ArcBest Corp

TFI not in M&A discussions with Arcbest, TFI chief says

TFI International Inc. Chairman, President and CEO Alain Bédard said Monday that the Montreal-based transport conglomerate has not discussed a merger or acquisition with the U.S.-based less-than-truckload carrier Arcbest Corp. (NASDAQ: ARCB), though Bédard said that TFI owns a small percentage of Arcbest shares and sees opportunities to collaborate operationally.

Bédard said the Arcbest holdings represent a strategic investment for TFI (NYSE: TFII). For example, as TFI purges some of the...

https://www.freightwaves.com/news/tfi-not-in-any-deep-discussions-with-arcbest-tfi-chief-says

What’s all the flak over FAK?

LTL costing and pricing have always been arcane exercises. Freight comes in all shapes and sizes. The mix of freight constantly changes. Rates have been determined by an 87-year-old system that assigns a numeric classification–from 50 to 500–to all LTL shipments. There are 18 product classifications to wade through. 

In an attempt to simplify matters, the LTL gods decades ago came up with a classification known as freight all kinds (FAK). An FAK rate was arrived at by calculating the weighted...

https://www.freightwaves.com/news/whats-all-the-flak-over-fak

ArcBest closes 2021 with another big quarter

ArcBest beats quarterly estimates again

ArcBest reported fourth-quarter adjusted earnings per share of $2.79 Tuesday before the market opened. The result was 52 cents ahead of consensus expectations and nearly three times higher than the year-ago level.

“2021 was a year of immense challenges — from the ongoing pandemic to extreme supply chain pressures — but our team stayed focused on our strategic initiatives and consistently exceeded expectations,” stated Judy McReynolds, chairman, president and CEO, in a press release. “We are...

https://www.freightwaves.com/news/arcbest-closes-2021-with-another-big-quarter

ArcBest sees billions of dollars in opportunities with MoLo acquisition

ArcBest executing on two fronts

ArcBest (NASDAQ: ARCB) took a big step toward bridging the gap to a long-term goal Wednesday with the acquisition of Chicago-based truckload broker MoLo Solutions. The deal advances a key initiative for the Fort Smith, Arkansas-based logistics and less-than-truckload provider — to grow its asset-light operations to a level equal to its asset-based trucking unit.

MoLo’s $600 million in expected revenue for 2021 pushes ArcBest’s consolidated annual top line to $4.1 billion, with asset-light...

https://www.freightwaves.com/news/arcbest-sees-billions-in-opportunities-from-molo-acquisition

ArcBest sees August tonnage dip in efforts to bolster LTL service

Carriers still working to purge non-LTL freight from networks

Transportation and logistics provider ArcBest Corp. provided an update on August’s trends on Wednesday. The company’s asset-based segment, which includes less-than-truckload, saw tonnage decline 4% year-over-year during August, a turnaround from the 5% increase recorded during July.

The year-ago period (+3.7%) benefited from an unseasonal lift in the company’s moving and storage segment as well as more spot market shipments. ArcBest (NASDAQ: ARCB) is in the process of lowering its exposure to...

https://www.freightwaves.com/news/arcbest-sees-august-tonnage-dip-in-efforts-to-bolster-ltl-service

ArcBest posts record revenue, operating income in Q2

ArcBest handily beats Q1 forecasts

LTL and asset-light provider ArcBest Corp. reported on Monday record quarterly revenue and operating income with second-quarter revenue of $949 million, 50% higher than second-quarter 2020 results, and operating income of $74.3 million, more than tripling the results in the quarter.

Net income of $53.1 million more than tripled the year-earlier results. Earnings per share of $1.97 per diluted share nearly tripled the 67 cents per diluted share posted in the second quarter of 2020. The EPS...

https://www.freightwaves.com/news/arcbest-posts-record-revenue-operating-income-in-q2