North America, offering various services such as full-truckload and less-than-truckload (LTL) [3]. - Companies in this industry also provide logistics, intermodal services, and value-added services like supply-chain consulting and warehousing [3]. Current Trends - Supply-chain disruptions and weak freight rates are negatively affecting the industry, with the Cass Freight Shipments Index declining by 8.2% year over year in January, indicating a consistent downward trend throughout 2024 [4]. - The industry is experiencing a prolonged truck-driver shortage, with an expected shortfall of over 160,000 drivers by 2030, exacerbating supply-chain challenges [6]. Financial Performance - Companies in the industry are returning value to shareholders through dividends and buybacks, reflecting their financial strength. For instance, Old Dominion Freight Line (ODFL) announced an increase in its quarterly dividend [5]. - The Zacks Transportation-Truck industry has underperformed the S&P 500, declining by 31.7% over the past year compared to the S&P 500's increase of 19.7% [11]. Valuation Metrics - The industry is currently trading at an EV-to-EBITDA ratio of 17.1X, slightly below the S&P 500's 17.52X but above the sector's 11.11X [13]. Company Highlights - **Forward Air Corporation (FWRD)**: This asset-light freight and logistics company is focused on growth through acquisitions, recently acquiring Edgmon Trucking. The Zacks Consensus Estimate for its 2025 earnings has been revised upward by 8.3% [15]. - **ArcBest Corporation (ARCB)**: The company is improving productivity and service quality, expecting a 11.5% increase in its 2025 earnings per share compared to 2024 [18]. - **Old Dominion Freight Line (ODFL)**: Known for its shareholder-friendly measures, ODFL anticipates a 3.7% increase in its 2025 earnings per share from 2024 [20].
ArcBest (ARCB) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
ZACKS· 2025-01-31 15:31
Core Insights - ArcBest reported revenue of $1 billion for the quarter ended December 2024, reflecting an 8.1% decrease year-over-year, with EPS at $1.33 compared to $2.47 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $997.94 million by 0.37%, while the EPS surpassed the consensus estimate of $1.05 by 26.67% [1] Financial Performance Metrics - Asset-Based billed revenue per CWT was $49.27, slightly above the average estimate of $48.86 [4] - Asset-Light operating ratio was reported at 100.4%, better than the average estimate of 102.1% [4] - Asset-Based shipments per day were 19,698 tons, compared to the estimated 19,865.21 tons [4] - Asset-Based operating ratio (Non-GAAP) was 92%, compared to the average estimate of 93% [4] - Asset-Based workdays were consistent at 62, matching the average estimate [4] - Asset-Based pounds per shipment were 1,092 lbs, slightly below the average estimate of 1,098.08 lbs [4] - Asset-Based tons per day were reported at 10,758 tons, lower than the average estimate of 10,906.58 tons [4] - Asset-Light operating ratio (Non-GAAP) was 101.6%, close to the average estimate of 101.7% [4] - Revenues from Asset-Based operations were $656.22 million, slightly above the estimate of $653.87 million, but down 7.6% year-over-year [4] - Revenues from Asset-Light operations were $375.43 million, below the average estimate of $376.19 million, representing a 9.2% decline year-over-year [4] - Revenues from other and eliminations were -$30.01 million, better than the estimate of -$31.83 million, with an 11.4% decrease compared to the previous year [4] Stock Performance - ArcBest shares returned +2.8% over the past month, slightly underperforming the Zacks S&P 500 composite's +2.9% change [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance in the near term [3]
ArcBest(ARCB) - 2024 Q4 - Earnings Call Presentation
2025-01-31 15:14
Earnings Presentation Three-Point Strategy Continues to Deliver Shareholder Value & Drive Business Growth 1 2 3 Increase Efficiency Leverage technology Optimize ABF network Drive scale and productivity to improve Asset-Light operating margin Drive Innovation Develop and implement disruptive and game changing innovations Launch new revenue streams Co-create and scale with customers Accelerate Growth Secure new customers to maximize profitability Expand with existing customers through market penetration Retai ...
