Financial Performance - Fourth quarter 2024 revenue was $1.0 billion, a decrease of 9.1% from $1.1 billion in the same quarter of 2023[2] - Net income for the fourth quarter 2024 was $29.0 million, or $1.24 per diluted share, down from $48.8 million, or $2.01 per diluted share in the prior year[2] - Full year 2024 revenue totaled $4.2 billion, a decline of 4.5% compared to $4.4 billion in 2023[3] - Full year net income from continuing operations was $173.4 million, or $7.28 per diluted share, compared to $142.2 million, or $5.77 per diluted share in 2023[3] - Revenues for Q4 2024 were $1,001,645, a decrease of 8.1% from $1,089,535 in Q4 2023[22] - Operating income for Q4 2024 was $38,161, down 40.7% from $64,253 in Q4 2023[22] - The year ended December 31, 2024, saw total consolidated revenues of $4,179,019, a decrease of 5.6% from $4,427,443 in 2023[26] - The consolidated Adjusted EBITDA from continuing operations for the year ended December 31, 2024, was $328,599 thousand, down from $369,566 thousand in 2023[38] Asset Performance - The Asset-Based segment experienced a 6.3% decrease in weight per shipment and a 1.1% decrease in daily shipments in Q4 2024[5] - Asset-Light revenues decreased due to lower revenue per shipment and a 2.1% decline in shipments per day compared to Q4 2023[9] - Asset-Based revenues decreased to $656,220 in Q4 2024 from $709,986 in Q4 2023, while Asset-Light revenues fell to $375,432 from $413,425 in the same period[26] - Operating income from continuing operations for Q4 2024 was $38,161, down 40.7% from $64,253 in Q4 2023[33] - The operating income for the Asset-Based Segment on a GAAP basis was $52,335 thousand with an operating ratio of 92.0% for the three months ended December 31, 2024[34] - The Asset-Light Segment reported an operating loss of $1,579 thousand with an operating ratio of 100.4% for the same period[34] Capital Expenditures and Investments - Total net capital expenditures in 2024 were $288 million, including $160 million for revenue equipment[13] - The company incurred $223,103 in capital expenditures for property, plant, and equipment in 2024, compared to $219,021 in 2023[25] - The company plans to continue opportunistic share repurchases while prioritizing organic capital investments[14] Shareholder Returns - ArcBest returned over $85 million to shareholders in 2024 through share repurchases and dividends[14] Assets and Liabilities - Total current assets decreased to $675,642 in 2024 from $884,783 in 2023, a decline of 23.6%[24] - Total liabilities decreased to $1,115,369 in 2024 from $1,174,000 in 2023, a reduction of 5%[24] - Cash and cash equivalents at the end of 2024 were $127,444, down 51.4% from $262,226 at the end of 2023[25] - Net cash provided by operating activities for 2024 was $285,846, a decrease of 11.2% from $322,167 in 2023[25] - The company reported a net increase in cash and cash equivalents of $(134,782) for 2024, contrasting with an increase of $103,854 in 2023[25] Operating Expenses - Operating expenses from continuing operations totaled $963,484 in Q4 2024, a decrease of 6.0% compared to $1,025,282 in Q4 2023[26] - Total operating expenses for the year ended December 31, 2024, were $3,934,585, a decrease of 7.5% from $4,254,824 in 2023[26] Tax and Legal Matters - The effective tax rate for continuing operations was 22.5% for the three months ended December 31, 2024, compared to 28.0% in the same period of 2023[36] - Legal settlements recorded for the three months ended December 31, 2024, were $274 thousand, down from $9,500 thousand in the same period of 2023[36] Other Financial Metrics - The change in fair value of contingent consideration for the MoLo acquisition was a loss of $9,510 in Q4 2024, compared to a loss of $6,300 in Q4 2023[33] - The change in fair value of contingent consideration for the year ended December 31, 2024, was $(90,250) thousand, significantly impacting the overall income[36] - The total depreciation and amortization for the year ended December 31, 2024, was $149,087 thousand, slightly increasing from $145,349 thousand in 2023[38] - The Asset impairment charges for the year ended December 31, 2024, were $1,700 thousand, a significant decrease from $30,162 thousand in 2023[38] Operational Efficiency - Billed revenue per hundredweight (CWT) increased by 0.6% to $49.27 in Q4 2024, while for the year it rose by 11.7% to $49.68[42] - Tonnage per day decreased by 7.3% to 10,758 in Q4 2024, and for the year it fell by 14.3% to 10,968[42] - Revenue per shipment in the Asset-Light segment decreased by 7.2% in Q4 2024 and by 12.8% for the year[43] - Shipments per employee per day increased by 20.8% in Q4 2024 and by 24.2% for the year in the Asset-Light segment[43] - The average length of haul increased by 3.5% to 1,116 miles in Q4 2024, and by 3.1% for the year to 1,126 miles[42]

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 | | | --- ...

