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]

Revenue Performance - Consolidated revenues decreased by 5.8% and 4.8% for the three and nine months ended September 30, 2024, compared to the same prior-year periods, primarily due to lower market rates and decreased tonnage levels [109]. - Asset-Based revenues declined by 4.2% and 3.1% for the three and nine months ended September 30, 2024, while Asset-Light revenues decreased by 8.1% and 7.1% for the same periods [109]. - The Asset-Light segment generated approximately 35% and 36% of total revenues for the three and nine months ended September 30, 2024, respectively [111]. - The Asset-Based segment revenues for the three months ended September 30, 2024, totaled $709.7 million, a decrease of 4.2% compared to $741.2 million for the same period in 2023 [134]. - Total shipments decreased by 0.7% for the three months ended September 30, 2024, compared to the same period in 2023, reflecting a softer freight environment [136]. - Tonnage per day decreased by 11.3% for the three months ended September 30, 2024, compared to the same period in 2023, contributing to the revenue decline [134]. Income and Operating Results - Total consolidated operating income increased to $134.993 million for the three months ended September 30, 2024, compared to $45.091 million for the same period in 2023 [108]. - Net income from continuing operations was $100.314 million for the three months ended September 30, 2024, up from $34.927 million in the prior year [108]. - Consolidated net income for the three months ended September 30, 2024, was $100.3 million, compared to $34.9 million for the same period in 2023, representing a significant increase [122]. - Adjusted EBITDA from continuing operations for the three months ended September 30, 2024, was $86.4 million, down from $101.6 million in the prior year, indicating a decrease of approximately 14.9% [122]. - The Asset-Based segment generated operating income of $64.0 million and $190.3 million for the three and nine months ended September 30, 2024, respectively, compared to $74.8 million and $165.6 million for the same periods of 2023 [139]. - The Asset-Light segment operating income totaled $84.8 million and $60.0 million for the three and nine months ended September 30, 2024, compared to an operating loss of $3.7 million and $4.6 million for the same periods of 2023 [157]. Expenses and Impairments - Innovative technology costs decreased consolidated operating results by $8.5 million (pre-tax) for the third quarter of 2024, compared to $14.1 million (pre-tax) for the same period in 2023 [113]. - A one-time, noncash impairment charge of $21.6 million (after-tax) was recognized for the nine months ended September 30, 2024, related to the equity investment in Phantom Auto [115]. - Lease impairment charges reduced operating results by $30.2 million (pre-tax) for the three months ended September 30, 2023 [118]. - Changes in the fair value of contingent earnout consideration reduced expenses by $91.9 million and $80.7 million for the three and nine months ended September 30, 2024, compared to $17.8 million and $12.8 million for the same periods of 2023 [157]. - Labor costs represented 50.5% and 50.4% of Asset-Based segment revenues for the three and nine months ended September 30, 2024, compared to 48.2% and 48.0% for the same periods of 2023 [140]. Cash Flow and Capital Expenditures - Cash provided by operating activities for the nine months ended September 30, 2024, was $229.0 million, an increase of 18.0% compared to $194.0 million in the same prior-year period [183]. - Capital expenditures for the nine months ended September 30, 2024, totaled $163.7 million, with an estimated total for 2024 projected at approximately $300.0 million [184][195]. - Cash, cash equivalents, and short-term investments decreased by $139.0 million from December 31, 2023, to September 30, 2024 [181]. - As of September 30, 2024, cash and cash equivalents decreased to $150.5 million from $262.2 million as of December 31, 2023 [186]. - The company repurchased 478,315 shares of common stock for an aggregate cost of $56.1 million during the nine months ended September 30, 2024 [185][201]. Taxation - The effective tax rate for continuing operations was 26.6% for the three months ended September 30, 2024, compared to 25.5% for the same period in 2023 [211]. - The total provision for income taxes for the nine months ended September 30, 2024, was $36,390 thousand, compared to $25,735 thousand for the same period in 2023 [217]. - The company made federal, state, and foreign tax payments totaling $29.2 million during the nine months ended September 30, 2024 [216]. - The effective tax rate for the nine months ended September 30, 2023, was 23.1%, indicating a decrease in the effective tax rate year-over-year [217]. - The company’s tax benefit from vested RSUs increased significantly due to vesting of RSUs granted in prior years [213]. Market Conditions and Economic Factors - Economic conditions are impacted by higher interest rates, supply chain volatility, and a slowing labor market, with potential disruptions from geopolitical conflicts [166]. - The consumer price index (CPI) increased by 2.4% year-over-year in September 2024, indicating ongoing inflationary pressures [170]. - The soft freight environment resulted in a year-over-year decline in market pricing for many Asset-Light services compared to the first nine months of 2023 [169]. - The estimated settlement expense related to the classification of certain Asset-Light employees under the Fair Labor Standards Act is $9.5 million, with preliminary court approval expected by year-end [179].

