Earnings were weak as truckers continue to drive through a soft patch.A miserable earnings season for the trucking sector continued on Tuesday with results from ArcBest (ARCB -12.89%). Shares of the Arkansas-based transportation and logistics provider traded down 13% as of 2:30 p.m. ET following the release of its quarterly earnings report.A cool climate for demandArcBest investors were likely fearing the worst, ahead of the company's earnings release. A number of trucking stocks that have already reported, ...

For the quarter ended March 2024, ArcBest (ARCB) reported revenue of $1.04 billion, down 6.3% over the same period last year. EPS came in at $1.34, compared to $1.58 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.03 billion, representing a surprise of +0.97%. The company delivered an EPS surprise of -12.99%, with the consensus EPS estimate being $1.54.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expe ...

ArcBest (ARCB) came out with quarterly earnings of $1.34 per share, missing the Zacks Consensus Estimate of $1.54 per share. This compares to earnings of $1.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -12.99%. A quarter ago, it was expected that this freight transportation and logistics company would post earnings of $2.19 per share when it actually produced earnings of $2.47, delivering a surprise of 12.79%.Over the la ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) ArcBest reported a Q1 2024 revenue decline and a GAAP net loss, primarily due to an impairment charge, with non-GAAP net income also decreasing Key GAAP Financial Highlights | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Revenue from Continuing Operations** | $1.0 billion | $1.1 billion | | **Operating Income from Continuing Operations** | $22.4 million | $21.2 million | | **Net (Loss) Income from Continuing Operations** | ($2.9 million) | $18.8 million | | **Diluted EPS from Continuing Operations** | ($0.12) | $0.75 | - The first quarter net loss from continuing operations includes a significant **$21.6 million** after-tax, noncash impairment charge related to the company's equity investment in Phantom Auto, which ceased operations during the quarter[2](index=2&type=chunk) Key Non-GAAP Financial Highlights | Non-GAAP Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Operating Income from Continuing Operations** | $42.6 million | $51.9 million | | **Net Income from Continuing Operations** | $32.3 million | $39.5 million | | **Diluted EPS from Continuing Operations** | $1.34 | $1.58 | [Segment Performance](index=2&type=section&id=Segment%20Performance) The Asset-Based segment maintained Q1 2024 non-GAAP operating income despite lower revenue, contrasting with the Asset-Light segment's decline [Asset-Based Segment](index=2&type=section&id=Asset-Based) The Asset-Based segment reported lower Q1 2024 revenue but maintained non-GAAP operating income and improved its operating ratio Asset-Based Segment Key Metrics | Metric (YoY Change) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Revenue (in millions) | $671.5 | $697.8 | | Total Tonnage Per Day | -16.8% | N/A | | Total Shipments Per Day | -6.2% | N/A | | Billed Revenue / CWT | +15.6% | N/A | | GAAP Operating Income (in millions) | $53.5 | $47.5 | | Non-GAAP Operating Income (in millions) | $53.5 | $53.5 | | Non-GAAP Operating Ratio | 92.0% | 92.3% | - Pricing momentum continued with contract renewal increases of **5.3%**, and the overall LTL industry pricing environment remains rational[6](index=6&type=chunk) - Sequentially, Q1 2024 performance was impacted by weather in January and fewer workdays in March, leading to an **8.4%** decrease in revenue per day compared to Q4 2023[7](index=7&type=chunk) [Asset-Light Segment](index=2&type=section&id=Asset-Light) The Asset-Light segment experienced decreased Q1 2024 revenue and a non-GAAP operating loss, primarily due to lower truckload rates and margins Asset-Light Segment Key Metrics | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | | :--- | :--- | :--- | | Revenue | $396.4 | $438.1 | | GAAP Operating Loss | ($15.3) | ($14.1) | | Non-GAAP Operating (Loss) Income | ($4.7) | $4.1 | | Adjusted EBITDA | ($2.9) | $6.0 | - Profitability challenges stemmed from lower rates and margins for truckload solutions, though this was partly mitigated by a **13.6%** increase in shipments per day and improved SG&A cost per shipment[9](index=9&type=chunk) - The Q1 non-GAAP operating loss was primarily due to performance in January, affected by weather events causing higher purchased transportation costs, with improvements seen through the rest of the quarter[10](index=10&type=chunk) [Consolidated Financial Statements](index=7&type=section&id=Consolidated%20Financial%20Statements) ArcBest's Q1 2024 consolidated financials show revenue decline, a GAAP net loss from a non-operating charge, decreased assets, and lower operating cash flow [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 2024 revenues decreased to $1.04 billion, resulting in a net loss from continuing operations due to a significant 'Other, net' cost Consolidated Statements of Operations (in thousands) | (In thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Revenues** | $1,036,419 | $1,106,094 | | **Operating Income** | $22,435 | $21,159 | | **Net (Loss) Income from Continuing Operations** | ($2,912) | $18,847 | | **Diluted EPS from Continuing Operations** | ($0.12) | $0.75 | [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets decreased to $2.36 billion, primarily from reduced cash, with stockholders' equity also slightly declining Consolidated Balance Sheet Summary (in thousands) | (In thousands) | March 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $758,478 | $884,783 | | **Total Assets** | $2,357,143 | $2,485,094 | | **Total Current Liabilities** | $618,575 | $701,563 | | **Total Stockholders' Equity** | $1,222,733 | $1,242,363 | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2024 net cash from operating activities significantly decreased to $6.5 million, with net cash used in investing and financing activities Consolidated Statements of Cash Flows Summary (in thousands) | (In thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $6,467 | $20,663 | | **Net Cash (Used in) Provided by Investing Activities** | ($56,993) | $70,960 | | **Net Cash Used in Financing Activities** | ($38,845) | ($46,676) | | **Net (Decrease) Increase in Cash** | ($89,371) | $44,947 | [Segment Financial Data and Operating Ratios](index=11&type=section&id=Segment%20Financial%20Data%20and%20Operating%20Ratios) This section details Q1 2024 segment revenues, operating income/loss, and operating ratios for Asset-Based and Asset-Light segments Q1 2024 Segment Financial Data (in millions) | Segment (Q1 2024) | Revenue (in millions) | Operating Income (Loss) (in millions) | Operating Ratio | | :--- | :--- | :--- | :--- | | **Asset-Based** | $671.5 | $53.5 | 92.0% | | **Asset-Light** | $396.4 | ($15.3) | 103.8% | Q1 2023 Segment Financial Data (in millions) | Segment (Q1 2023) | Revenue (in millions) | Operating Income (Loss) (in millions) | Operating Ratio | | :--- | :--- | :--- | :--- | | **Asset-Based** | $697.8 | $47.5 | 93.2% | | **Asset-Light** | $438.1 | ($14.1) | 103.2% | [GAAP to Non-GAAP Reconciliations](index=12&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliations) This section reconciles GAAP to non-GAAP financial measures, adjusting for non-core items to provide a clearer view of operating performance - Management believes non-GAAP measures provide meaningful comparisons by removing items that do not reflect core operating performance, such as acquisition-related costs and one-time charges[24](index=24&type=chunk) - Major non-GAAP adjustments for Q1 2024 include: innovative technology costs (**$9.7 million** pre-tax), purchase accounting amortization (**$3.2 million** pre-tax), change in fair value of contingent consideration (**$7.3 million** pre-tax), and a change in fair value of an equity investment (**$28.7 million** pre-tax)[25](index=25&type=chunk)[30](index=30&type=chunk) [Consolidated Non-GAAP Reconciliations](index=12&type=section&id=Consolidated%20Non-GAAP%20Reconciliations) Q1 2024 consolidated GAAP operating income was adjusted to **$42.6 million** non-GAAP, with net loss reconciled to **$32.3 million** non-GAAP net income Consolidated Operating Income Reconciliation (in thousands) | Reconciliation (Q1 2024, in thousands) | Amount | | :--- | :--- | | **GAAP Operating Income** | **$22,435** | | Adjustments | $20,210 | | **Non-GAAP Operating Income** | **$42,645** | Consolidated Net Income Reconciliation (in thousands) | Reconciliation (Q1 2024, in thousands) | Amount | | :--- | :--- | | **GAAP Net Loss** | **($2,912)** | | Adjustments | $35,229 | | **Non-GAAP Net Income** | **$32,317** | [Segment Non-GAAP Reconciliations](index=13&type=section&id=Segment%20Non-GAAP%20Reconciliations) Q1 2024 Asset-Based segment had no non-GAAP adjustments, while Asset-Light's GAAP operating loss was adjusted to a non-GAAP loss Asset-Based Segment Operating Income Reconciliation (in thousands) | Asset-Based Segment (Q1 2024) | Operating Income (in thousands) | Operating Ratio | | :--- | :--- | :--- | | **GAAP** | $53,456 | 92.0% | | **Non-GAAP** | $53,456 | 92.0% | Asset-Light Segment Operating Loss Reconciliation (in thousands) | Asset-Light Segment (Q1 2024) | Operating Loss (in thousands) | Operating Ratio | | :--- | :--- | :--- | | **GAAP** | ($15,258) | 103.8% | | Adjustments | $10,512 | (2.6%) | | **Non-GAAP** | ($4,746) | 101.2% | [Adjusted EBITDA Reconciliation](index=15&type=section&id=Adjusted%20EBITDA%20Reconciliation) Q1 2024 consolidated Adjusted EBITDA decreased to **$73.3 million**, with the Asset-Light segment reporting a negative Adjusted EBITDA Adjusted EBITDA from Continuing Operations (in millions) | Adjusted EBITDA from Continuing Operations | Q1 2024 (in millions) | Q1 2023 (in millions) | | :--- | :--- | :--- | | **Consolidated** | $73.3 | $78.1 | | **Asset-Light** | ($2.9) | $6.0 | [Operating Statistics](index=17&type=section&id=Operating%20Statistics) Q1 2024 Asset-Based segment saw decreased tonnage and shipments but increased billed revenue per hundredweight, while Asset-Light saw decreased revenue per shipment but increased daily shipments Asset-Based Segment Operating Statistics | Asset-Based Statistics | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | Billed Revenue / CWT | $48.56 | $41.99 | 15.6% | | Shipments / Day | 19,566 | 20,856 | (6.2%) | | Tons / Day | 10,937 | 13,149 | (16.8%) | Asset-Light Segment Operating Statistics | Asset-Light Statistics (YoY % Change) | Q1 2024 | | :--- | :--- | | Revenue / Shipment | (19.7%) | | Shipments / Day | 13.6% | [Additional Information](index=4&type=section&id=Additional%20Information) This section provides investor conference call details, an overview of ArcBest, and a safe harbor statement on forward-looking statements and risks - A conference call to discuss Q1 2024 results was scheduled for April 30, 2024, at **9:30 a.m. EDT**[11](index=11&type=chunk) - ArcBest is a multibillion-dollar integrated logistics company founded in **1923**, with **15,000 employees** across **250 locations**[12](index=12&type=chunk) - The press release contains forward-looking statements subject to risks and uncertainties, as detailed in the company's SEC filings, cautioning readers not to place undue reliance[14](index=14&type=chunk)[15](index=15&type=chunk)

