ArcBest

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

ArcBest announces leadership changes

ArcBest has named new commercial and strategic leaders. The changes, announced Thursday, are effective Feb. 1.

Eddie Sorg will become chief commercial officer at ArcBest (NASDAQ: ARCB). He is currently chief operating officer of the company’s asset-light unit, which includes freight brokerage. Sorg is credited with several profit-improving initiatives since joining the company 30 years ago, including space-based and dynamic pricing in the less-than-truckload segment. He will oversee sales,...

https://www.freightwaves.com/news/arcbest-announces-leadership-changes

A stand-alone FedEx Freight gives LTL investors another pure play

Investors are getting more optionality when it comes to playing the less-than-truckload market. FedEx Corp. said Thursday it will move forward with a plan to spin off FedEx Freight, the nation’s largest LTL carrier, which experts say could be worth as much as $30 billion.

Details surrounding the transaction were sparse, but FedEx (NYSE: FDX) said separating into two publicly listed companies – a domestic and international package and freight business generating $78 billion in annual revenue, and...

https://www.freightwaves.com/news/a-stand-alone-fedex-freight-gives-ltl-investors-another-pure-play

XPO, Old Dominion waiting for market turn

Less-than-truckload carriers are still seeing negative tonnage results at what is likely the bottom of the cycle. XPO and Old Dominion Freight Line are the latest to provide November results after updates from a pair of carriers sent shares for the group lower on Tuesday.

XPO eyeing Q4 margin improvement

XPO (NYSE: XPO) reported a 4% y/y decline in tonnage per day during November, which followed an 8% decline in October. October was up against a tough comp due to a cyberattack at Estes last year...

https://www.freightwaves.com/news/xpo-old-dominion-waiting-for-market-turn

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 carriers waiting for next demand catalyst in post-Yellow world

Less-than-truckload carriers are hoping an end to a two-year industrial recession will provide a needed volume uptick and bring about a more favorable freight mix. A positive inflection will also allow carriers to fill terminals acquired following Yellow Corp.’s exit.

Yellow’s (OTC: YELLQ) July 2023 shutdown put roughly 8% market share up for grabs, providing the industry with a respite to an ongoing freight recession. However, the newfound volume was quickly absorbed, and the industry is again...

https://www.freightwaves.com/news/ltl-carriers-waiting-for-next-demand-catalyst-in-post-yellow-world

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

ArcBest Q3 earnings: First look

Continued belt tightening wasn’t enough to offset a “challenging freight environment” during the third quarter, ArcBest said in a Friday news release.

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. Consolidated revenue of $1.06 billion was 5.8% lower y/y.

ArcBest’s asset-based segment, which includes results from its less-than-truckload subsidiary ABF Freight, reported revenue of $709.7...

https://www.freightwaves.com/news/arcbest-q3-earnings-first-look

LTL survey: Daylight Transport No. 1 overall, Old Dominion top national carrier

Daylight Transport was named the top overall less-than-truckload carrier in Mastio & Co.’s annual value and loyalty survey. Old Dominion Freight Line again received top honors among national carriers, a Tuesday report revealed.

The top 5 carriers in the overall group also included Averitt Express (No. 2), Old Dominion (No. 3), Peninsula (No. 4) and Dayton Freight Lines (No. 5). Averitt Express won the category last year and Peninsula was the winner in 2022.

Estes was ranked the No. 2 national...

https://www.freightwaves.com/news/ltl-survey-daylight-transport-no-1-overall-old-dominion-top-national-carrier

LTL carriers see softer volume trends in August

A pair of less-than-truckload carriers reported weaker volumes in August but said they continue to see favorable yield results.

XPO (NYSE: XPO) saw volumes slide during a “soft” August but reiterated its margin guidance, which is predicated on favorable yield trends.

The carrier reported a 4.6% year-over-year decline in tonnage during August, the combination of a 4.5% decline in shipments and a 0.1% dip in weight per shipment. It previously reported no change for the same volume metrics in July....

https://www.freightwaves.com/news/ltl-carriers-see-softer-volume-trends-in-august

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