LOS ANGELES, June 13, 2024 (GLOBE NEWSWIRE) -- SupplyTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout technology companies, products and services in the supply chain technology and logistics industry around the globe, today announced that ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, has received “Robotics Innovation of the Year” in the annual SupplyTech Breakthrough Awards program. ArcBest’s Vaux is material handling technology ...

Core Insights - ArcBest has been awarded "Robotics Innovation of the Year" by SupplyTech Breakthrough for its Vaux technology, which enhances supply chain logistics through advanced automation solutions [1][5]. Company Overview - ArcBest is a multibillion-dollar integrated logistics company founded in 1923, employing 15,000 people across 250 campuses and service centers, focusing on connecting shippers with various transportation solutions [7]. - The company has a history of innovation and is committed to developing technologies that address current and future supply chain challenges [7][8]. Technology Details - Vaux technology includes the Vaux Freight Movement System™ and Vaux Smart Autonomy™, which utilize autonomous mobile robots (AMRs) to improve material handling efficiency in warehouses and distribution centers [2][3]. - The Vaux Freight Movement System allows for the unloading of an entire trailer in under five minutes, significantly enhancing operational efficiency [2]. - Vaux Smart Autonomy prioritizes safety with built-in protocols and obstacle detection, reducing the risk of accidents and injuries associated with traditional material handling [3][4]. Market Impact - The Vaux system enables data-driven decision-making by syncing with warehouse management systems, providing insights into performance metrics and optimizing workflows [4]. - The technology is designed to adapt to various facility conditions and processes, allowing businesses to implement automation without significant structural changes, thus making it a cost-effective solution [6]. Industry Recognition - The SupplyTech Breakthrough Awards program evaluates top technology companies and products in the supply chain and logistics industry, with this year's program receiving thousands of nominations from over 15 countries [5][9].

Core Viewpoint - Three stocks have been added to the Zacks Rank 5 (Strong Sell) List, indicating a negative outlook for these companies based on recent earnings estimate revisions [1] Company Summaries - **ArcBest (ARCB)**: This company provides freight transportation services and solutions. The Zacks Consensus Estimate for its current year earnings has been revised downward by 16.2% over the last 60 days [1] - **Atlantic Union Bankshares (AUB)**: This company offers banking services to consumers and businesses. The Zacks Consensus Estimate for its current year earnings has been revised downward by almost 9% over the last 60 days [1] - **B&G Foods (BGS)**: This company manufactures, sells, and distributes high-quality, shelf-stable, frozen food and household products across the United States, Canada, and Puerto Rico. The Zacks Consensus Estimate for its current year earnings has been revised downward by 6% over the last 60 days [1]

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:ARMOUR Residential REIT, Inc. (ARR) invests in residential mortgage-backed securities. The Zacks Consensus Estimate for its current year earnings has been revised 18.6% downward over the last 60 days.ArcBest Corporation (ARCB) is a freight transportation and integrated logistics services company. The Zacks Consensus Estimate for its current year earnings has been revised 16.2% downward over the last 60 days.B&G Foods, Inc. (BGS) is a ...

Core Viewpoint - Transportation stocks are currently underperforming, with the Dow Jones Transportation Index up only 5% over the past six months compared to the S&P 500's 18% gain, suggesting a potential sell-off in this sector [1] Group 1: Transportation Stocks Overview - The transportation sector is sensitive to fuel price hikes, regulatory changes, and economic conditions, leading to a recommendation to consider selling transportation stocks [1] - Major transportation companies have missed earnings expectations despite a generally positive earnings season for corporate America [1] - The Biden administration's new rule for automatic cash refunds to airline passengers is negatively impacting the transportation sector [1] Group 2: Company-Specific Analysis Southwest Airlines (LUV) - Southwest Airlines experienced a strong recovery during the pandemic but is now facing rising labor costs and inflation, which have reduced its profitability margins [2] - The airline received only 20 jets this year instead of the forecasted 84, complicating its revenue growth efforts [2] - The company reported a significant miss in both top and bottom lines for Q1 earnings, indicating a challenging near-term outlook [2] JB Hunt (JBHT) - JB Hunt has missed earnings estimates in five out of the last six quarters, resulting in a year-to-date stock decline of over 14% [3][4] - The trucking industry is experiencing overcapacity, leading to intensified pricing pressures that are negatively affecting JB Hunt's bottom line [4] - The Intermodal segment is particularly struggling, with a 0.2% year-over-year drop in volume growth, indicating a loss of competitive edge [4] ArcBest (ARCB) - ArcBest's stock surged by 34% last year despite weak fundamentals, with net income dropping from $298.2 million to $195.4 million in 2023 [5][6] - The company reported a 3% year-over-year sales decline in Q1 amidst a softer freight environment, with total daily tonnage down by 16.8% [6] - The long-term strategies of ArcBest are unlikely to provide immediate relief, given the current operational challenges [5][6]