Financial Data and Key Metrics Changes - Consolidated revenue decreased by 6% year-over-year to $1.1 billion in Q3 2024 [26] - Non-GAAP operating income from continuing operations was $55 million, down from $75 million in the prior year [26] - Adjusted earnings per share were $1.64, down from $2.31 in Q3 2023 [26] Business Line Data and Key Metrics Changes - Asset-Based segment revenue was $710 million, a daily decrease of 6% [27] - Asset-Light segment revenue was $385 million, a daily decrease of 10% year-over-year [36] - Asset-Based non-GAAP operating ratio increased by 220 basis points year-over-year to 91% [27] Market Data and Key Metrics Changes - Daily shipments in the Asset-Based segment saw a slight decline of less than 1% year-over-year, with weight per shipment decreasing by 11% [28] - Revenue per hundredweight increased by 7% in Q3 2024, with a 5.9% general rate increase implemented on September 9 [30] Company Strategy and Development Direction - The company remains committed to growth, efficiency, and innovation, investing in people, solutions, and technologies [7] - Focus on improving service levels and operational efficiency to enhance margins and customer satisfaction [17][19] - Long-term facility roadmap includes opening remodeled facilities and expanding capacity [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in growth despite a challenging macro environment, citing strong customer relationships and ongoing service improvements [13] - The company anticipates a moderation in year-over-year revenue decreases, expecting mid-single-digit declines for the quarter [35] - Management highlighted the importance of maintaining pricing discipline and operational efficiency to counteract rising costs [31] Other Important Information - The company returned $65 million to shareholders through share buybacks and dividends year-to-date [41] - Capital expenditure estimates for the year have been revised downward to approximately $300 million [41] Q&A Session Summary Question: Trends in pricing environment and customer retention - Management noted that pricing trends remained consistent throughout the quarter, with good retention rates among customers [45][47] Question: Service improvements and cost implications - Management emphasized that service improvements have been achieved without significantly increasing costs, focusing on efficiency and productivity [49][50] Question: Revenue per day expectations - Management indicated that revenue per day is expected to improve as the quarter progresses, driven by easier year-over-year comparisons [54] Question: Weight per shipment dynamics - Management explained that lower weight per shipment is influenced by a shift of higher weight LTL shipments to the truckload market and lower household goods moves due to economic conditions [61][62] Question: Asset-Light segment profitability - Management discussed strategies to improve profitability in the Asset-Light segment, including focusing on account-level profitability and cost control measures [92][96]

ArcBest and and the state of the state of the state of the states of | --- | --- | |----------|-------| | | | | Earnings | | | --- ...

For the quarter ended September 2024, ArcBest (ARCB) reported revenue of $1.06 billion, down 5.8% over the same period last year. EPS came in at $1.64, compared to $2.31 in the year-ago quarter.The reported revenue represents a surprise of -0.37% over the Zacks Consensus Estimate of $1.07 billion. With the consensus EPS estimate being $1.84, the EPS surprise was -10.87%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...

ArcBest (ARCB) came out with quarterly earnings of $1.64 per share, missing the Zacks Consensus Estimate of $1.84 per share. This compares to earnings of $2.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.87%. A quarter ago, it was expected that this freight transportation and logistics company would post earnings of $2.03 per share when it actually produced earnings of $1.98, delivering a surprise of -2.46%.Over the la ...

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 Third Quarter 2024 Results ● Continued focus on cost control initiatives to mitigate headwinds from challenging freight environment ● Productivity gains from technology, training, and network design ● Service improvements, including Mastio recognizing ABF for exceeding the industry benchmark on service FORT SMITH, Arkansa ...

Core Viewpoint - The market anticipates a year-over-year decline in ArcBest's earnings due to lower revenues, with a consensus EPS estimate of $1.84, reflecting a -20.4% change, and revenues expected at $1.07 billion, down 5.4% from the previous year [1][2]. Earnings Estimates - The consensus EPS estimate for ArcBest has been revised down by 11.97% over the last 30 days, indicating a reassessment by analysts [3]. - The Most Accurate Estimate for ArcBest matches the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [6]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a favorable Zacks Rank [4][5]. - ArcBest currently holds a Zacks Rank of 5 (Strong Sell), complicating predictions of an earnings beat [6]. Historical Performance - In the last reported quarter, ArcBest was expected to post earnings of $2.03 per share but delivered $1.98, resulting in a surprise of -2.46% [7]. - Over the past four quarters, ArcBest has beaten consensus EPS estimates twice [7]. Industry Comparison - In the Zacks Transportation - Truck industry, XPO is expected to post earnings of $0.89 per share, indicating a +1.1% year-over-year change, with revenues projected at $2.01 billion, up 1.4% [9]. - XPO's consensus EPS estimate has been revised down by 7.4% over the last 30 days, and it currently has an Earnings ESP of -0.87% combined with a Zacks Rank of 4 (Sell) [9].

DALLAS, Aug. 06, 2024 (GLOBE NEWSWIRE) -- TriumphPay announced today the addition of ArcBest® (Nasdaq: ARCB), a multibillion-dollar integrated logistics company offering one of the largest freight brokerages in North America, to TriumphPay as a full audit and payments network participant. ArcBest, a leader in the transportation and logistics industry, joins the network as part of its strategy to better serve carriers, improve operational efficiency and enhance payment security. This customer alliance builds ...

DALLAS, Aug. 06, 2024 (GLOBE NEWSWIRE) -- TriumphPay announced today the addition of ArcBest® (NASDAQ:ARCB), a multibillion-dollar integrated logistics company offering one of the largest freight brokerages in North America, to TriumphPay as a full audit and payments network participant. ArcBest, a leader in the transportation and logistics industry, joins the network as part of its strategy to better serve carriers, improve operational efficiency and enhance payment security. This customer alliance builds ...