ArcBest(ARCB) - 2024 Q4 - Annual Results
2025-01-31 11:00
Financial Performance - Fourth quarter 2024 revenue was $1.0 billion, a decrease of 9.1% from $1.1 billion in the same quarter of 2023[2] - Net income for the fourth quarter 2024 was $29.0 million, or $1.24 per diluted share, down from $48.8 million, or $2.01 per diluted share in the prior year[2] - Full year 2024 revenue totaled $4.2 billion, a decline of 4.5% compared to $4.4 billion in 2023[3] - Full year net income from continuing operations was $173.4 million, or $7.28 per diluted share, compared to $142.2 million, or $5.77 per diluted share in 2023[3] - Revenues for Q4 2024 were $1,001,645, a decrease of 8.1% from $1,089,535 in Q4 2023[22] - Operating income for Q4 2024 was $38,161, down 40.7% from $64,253 in Q4 2023[22] - The year ended December 31, 2024, saw total consolidated revenues of $4,179,019, a decrease of 5.6% from $4,427,443 in 2023[26] - The consolidated Adjusted EBITDA from continuing operations for the year ended December 31, 2024, was $328,599 thousand, down from $369,566 thousand in 2023[38] Asset Performance - The Asset-Based segment experienced a 6.3% decrease in weight per shipment and a 1.1% decrease in daily shipments in Q4 2024[5] - Asset-Light revenues decreased due to lower revenue per shipment and a 2.1% decline in shipments per day compared to Q4 2023[9] - Asset-Based revenues decreased to $656,220 in Q4 2024 from $709,986 in Q4 2023, while Asset-Light revenues fell to $375,432 from $413,425 in the same period[26] - Operating income from continuing operations for Q4 2024 was $38,161, down 40.7% from $64,253 in Q4 2023[33] - The operating income for the Asset-Based Segment on a GAAP basis was $52,335 thousand with an operating ratio of 92.0% for the three months ended December 31, 2024[34] - The Asset-Light Segment reported an operating loss of $1,579 thousand with an operating ratio of 100.4% for the same period[34] Capital Expenditures and Investments - Total net capital expenditures in 2024 were $288 million, including $160 million for revenue equipment[13] - The company incurred $223,103 in capital expenditures for property, plant, and equipment in 2024, compared to $219,021 in 2023[25] - The company plans to continue opportunistic share repurchases while prioritizing organic capital investments[14] Shareholder Returns - ArcBest returned over $85 million to shareholders in 2024 through share repurchases and dividends[14] Assets and Liabilities - Total current assets decreased to $675,642 in 2024 from $884,783 in 2023, a decline of 23.6%[24] - Total liabilities decreased to $1,115,369 in 2024 from $1,174,000 in 2023, a reduction of 5%[24] - Cash and cash equivalents at the end of 2024 were $127,444, down 51.4% from $262,226 at the end of 2023[25] - Net cash provided by operating activities for 2024 was $285,846, a decrease of 11.2% from $322,167 in 2023[25] - The company reported a net increase in cash and cash equivalents of $(134,782) for 2024, contrasting with an increase of $103,854 in 2023[25] Operating Expenses - Operating expenses from continuing operations totaled $963,484 in Q4 2024, a decrease of 6.0% compared to $1,025,282 in Q4 2023[26] - Total operating expenses for the year ended December 31, 2024, were $3,934,585, a decrease of 7.5% from $4,254,824 in 2023[26] Tax and Legal Matters - The effective tax rate for continuing operations was 22.5% for the three months ended December 31, 2024, compared to 28.0% in the same period of 2023[36] - Legal settlements recorded for the three months ended December 31, 2024, were $274 thousand, down from $9,500 thousand in the same period of 2023[36] Other Financial Metrics - The change in fair value of contingent consideration for the MoLo acquisition was a loss of $9,510 in Q4 2024, compared to a loss of $6,300 in Q4 2023[33] - The change in fair value of contingent consideration for the year ended December 31, 2024, was $(90,250) thousand, significantly impacting the overall income[36] - The total depreciation and amortization for the year ended December 31, 2024, was $149,087 thousand, slightly increasing from $145,349 thousand in 2023[38] - The Asset impairment charges for the year ended December 31, 2024, were $1,700 thousand, a significant decrease from $30,162 thousand in 2023[38] Operational Efficiency - Billed revenue per hundredweight (CWT) increased by 0.6% to $49.27 in Q4 2024, while for the year it rose by 11.7% to $49.68[42] - Tonnage per day decreased by 7.3% to 10,758 in Q4 2024, and for the year it fell by 14.3% to 10,968[42] - Revenue per shipment in the Asset-Light segment decreased by 7.2% in Q4 2024 and by 12.8% for the year[43] - Shipments per employee per day increased by 20.8% in Q4 2024 and by 24.2% for the year in the Asset-Light segment[43] - The average length of haul increased by 3.5% to 1,116 miles in Q4 2024, and by 3.1% for the year to 1,126 miles[42]
Earnings Preview: ArcBest (ARCB) Q4 Earnings Expected to Decline
ZACKS· 2025-01-24 16:06
Company Overview - ArcBest (ARCB) is anticipated to report a year-over-year decline in earnings due to lower revenues for the quarter ended December 2024, with earnings expected to be $1.05 per share, reflecting a decrease of 57.5% compared to the previous year [1][3] - Revenues are projected to be $997.94 million, down 8.4% from the same quarter last year [3] Earnings Estimates and Revisions - The consensus EPS estimate for ArcBest has been revised down by 20.72% over the last 30 days, indicating a reassessment by analysts [4] - The Most Accurate Estimate for ArcBest is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +1.91% [10][11] Earnings Surprise Prediction - A positive Earnings ESP reading suggests a potential earnings beat, particularly when combined with a strong Zacks Rank; however, ArcBest currently holds a Zacks Rank of 5, making it challenging to predict an earnings beat [8][11] - Historically, ArcBest has only beaten consensus EPS estimates once in the last four quarters, with a recent surprise of -10.87% in the last reported quarter [12][13] Industry Context - In the Zacks Transportation - Truck industry, Heartland Express (HTLD) is expected to report a loss of $0.04 per share for the same quarter, indicating a year-over-year change of -166.7% [17] - Heartland Express has an Earnings ESP of 25.00% and a Zacks Rank of 3, suggesting a higher likelihood of beating the consensus EPS estimate [18]