ArcBest (ARCB) is a Zacks Rank #5 (Strong Sell) as earnings estimates have tracked lower after a recent earnings miss.  The company is best known for its freight transportation services and solutions. This article will look at why this stock is a Zacks Rank #5 (Strong Sell) as it is the Bear of the Day.DescriptionArcBest Corporation provides freight transportation services and solutions. The company's Freight Transportation segment offers transportation of general commodities; motor carrier freight transpor ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 000-19969 ARCBEST CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of in ...

Financial Data and Key Metrics Changes - ArcBest generated $1 billion in revenue for Q1 2024, a decrease of 6% compared to the previous year [13] - Non-GAAP operating income was $43 million, down from $52 million in Q1 2023, with adjusted earnings per share at $1.34, down from $1.58 [13] - The asset-based business maintained the same level of non-GAAP operating income as the previous year despite a 3% decrease in revenue per day [13][14] Business Line Data and Key Metrics Changes - The Asset-Light segment reported revenue of $396 million, a daily decrease of approximately 9% year-over-year, with shipments per day increasing by 14% but revenue per shipment decreasing by 20% [14] - The asset-based business had revenue of $672 million, a per day decrease of 3%, with a non-GAAP operating ratio of 92.0%, an improvement of 30 basis points year-over-year [15][16] - Tonnage per day decreased by 17% and daily shipments were 6% below prior year levels, although core LTL shipments and tonnage continued to grow [16] Market Data and Key Metrics Changes - Demand for services remains strong with a solid pipeline that has grown by 35% since the start of the year [9] - Preliminary results for April showed shipments per day trending higher by 10%, while revenue per shipment was down 18% [15] - The company achieved the highest on-time performance and network efficiency since 2021 despite severe weather conditions in January [9] Company Strategy and Development Direction - ArcBest is focused on a three-point strategy of accelerating growth, increasing efficiency, and driving innovation while managing costs effectively [8] - Strategic investments include opening new facilities to enhance productivity and operational efficiency, with a new facility in Olathe, Kansas already showing double-digit productivity improvements [10][23] - The company is committed to innovation, with the launch of the Box Suite FOX smart autonomy solution aimed at enhancing supply chain efficiencies [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market softness and weather challenges, highlighting a strong commitment to operational excellence [9][11] - The management team remains optimistic about future growth opportunities, particularly in the core business, as they expect improvements in the truckload market and manufacturing economy [40][41] - The company anticipates that improvements in operating costs and productivity will position them well for the eventual recovery of the truckload brokerage market [15] Other Important Information - A noncash impairment charge related to the investment in Fantom Auto resulted in a $22 million reduction in net income [11] - The company has been recognized for its commitment to employee training and development, receiving accolades for its quality processes and operational excellence [20][24] Q&A Session Summary Question: How does the company balance price and volume as it enters an upcycle? - The company aims for both growth and appropriate pricing, utilizing a robust activity-based costing system to ensure profitability at both shipment and customer levels [30] Question: Will higher incremental margins be seen as volumes return? - Management believes there is significant operating leverage across both business segments, with expectations that revenue increases will largely contribute to the bottom line [33] Question: What is the outlook for tonnage and shipment levels? - Management indicated that significant changes in tonnage are expected as the market stabilizes, with more consistent results anticipated in the third quarter [37] Question: How does the company view the economic backdrop affecting core business? - The core business remains strong, with expectations for significant increases in core business as operational efficiency metrics continue to improve [45][46] Question: What is the company's strategy regarding technology investments? - The company distinguishes between pilot-stage investments and regular operational costs, indicating that ongoing technology investments are aimed at long-term improvements [50][52]

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 ...