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 ...

Financial Data and Key Metrics Changes - ArcBest reported second quarter revenue of $1.1 billion, a slight 2% decrease compared to the previous year. However, non-GAAP operating income from continuing operations rose by 28% to $64 million [18] - Adjusted earnings per share increased to $1.98, up from $1.54 in the second quarter of 2023 [18] - The Asset-Based business saw a $21 million increase in non-GAAP operating income compared to the same period last year, despite lower revenue [18] Business Line Data and Key Metrics Changes - The Asset-Based segment's second quarter revenue was $713 million, a per day decrease of 2%. The non-GAAP operating ratio improved by 300 basis points to 89.8% compared to the second quarter of last year [19] - Tonnage per day decreased by 20%, while daily shipments were 5% below prior year levels. However, core LTL shipments grew by 14% year-over-year [20] - The Asset-Light segment reported second quarter revenue of $396 million, a daily decrease of approximately 4% year-over-year, with shipments per day increasing by 13% [25] Market Data and Key Metrics Changes - The sales pipeline increased by nearly 40% since January, indicating growing demand for services [8] - Despite a softer market environment, the company maintained solid customer retention, with over 80% of revenues coming from long-term customers [8] - The company anticipates that daily tonnage levels for the third quarter of 2024 will be below the prior year due to shifts in core business and competition [23] Company Strategy and Development Direction - ArcBest's strategy focuses on growth, efficiency, and innovation, with significant investments in technology and operational improvements [7][12] - The company is enhancing its service capabilities through facility expansions and technology projects, such as AI-driven route optimization [15] - The management emphasizes the importance of maintaining a strong customer value proposition and adapting to market conditions [12][80] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current economic challenges, citing a strong sales pipeline and improved operational metrics [37] - The company is well-positioned to succeed in any environment, with a focus on cost efficiencies for customers [37] - Management noted that while the economy is soft, they are optimistic about future growth opportunities as they continue to enhance service levels and operational efficiency [80] Other Important Information - ArcBest returned $37 million to shareholders through share buybacks and dividends in the first half of 2024, maintaining a strong financial position with a $57 million net cash position [28] - The company has been recognized for its sustainability efforts and workplace culture, receiving accolades from various organizations [29] Q&A Session Summary Question: What is the outlook for tonnage in Q3 excluding project business? - Management acknowledged that the tonnage decline is partly due to project business but also attributed it to customers shifting to lower-cost providers [32] Question: How is the company positioned regarding potential recession impacts? - Management indicated that they are well-positioned to navigate economic challenges, with a strong sales pipeline and focus on cost efficiencies [37] Question: What are the pricing trends and expectations for the back half of the year? - Management confirmed disciplined pricing strategies, achieving a 5.1% increase in customer contract renewals, and expects continued pricing improvements [42][43] Question: How does the company view the overall freight market and competition? - Management noted that while competition has increased, they believe their service improvements and strategic investments will help maintain their market position [52][56] Question: What is the current mix of spot versus contract business in the Asset-Light segment? - The current mix is approximately 60% contract versus 40% spot in the truckload business, with ongoing improvements in productivity [64]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company's H1 2024 financial statements show decreased assets and equity, mixed revenue, improved operating income, and increased cash flow from operations [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets decreased slightly to **$2.41 billion**, with liabilities and stockholders' equity also seeing minor reductions Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2024 (Unaudited) | December 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $767,213 | $884,783 | | **Total Assets** | $2,408,529 | $2,485,094 | | **Total Current Liabilities** | $645,850 | $701,563 | | **Total Liabilities** | $1,177,011 | $1,242,731 | | **Total Stockholders' Equity** | $1,231,538 | $1,242,363 | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Q2 2024 revenues slightly decreased, but operating and net income from continuing operations increased, while H1 2024 saw a larger revenue decline and reduced net income Q2 Financial Performance (in thousands, except per share data) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $1,077,831 | $1,103,464 | -2.3% | | Operating Income | $48,845 | $42,116 | +16.0% | | Net Income (Continuing Ops) | $46,924 | $39,600 | +18.5% | | Diluted EPS (Continuing Ops) | $1.96 | $1.60 | +22.5% | Six-Month Financial Performance (in thousands, except per share data) | Metric | H1 2024 | H1 2023 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $2,114,250 | $2,209,558 | -4.3% | | Operating Income | $71,280 | $63,275 | +12.6% | | Net Income (Continuing Ops) | $44,012 | $58,447 | -24.7% | | Diluted EPS (Continuing Ops) | $1.83 | $2.35 | -22.1% | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly increased to **$140.2 million** in H1 2024, while investing activities shifted to a net use, and financing activities remained a net use Six-Month Cash Flow Summary (in thousands) | Cash Flow Activity | H1 2024 | H1 2023 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $140,202 | $103,757 | | **Net Cash from Investing Activities** | $(87,079) | $30,456 | | **Net Cash from Financing Activities** | $(99,759) | $(105,299) | | **Net (Decrease) Increase in Cash** | $(46,636) | $28,914 | [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail business segments, accounting policies, the **FleetNet** sale, a **$28.7 million** Phantom Auto impairment, a **1.2%** effective tax rate, and ongoing legal matters - The company operates through two reportable segments: Asset-Based (ABF Freight), which accounted for **~64% of revenues** in H1 2024, and Asset-Light (MoLo, Panther)[22](index=22&type=chunk)[23](index=23&type=chunk) - The sale of FleetNet America, Inc. on February 28, 2023, for **$100.9 million** is accounted for as discontinued operations, with its historical results excluded from continuing operations[24](index=24&type=chunk)[45](index=45&type=chunk) - In Q1 2024, the company recorded a pre-tax, noncash impairment charge of **$28.7 million** to write off its equity investment in Phantom Auto, which ceased operations[43](index=43&type=chunk) - The effective tax rate from continuing operations for the six months ended June 30, 2024, was **1.2%**, significantly lower than **19.1%** in the prior year, primarily due to tax benefits from the vesting of restricted stock units (RSUs)[51](index=51&type=chunk) - The company is a defendant in a lawsuit related to an auto accident involving a MoLo contract carrier that occurred prior to the acquisition. While the company was released, MoLo remains a defendant, and a loss is considered reasonably possible[107](index=107&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses H1 2024's **4.3%** revenue decline, improved consolidated operating income, segment-specific performance, and future capital expenditure and share repurchase plans [Results of Operations](index=37&type=section&id=Results%20of%20Operations) H1 2024 consolidated revenues decreased **4.3%**, with Asset-Based operating income improving due to strategic shifts, while Asset-Light incurred a significant operating loss Segment Revenue Performance - H1 2024 vs H1 2023 (in thousands) | Segment | H1 2024 | H1 2023 | % Change | | :--- | :--- | :--- | :--- | | Asset-Based | $1,384,192 | $1,419,832 | -2.5% | | Asset-Light | $792,180 | $847,908 | -6.6% | | **Total Consolidated** | **$2,114,250** | **$2,209,558** | **-4.3%** | Segment Operating Income (Loss) - H1 2024 vs H1 2023 (in thousands) | Segment | H1 2024 | H1 2023 | Change | | :--- | :--- | :--- | :--- | | Asset-Based | $126,248 | $90,796 | +$35,452 | | Asset-Light | $(24,756) | $(911) | -$23,845 | | **Total Consolidated** | **$71,280** | **$63,275** | **+$7,005** | - Asset-Based tonnage per day decreased **18.6%** in H1 2024, but this was offset by a **19.4%** increase in billed revenue per hundredweight, driven by a strategic focus on higher-priced core LTL business[125](index=125&type=chunk)[156](index=156&type=chunk)[158](index=158&type=chunk) - Asset-Light shipments per day increased **13.1%** in H1 2024, but revenue per shipment fell **17.4%** due to soft market conditions and changes in business mix[128](index=128&type=chunk)[179](index=179&type=chunk) - The remeasurement of contingent earnout consideration for the MoLo acquisition decreased consolidated operating results by **$11.2 million** in H1 2024, compared to a **$5.0 million** decrease in H1 2023[131](index=131&type=chunk) [Liquidity and Capital Resources](index=65&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with **$260.5 million** in cash, projects **$325-$375 million** in 2024 capital expenditures, and