ABF Freight

ArcBest says LTL pricing not under attack

Less-than-truckload transportation provider ArcBest pushed back on concerns that an extended industrial downturn and the redeployment of bankrupt Yellow Corp.’s terminals has created too much capacity, which is pressuring yields.

Management from the company described the market as “very rational” on a Tuesday call with equity analysts.

“When we look at the opportunities that we have, nothing has changed,” said ArcBest Chairman and CEO Judy McReynolds on the call. She said the company is still...

https://www.freightwaves.com/news/arcbest-says-ltl-pricing-not-under-attack

First look: ArcBest reports tough Q1

Transportation and logistics provider ArcBest reported a modest earnings miss for the first quarter on Tuesday before the market opened.

ArcBest (NASDAQ: ARCB) reported adjusted earnings per share of 51 cents, 1 cent light of the consensus estimate but 83 cents lower year over year. The consensus EPS number came down 30 cents in the 90 days leading up to the Tuesday report as analysts cut forecasts due to soft demand trends in March.

The adjusted result excluded 38 cents in one-offs like costs...

https://www.freightwaves.com/news/first-look-arcbest-reports-tough-q1

ArcBest takes on TL freight to fill empty capacity

Transportation and logistics provider ArcBest reported less severe volume declines in its asset-based operations during February as it took on more truckload freight to buoy throughput at its terminals.

Fort Smith, Arkansas-based ArcBest (NASDAQ: ARCB) announced Monday after the market closed that tonnage in the asset-based unit, which includes results from less-than-truckload subsidiary ABF Freight, was down just 2% year over year in February following a 9.2% decline in January. The February...

https://www.freightwaves.com/news/arcbest-takes-on-tl-freight-to-fill-empty-capacity

ABF Freight latest LTL carrier to nab Yellow terminals

Less-than-truckload carrier ABF Freight and parent ArcBest Corp. have entered private purchase agreements to acquire two leased properties totaling $11.5 million from defunct Yellow Corp.’s estate, according to a Wednesday filing in a federal bankruptcy court in Delaware.

ArcBest (NASDAQ: ARCB) is acquiring a 108-door terminal on 32.5 acres near Denver for $7 million and a 60-door service center on 12.6 acres near Seattle for $4.5 million.

The company picked up four of Yellow’s terminals valued...

https://www.freightwaves.com/news/abf-freight-latest-ltl-carrier-to-nab-yellow-terminals

ArcBest, LTL industry short on volume

Financial results across the less-than-truckload industry remain constrained as the industrial economy enters the third year of a downturn. ArcBest has been working to improve profitability by revamping its freight mix and focusing on efficiency and cost-cutting initiatives, but at some point, it needs more volume to bear fruit.

The Fort Smith, Arkansas-based transportation and logistics provider reported fourth-quarter adjusted earnings per share of $1.33 on Friday, 28 cents better than the...

https://www.freightwaves.com/news/arcbest-ltl-industry-short-on-volume

First look: ArcBest Q4 earnings

Transportation and logistics provider ArcBest (NASDAQ: ARCB) reported fourth-quarter adjusted earnings per share of $1.33 on Friday, 28 cents better than the consensus estimate but $1.14 lower year over year.

The adjusted result excluded 9 cents per share in items considered one-offs, like expenses tied to past acquisitions, costs from technology pilot programs, equipment and software write-downs, and a reduction in the expected earnout at truck broker MoLo, which was acquired three years ago.

“Th...

https://www.freightwaves.com/news/first-look-arcbest-q4-earnings

LTL stocks sag on Q4 updates

Shares of less-than-truckload carriers were lower Tuesday after two companies provided fourth-quarter updates. The updates likely reflect the bottom of the cycle, the point where carriers are in need of more volume, or an improved freight mix, moving through their high fixed-cost networks.

ArcBest (NASDAQ: ARCB) was down 1.6% at 11:19 a.m. EST while shares of Saia (NASDAQ: SAIA) were down 2.7%. The S&P 500 was down just 0.1% at the time.

ArcBest’s network needs more freight

ArcBest’s asset-based...

https://www.freightwaves.com/news/ltl-stocks-sag-on-q4-updates

LTL general rate increases buck pricing concerns for industry

Less-than-truckload carrier Old Dominion Freight Line announced Monday a 4.9% general rate increase across multiple tariff codes effective Dec. 2. The GRI announcement follows similar price actions from other carriers in recent weeks, tamping down concerns that the industry is losing its ability to pass through rate increases two years into an industrial recession.

Carriers typically implement GRIs to general tariff codes annually. The stated percentage increase is an expected average of changes...

https://www.freightwaves.com/news/ltl-general-rate-increases-buck-pricing-concerns-for-industry

LTL, brokerage woes weigh on ArcBest’s Q3

Weak demand coupled with cost pressure weighed on ArcBest’s third quarter. The company has mitigated some of the earnings pressure through internal initiatives in recent quarters but really needs a more cooperative freight market to push numbers higher.

ArcBest (NASDAQ: ARCB) reported third-quarter adjusted earnings per share of $1.64, 21 cents below the consensus estimate and 67 cents lower year over year.

The adjusted EPS result excluded expenses tied to past acquisitions and ongoing technology...

https://www.freightwaves.com/news/ltl-brokerage-woes-weigh-on-arcbests-q3

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