ArcBest Corporation (NASDAQ:ARCB) Q4 2022 Earnings Conference Call February 3, 2023 9:30 AM ET Company Participants David Humphrey - Vice President, Investor Relations Judy McReynolds - Chairman, President, and Chief Executive Officer David Cobb - Chief Financial Officer Danny Loe - President of Asset-light Logistics, and Chief Yield Officer Dennis Anderson - Chief Customer Officer Conference Call Participants Chris Wetherbee - Citigroup Ravi Shanker - Morgan Stanley Jason Seidl - Cowen Jordan Alliger - Gol ...

Financial Performance - ArcBest Consolidated revenue for Q4 2022 was $12 billion, a 5% increase compared to Q4 2021[12] - ArcBest Consolidated revenue for the full year 2022 reached $53 billion, a 34% increase compared to 2021[12] - Non-GAAP Operating Income for ArcBest Consolidated in Q4 2022 was $827 million, a 19% decrease[12] - Non-GAAP Operating Income for the full year 2022 was $4729 million, a 49% increase[12] - Non-GAAP Net Income per diluted share for the full year 2022 was $1366, a 60% increase[12] - Asset-Based revenue for the full year 2022 was $30 billion, a 17% increase per day[13] - Asset-Light revenue for the full year 2022 was $25 billion, a 60% increase per day[16] Strategic Initiatives - Cross-sold accounts increased by 20% year-over-year[11] - 33% of accounts were cross-sold in FY 2022, compared to 17% in 2012[5] - Over 60% of asset-light customers also use ABF (Asset-Based) services[5, 24] Future Outlook - The company is focused on reaching $7 billion to $8 billion in revenue by 2025 in the asset-light segment[11]

ArcBest Corporation (NASDAQ:ARCB) Q3 2022 Earnings Conference Call November 1, 2022 9:30 AM ET Company Participants David Humphrey – Vice President-Investor Relations Judy McReynolds – Chairman, President and Chief Executive Officer David Cobb – Chief Financial Officer Danny Loe – President-Asset-light Logistics & Chief Yield Officer Dennis Anderson – Chief Customer Officer Conference Call Participants Chris Wetherbee – Citigroup Jordan Alliger – Goldman Sachs Jack Atkins – Stephens Incorporated Jason Seidl ...

Financial Performance - Q3 2022 - ArcBest consolidated revenue reached $1.4 billion[13] - Non-GAAP operating income was $131.1 million[13], a 33% year-over-year increase[13] - Non-GAAP net income was $3.80 per diluted share[15], a 43% year-over-year increase[15] - Asset-Based revenue was $791.5 million[16], a 29% year-over-year increase[16] - Asset-Light revenue was $604.5 million[18], a 61% year-over-year increase[18] Financial Position - Trailing twelve months EBITDA was $590 million[15] - The company had a liquidity of $541 million[15] - The company had a net cash of $48 million[15] Asset-Based Segment Metrics - Asset-Based segment achieved a Non-GAAP operating ratio of 85.3%[16], a 140 bps year-over-year improvement[16] - Total Billed Revenue per hundredweight increased 16% year-over-year[16] - Daily shipments increased 4.4% year-over-year[16] - Daily tonnage increased 11.1% year-over-year[16] Asset-Light Segment Metrics - Asset-Light segment Non-GAAP operating income was $19.9 million[18] - Asset-Light segment Adjusted EBITDA was $21.8 million[18], a 53% year-over-year increase[18] - October 2022 Daily Revenue for Asset-Light operations increased 40% year-over-year[18] Strategic Initiatives - The company is focused on reaching $7 billion to $8 billion in revenue by 2025[11] - Over 60% of asset-light customers also use asset-based services[5, 26]

ArcBest Corporation (NASDAQ:ARCB) Q2 2022 Earnings Conference Call July 29, 2022 9:30 AM ET Company Participants David Humphrey - Vice President, Investor Relations Judy McReynolds - Chairman, President & Chief Executive Officer David Cobb - Chief Financial Officer Dennis Anderson - Chief Customer Officer Danny Loe - President, Asset-light Logistics & Chief Yield Officer Conference Call Participants Chris Wetherbee - Citi Jack Atkins - Stephens Ken Hoexter - BOA Todd Fowler - KeyBanc Capital Markets Jordan ...

Financial Data and Key Metrics Changes - ArcBest achieved record revenues of $1.3 billion, a 60% increase year-over-year [16] - Non-GAAP consolidated operating income increased by 166% to $109 million [16] - Adjusted earnings per diluted share grew by 191% to $3.08 [16] Business Line Data and Key Metrics Changes - Asset-Based revenue for Q1 was $705 million, a 26% increase compared to the previous year [17] - Non-GAAP asset-based operating ratio improved by 570 basis points to 87.7% [17] - Asset-Light revenue increased by 115% year-over-year, with non-GAAP operating income up 163% [19] Market Data and Key Metrics Changes - Daily tonnage in the Asset-Based segment increased by 3.6% [17] - Total billed revenue per hundredweight increased by 21%, including higher fuel surcharges [17] - Preliminary April 2022 data showed strong trends in tonnage and shipments, reflecting some of the best year-over-year changes in 11 years [18] Company Strategy and Development Direction - The company continues to focus on a three-point strategy aimed at sustainable value creation, emphasizing investments in people, solutions, and technology [8][10] - The integration of MoLo is progressing well, enhancing customer relationships and operational capacity [13] - Partnerships, such as with Phantom Auto, align with long-term goals and innovation efforts [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic direction and growth prospects despite macroeconomic uncertainties [8] - The company is well-positioned to navigate market volatility due to its balanced mix and customer-led strategy [15] - Management highlighted the importance of ongoing investments in technology and employee development to sustain growth [10][12] Other Important Information - The company ended Q1 with $101 million in unrestricted cash and short-term investments, and total liquidity of $303 million [20] - A $100 million accelerated share repurchase was completed, with an additional $17 million purchased in Q1 [21] - The quarterly dividend was increased from $0.08 to $0.12 per share, reflecting confidence in sustainable cash flows [21][22] Q&A Session Summary Question: Volume environment on the LTL side - Management noted that customers are still experiencing labor shortages impacting supply chains, but demand remains strong [36] Question: Sustainability of pricing environment - Management acknowledged that while comps will become more challenging, they are focused on providing value to customers [38] Question: Integration of MoLo and its impact - The integration is progressing well, with improved access to capacity and better service for customers [50] Question: Wage and benefit inflation - Wage and health benefit increases are averaging about 2%, with potential for margin improvement due to pricing exceeding inflation [57][59] Question: Impact of inflation on trucking business - Management highlighted that fuel surcharges are a significant factor, and they are engaging customers in supply chain optimization discussions [78] Question: Technology initiatives for the year - The company is investing significantly in strategic technology initiatives, including city route optimization and dock scheduling [86]