Investors are always looking for stocks that are poised to beat at earnings season and ArcBest Corporation (ARCB) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because ArcBest is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good i ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering ArcBest (ARCB) , which belongs to the Zacks Transportation - Truck industry.When looking at the last two reports, this freight transportation and logistics company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 30.91%, on average, in the last two quarters.For the most recent quarter, ArcBest was expected to ...

Several factors have dimmed the sentiment of the Zacks Transportation - Truck industry. These factors include worries regarding global economic growth and reduced freight demand. Truck driver shortages and supply-chain woes act as deterrents. Despite macroeconomic challenges causing uncertainty in demand, the industry demonstrates resilience, especially for companies prioritizing growth and operational efficiency. Among the companies in the industry that will probably survive the business challenges are J.B ...

Company Performance - ArcBest (ARCB) shares increased by 6% to $146.23 in the last trading session, contrasting with a 1.7% loss over the past four weeks [1] - Year-to-date, ArcBest's shares have gained 21.7%, attributed to the company's automation efforts in the supply chain and operational efficiencies [1] - The upcoming quarterly earnings are expected to be $1.66 per share, reflecting a year-over-year increase of 5.1%, while revenues are projected at $1.04 billion, down 5.6% from the previous year [1] Earnings Estimates and Trends - The consensus EPS estimate for ArcBest has been revised 1.1% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [2] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [2] Industry Context - ArcBest operates within the Zacks Transportation - Truck industry, where peers like Saia (SAIA) have also shown performance fluctuations, with SAIA closing 0.8% lower at $601.36 and returning 13% over the past month [2] - Saia's consensus EPS estimate has increased by 0.3% to $3.38, representing an 18.6% change compared to the previous year [3]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2023. ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . Common Stock, $0.01 Par Value ARCB The Nasdaq Global Select Market Securities registered pursuant to Section 12(g) of the Act: None (Title of Class) Indi ...

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