continues its share repurchase program - Total cash, cash equivalents, and short-term investments stood at **$260.5 million** as of June 30, 2024, down from **$330.1 million** at year-end 2023[215](index=215&type=chunk)[217](index=217&type=chunk) - Estimated net capital expenditures for 2024 are projected to be between **$325.0 million** and **$375.0 million**, including **$155.0 million** for revenue equipment and **$130.0 million** for real estate and facility upgrades[225](index=225&type=chunk)[228](index=228&type=chunk) - In H1 2024, the company repurchased **251,668 shares** for **$31.6 million**. As of June 30, 2024, **$99.4 million** remained available under the share repurchase program[220](index=220&type=chunk)[232](index=232&type=chunk) - The fair value of the contingent earnout consideration for the MoLo acquisition is estimated at **$104.1 million** as of June 30, 2024[230](index=230&type=chunk) [Current Economic Conditions](index=57&type=section&id=Current%20Economic%20Conditions) The company operates in a challenging economic environment with a contracting manufacturing sector, soft freight market, and potential for Asset-Light segment goodwill impairment - The manufacturing sector, measured by the PMI, has been in contraction for **19 of the last 20 months**, contributing to declining freight volumes[188](index=188&type=chunk) - The soft freight environment has resulted in a year-over-year decline in market pricing for many Asset-Light services[191](index=191&type=chunk) - Management warns that significant declines in business levels could result in a noncash write-off of a significant portion of the goodwill and intangible assets of the Asset-Light segment[191](index=191&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=78&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuations on variable-rate debt, partially mitigated by an interest rate swap agreement, with no significant changes since year-end 2023 - The company's main market risk is from interest rate fluctuations on its variable-rate debt, including its revolving credit facility and accounts receivable securitization program[260](index=260&type=chunk) - An interest rate swap agreement is in place to mitigate a portion of the interest rate risk on the revolving credit facility[260](index=260&type=chunk) [Item 4. Controls and Procedures](index=78&type=section&id=Item%204.%20Controls%20and%20Procedures) The company's disclosure controls and procedures were effective as of June 30, 2024, with no material changes to internal controls over financial reporting during Q2 2024 - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2024[262](index=262&type=chunk) - No material changes to internal controls over financial reporting occurred during the most recent fiscal quarter[263](index=263&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=79&type=section&id=Item%201.%20Legal%20Proceedings) Details on the company's legal proceedings, including a MoLo subsidiary lawsuit and a Fair Labor Standards Act settlement, are provided in Note K - Details on legal proceedings are cross-referenced to Note K in Part I, Item 1 of the report[265](index=265&type=chunk) [Item 1A. Risk Factors](index=79&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors have occurred since the filing of its 2023 Annual Report on Form 10-K - No material changes to the company's risk factors have occurred since the 2023 Annual Report on Form 10-K was filed[266](index=266&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=79&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **130,987 shares** for **$16.0 million** in Q2 2024, with **$99.4 million** remaining under the authorized repurchase program Issuer Purchases of Equity Securities (Q2 2024) | Period | Total Shares Purchased | Average Price Paid per Share | Approx. Dollar Value Remaining in Program | | :--- | :--- | :--- | :--- | | April 2024 | 36,547 | $142.16 | $110,152,000 | | May 2024 | 94,440 | $114.14 | $99,372,000 | | June 2024 | 0 | N/A | $99,372,000 | | **Total Q2** | **130,987** | **$121.96** | **$99,372,000** | - In February 2024, the Board reauthorized the share repurchase program and increased the total amount available to **$125.0 million**[267](index=267&type=chunk)

Exhibit 99.1 Investor Relations Contact: Amy Mendenhall Media Contact: Autumnn Mahar Title: Vice President – Treasury & Investor Relations Phone: 479-785-6200 Title: Director External Communications and Public Relations Email: invrel@arcb.com Phone: 479-494-8221 Email: amahar@arcb.com ArcBest Announces Second Quarter 2024 Results Strong gains in productivity and service metrics ● Delivered second quarter 2024 net income of $46.9 million, or $1.96 per diluted share, and nonGAAP net income of $47.4 million, o ...

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]