ArcBest acquires MoLo

ArcBest sees improvement beyond record Q3 performance

ArcBest's network investments paying off in 2021

Management from ArcBest isn’t shying away from the prospect of its asset-based unit, which includes less-than-truckload operations, achieving a mid-80% operating ratio. On a Tuesday call with analysts, company officials said the potential for further margin improvement stems from capacity investments it is making in its fleet, terminals and people, as well as several years of yield improvement on its customer book.

ArcBest (NASDAQ: ARCB) reported third-quarter adjusted earnings per share of...

https://www.freightwaves.com/news/arcbest-sees-improvement-beyond-record-q3-performance

ArcBest cruises past expectations in 3rd quarter

ArcBest achieves record results again in third quarter

ArcBest reported record quarterly results Tuesday before the market opened with each of its segments posting double-digit revenue growth. Adjusted earnings per share of $2.59 beat analysts’ expectations by 14 cents and were more than double the year-ago quarter.

ArcBest (NASDAQ: ARCB) reached more than $1 billion in consolidated revenue in the quarter with its asset-based segment, which includes less-than-truckload operations, recording 21.2% year-over-year growth at $681 million.

Daily tonnage...

https://www.freightwaves.com/news/arcbest-cruises-past-expectation-in-3rd-quarter

Done deal: ArcBest closes on MoLo; $235 million initial price tag

ArcBest will now have 70,000 carriers on its platform

ArcBest announced Monday that it closed on the acquisition of Chicago-based truckload brokerage MoLo Solutions. The acquisition price included a $235 million upfront cash payment plus the potential for future earnout payments that could exceed the initial amount.

At $600 million in projected 2021 revenue, the MoLo deal advances ArcBest’s (NASDAQ: ARCB) goal to increase its asset-light operations to a level that is on par with its asset-based trucking unit. The deal will increase ArcBest’s...

https://www.freightwaves.com/news/done-deal-arcbest-closes-on-molo-235-million-initial-price-tag