MoLo Solutions

An ode to Chicago and its freight hustlers

Chicago has always been about hustling or selling something. Jean-Baptiste-Point Du Sable, after being arrested by the British during the American Revolution, became the first non-native person to settle in what would become the Chicago area in the late 1780s. A successful trader, he sold out in 1800, took the money, and retired to St. Charles, Missouri. Had Du Sable been around today, he might have started a freight brokerage instead, or at the least, he might have been an early employee of...

https://www.freightwaves.com/news/an-ode-to-chicago-and-its-freight-hustlers

ArcBest despide por sorpresa a sus dos principales directivos

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En un movimiento sorpresivo, la firma de transporte ArcBest Corp. anunció el miércoles una...

https://www.freightwaves.com/news/arcbest-despide-por-sorpresa-a-sus-dos-principales-directivos

ArcBest fires top 2 truckload brokerage execs in surprise move

In a surprise move, transportation firm ArcBest Corp. announced on Wednesday a reorganization that included the abrupt departures of the founder and CEO of MoLo Solutions Inc., a 6-year-old truckload brokerage business that ArcBest acquired in November 2021 for an upfront $235 million cash payment and an earn-out figure that could have pushed the total to $450 million had MoLo met specific performance criteria between 2023 and 2025.

Fort Smith, Arkansas-based ArcBest (NASDAQ: ARCB) announced...

https://www.freightwaves.com/news/arcbest-fires-top-2-truckload-brokerage-execs-in-surprise-move

ArcBest raises long-term financial targets, expects revenue to double by 2025

ArcBest sees $7 billion to $8 billion in revenue by 2025

ArcBest updated long-term financial targets Tuesday in conjunction with the release of its fourth-quarter earnings report. The company expects to grow revenue to $7 billion to $8 billion by 2025. Hitting the high end of the range would double its top line from the $3.98 billion it recorded in 2021.

The guidance also included margin targets. The asset-based segment, which includes less-than-truckload operations, is expected to see operating margins in the 10% to 15% range, which is higher than...

https://www.freightwaves.com/news/arcbest-raises-long-term-financial-targets

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

Las operaciones más transformadoras de 2021 en el sector del transporte por carretera

Some carriers made noncore additions to the lineup in 2021

El flujo de transacciones fue intenso en la industria del transporte por carretera durante 2021. La mayoría de los actores en el espacio han visto múltiples trimestres de ganancias y flujos de efectivo récord. Ya sea buscando un lugar para poner el nuevo efectivo a trabajar, la adición de los conductores y el equipo en un mercado de capacidad limitada o atornillar en un nuevo modo de la oferta de transporte, muchos transportistas estaban investigando activamente ofertas y la compra de activos.

He...

https://www.freightwaves.com/news/las-operaciones-mas-transformadoras-de-2021-en-el-sector-del-transporte-por-carretera

2021’s most transformational deals in trucking

Some carriers made noncore additions to the lineup in 2021

Deal flow was heavy in the trucking industry during 2021. Most players in the space have seen multiple quarters of record earnings and cash flows. Whether it was looking for a place to put newfound cash to work, adding drivers and equipment in a capacity-constrained market or bolting on a new mode to the transportation offering, many carriers were actively vetting deals and buying assets.

Here’s a recap of a few of the most transformational deals in trucking during 2021.

Knight-Swift goes all in...

https://www.freightwaves.com/news/2021s-most-transformational-deals-in-trucking

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

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