• ITVI.USA
    16,448.360
    211.470
    1.3%
  • OTRI.USA
    28.320
    0.120
    0.4%
  • OTVI.USA
    16,407.820
    209.320
    1.3%
  • TLT.USA
    2.770
    0.040
    1.5%
  • TSTOPVRPM.ATLPHL
    2.630
    0.060
    2.3%
  • TSTOPVRPM.CHIATL
    3.080
    -0.090
    -2.8%
  • TSTOPVRPM.DALLAX
    1.180
    -0.060
    -4.8%
  • TSTOPVRPM.LAXDAL
    3.210
    -0.070
    -2.1%
  • TSTOPVRPM.PHLCHI
    1.630
    -0.090
    -5.2%
  • TSTOPVRPM.LAXSEA
    3.360
    0.070
    2.1%
  • WAIT.USA
    121.000
    1.000
    0.8%
  • ITVI.USA
    16,448.360
    211.470
    1.3%
  • OTRI.USA
    28.320
    0.120
    0.4%
  • OTVI.USA
    16,407.820
    209.320
    1.3%
  • TLT.USA
    2.770
    0.040
    1.5%
  • TSTOPVRPM.ATLPHL
    2.630
    0.060
    2.3%
  • TSTOPVRPM.CHIATL
    3.080
    -0.090
    -2.8%
  • TSTOPVRPM.DALLAX
    1.180
    -0.060
    -4.8%
  • TSTOPVRPM.LAXDAL
    3.210
    -0.070
    -2.1%
  • TSTOPVRPM.PHLCHI
    1.630
    -0.090
    -5.2%
  • TSTOPVRPM.LAXSEA
    3.360
    0.070
    2.1%
  • WAIT.USA
    121.000
    1.000
    0.8%
Company earningsLess than TruckloadLogisticsNewsTrucking

ArcBest Q3 results outpace expectations

Asset-based OR of 92.4%

ArcBest Corp (NASDAQ: ARCB) reported third-quarter adjusted earnings per share of $1.22, well ahead of the consensus estimates ranging from 79 cents to 82 cents per share.

The asset-based division, which includes less-than-truckload (LTL) operations, reported a 1% year-over-year increase in tonnage, with LTL tonnage increasing in the mid-single-digit range while spot truckload (TL) tonnage fell by double digits.

LINK TO FULL ARTICLEArcBest seeing tonnage accelerate in October

Revenue per hundredweight, or yield, declined 2% year-over-year. LTL yield was down in the low single digits due to a 7% increase in weight per shipment.

The asset-based division’s operating ratio (OR) improved 80 basis points to 92.4%. “ArcBest’s asset-based business reflects the positive impact of an improving marketplace and sequential growth in shipments and tonnage compared to the second quarter,” the press release stated.

The asset-light division reported a 6% year-over-year increase in revenue with an 80 basis point improvement in OR to 97.8%. The division saw increases in managed transportation, international and ground expedite services during the quarter.

“Throughout the third quarter and into October the ArcBest team, enabled by technology and assured capacity options, is providing much-needed flexibility to customer supply chains while also improving operational efficiency. Our company was built on strong customer relationships and it is our goal to ensure those customers are positioned well to succeed,” said Chairman, President and CEO Judy McReynolds.

The company will host a call at 9:30 a.m. EST with analysts to discuss these results. Stayed tuned to FreightWaves for more earnings coverage of ArcBest.

ArcBest’s key performance indicators

Click for more FreightWaves articles by Todd Maiden.

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Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.

One Comment

  1. Maybe ABF can recall the rest of their employees who are on lay-off? While they are at it they can reinstate their clerks who have had an entire day of work taken away…

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