FORT SMITH, Ark.--(BUSINESS WIRE)--ArcBest® (Nasdaq: ARCB), an integrated logistics company, today announced the next step in its first-of-its-kind Vaux suite: Vaux Smart Autonomy. The offering combines autonomous mobile robot (AMR) forklifts and reach trucks, intelligent software and remote teleoperation capabilities to autonomously handle materials movement within warehouses, distribution centers and manufacturing facilities — all while keeping humans in the loop. Vaux Smart Autonomy is the only autonomou ...

Trucking company ArcBest (ARCB 8.45%) managed to navigate past speedbumps, including demand questions and market disruptions, and still deliver earnings that were above expectations. Investors were excited, sending shares of ArcBest up as much as 12.4% for the day and up 8.5% as of 12:30 Eastern Tuesday.A focus on costs drives an earnings beatArcBest earned $2.47 per share in its fourth quarter on revenue of $1.1 billion, surpassing Wall Street expectations for $2.21 per share in earnings on sales of $1.09 ...

Financial Data and Key Metrics Changes - In Q4 2023, the company generated $1.1 billion in revenue, down 6% year-over-year, primarily due to lower revenue in the Asset Light segment [12] - Full year 2023 revenue was $4.4 billion, down from record levels in 2022, with non-GAAP operating income at $258 million and adjusted earnings per share at $7.88, both down from the prior year [12][18] - Non-GAAP operating income for Q4 was $81.7 million, comparable to the same period last year, with adjusted earnings per share slightly increasing to $2.47 from $2.42 [12][18] Business Line Data and Key Metrics Changes - Asset-Based revenue in Q4 was $710 million, consistent with the same quarter last year, with an improved non-GAAP operating ratio of 87.7%, a 90 basis point improvement year-over-year [13][14] - In the Asset Light segment, Q4 revenue was $413 million, down 14% year-over-year, while shipments per day increased by 12% [17] - For the full year 2023, Asset Light revenue was $1.7 billion, down 21% from 2022, with a non-GAAP operating income of $5 million [17] Market Data and Key Metrics Changes - Preliminary January 2024 results indicated a decline in total shipments and tonnage from 2023 levels due to lower transactional shipments [15][18] - The company experienced about 130 service center closures in January due to extreme winter weather, significantly higher than the 10-year average of 57 closures [27] Company Strategy and Development Direction - The company is focused on investing in technology and operational excellence while navigating a slower freight market [7][24] - A five-year labor agreement was finalized, and the company is expanding its asset-based capacity through service center facility plans [8][9] - The company aims to enhance its integrated logistics solutions and is evaluating additional real estate investment opportunities [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market challenges and emphasized a focus on long-term growth and profitability [23][24] - The company is optimistic about its core business growth and has implemented cost controls to manage expenses effectively [32][33] - Management highlighted the importance of customer feedback and the launch of new digital tools to improve service visibility [25][71] Other Important Information - The company returned over $100 million to shareholders through dividends and share repurchases in 2023 [9][22] - The company plans to increase net capital expenditures in 2024 to between $325 million and $375 million, including investments in revenue equipment and real estate [20] Q&A Session Summary Question: Impact of January trends and weather - Management noted that January's weather was more extreme than usual, with 130 service center closures compared to a 10-year average of 57 [27] Question: Seasonal trends and operating ratio - Management discussed the typical seasonal increase in operating ratio from Q4 to Q1 and highlighted the impact of market disruptions and cost controls [30][32] Question: Capital expenditures and competitive risks - Management emphasized a purposeful capital expenditure plan and the strategic acquisition of facilities to enhance efficiency and growth opportunities [38][39] Question: Core vs. transactional business mix - Management indicated a focus on optimizing the mix between core and transactional business, with a preference for core business growth [64][69] Question: Service levels and customer perception - Management acknowledged the need for improvement in service perception and highlighted ongoing efforts to enhance communication and service quality [70][71]

For the quarter ended December 2023, ArcBest (ARCB) reported revenue of $1.09 billion, down 12.4% over the same period last year. EPS came in at $2.47, compared to $2.45 in the year-ago quarter.The reported revenue represents a surprise of +0.80% over the Zacks Consensus Estimate of $1.08 billion. With the consensus EPS estimate being $2.19, the EPS surprise was +12.79%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street exp ...

ArcBest (ARCB) came out with quarterly earnings of $2.47 per share, beating the Zacks Consensus Estimate of $2.19 per share. This compares to earnings of $2.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.79%. A quarter ago, it was expected that this freight transportation and logistics company would post earnings of $1.55 per share when it actually produced earnings of $2.31, delivering a surprise of 49.03%.Over the las ...

FORT SMITH, Ark.--(BUSINESS WIRE)--The Board of Directors of ArcBest® (Nasdaq: ARCB) has declared a quarterly cash dividend of twelve cents ($0.12) per share to holders of record of its Common Stock, $0.01 par value, on February 16, 2024, payable on March 1, 2024. ABOUT ARCBEST ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 15,000 employees across 250 campuses and service centers, the company is a l ...

Wall Street expects a year-over-year decline in earnings on lower revenues when ArcBest (ARCB) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 6, 2024, might help the stock move higher if these key numbers are better than expect ...

FORT SMITH, Ark.--(BUSINESS WIRE)--ArcBest® (Nasdaq: ARCB) will announce its fourth quarter 2023 financial results before the market opens on Tuesday, February 6, 2024. A conference call with company executives will be held that day at 9:30 a.m. EST (8:30 a.m. CST) to discuss these results. Interested parties are invited to listen by calling (800) 599-2055. The conference ID for the call is 6835093. Following the call, a recorded playback will be available through the end of the day on March 15, 2024. To l ...

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 September 30, 2023 ☐ 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 o ...

ArcBest Corporation (NASDAQ:ARCB) Q3 2023 Results Conference Call October 27, 2023 9:00 AM ET Company Participants David Humphrey - VP, IR Judy McReynolds - Chairman, President & CEO Matt Beasley - CFO and Treasurer Seth Runser - President of ABF Freight Steven Leonard - Chief Commercial Officer & President of Asset-Light Logistics Dennis Anderson - Chief Strategy Officer Christopher Adkins - VP, Yield Strategy and Management Conference Call Participants Ravi Shankar - Morgan Stanley Jason Seidl - TD Ken Ho ...