ArcBest Corp

NASDAQ:ARCBUnited States

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• -- Earnings Flash (ARCB) ARCBEST Reports Q1 Revenue $1.04B, vs. Street Est of $1.04B, from 3 hours ago by MT Newswires

  3 hours ago by MT Newswires
  Companies Mentioned: ARCB
  06:03 AM EDT, 04/30/2024 (MT Newswires) -- ...

• -- Earnings Flash (ARCB) ARCBEST Posts Q1 EPS $1.34, vs. Street Est of $1.53, from 3 hours ago by MT Newswires

  3 hours ago by MT Newswires
  Companies Mentioned: ARCB
  06:02 AM EDT, 04/30/2024 (MT Newswires) -- ...

• ArcBest Announces First Quarter 2024 Results, from 3 hours ago by Business Wire

  3 hours ago by Business Wire
  Companies Mentioned: ARCB

  ArcBest(R) (Nasdaq: ARCB), a leader in supply chain logistics, today reported first quarter 2024 revenue from continuing operations of $1.0 billion, compared to $1.1 billion in the first quarter of 2023. First quarter 2024 operating income from continuing operations was $22.4 million, compared to $21.2 million in the prior year period, and net loss from continuing operations was $2.9 million, or $0.12 per diluted share, compared to net income of $18.8 million, or $0.75 per diluted share, in 2023. Included in the first quarter net loss from continuing operations is a $21.6 million after-tax, noncash impairment charge associated with ArcBest's equity investment in Phantom Auto, which ceased operations during the first quarter of 2024.

• ArcBest Announces First Quarter 2024 Results, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: ARCB
  outstanding used to calculate non-GAAP diluted earnings per share for first quarter 2024 were adjusted to include unvested restricted stock awards, which were excluded from the calculation of GAAP diluted earnings per share due to the net loss. Three Months Ended March 31, 2024 ------------------- Average Common Shares Outstanding Diluted shares on GAAP basis 23,561,309 Effect of unvested restricted stock awards 568,770 ------------------ Non-GAAP diluted shares 24,130,079 ------------------ (7) Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP amounts and the non-GAAP adjustments due to rounding. (8) Represents costs associated with the freight handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023. (9) Tax rate for total "Amounts on GAAP basis" represents the effective tax rate. The tax effects of non-GAAP adjustments are calculated based on the statutory rate applicable to each item based on tax jurisdiction unless the nature of the item requires the tax effect to be estimated by applying a specific tax treatment. (10) Includes amortization of intangibles associated with acquired businesses. ARCBEST CORPORATION OPERATING STATISTICS Three Months Ended March 31 ---------------------------- 2024 2023 % Change ------- ------- ---------- (Unaudited) Asset-Based Workdays 63.5 64.0 Billed Revenue(1) / CWT $ 48.56 $ 41.99 15.6% Billed Revenue(1) / Shipment $542.84 $529.43 2.5% Shipments / Day 19,566 20,856 (6.2%) Tons / Day 10,937 13,149 (16.8%) Pounds / Shipment 1,118 1,261 (11.3%) Average Length of Haul (Miles) 1,110 1,096 1.3% _________________________ (1) Revenue for undelivered freight is deferred for financial statement purposes in accordance with the Asset-Based segment revenue recognition policy. Billed revenue used for calculating revenue per hundredweight measurements has not been adjusted for the portion of revenue deferred for financial statement purposes. Year Over Year % Change -------------------------- Three Months Ended March 31, 2024 -------------------------- (Unaudited) Asset-Light(2) Revenue / Shipment (19.7 %) Shipments / Day 13.6% _________________________ (2) Statistical data for the periods presented include transactions related to managed transportation solutions which were previously excluded from the presentation of operating statistics for the Asset-Light segment for the three months ended March 31, 2023.
  

• *DJ ArcBest 1Q Adj EPS $1.34 >ARCB, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: ARCB
  (6) For first quarter 2024, ArcBest reported a net loss on a GAAP basis and reported net income on a non-GAAP basis. The average common shares outstanding used to calculate non-GAAP diluted earnings per share for first quarter 2024 were adjusted to include unvested restricted stock awards, which were excluded from the calculation of GAAP diluted earnings per share due to the net loss. Three Months Ended March 31, 2024 ------------------- Average Common Shares Outstanding Diluted shares on GAAP basis 23,561,309 Effect of unvested restricted stock awards 568,770 ------------------ Non-GAAP diluted shares 24,130,079 ------------------ (7) Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP amounts and the non-GAAP adjustments due to rounding. (8) Represents costs associated with the freight handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023. (9) Tax rate for total "Amounts on GAAP basis" represents the effective tax rate. The tax effects of non-GAAP adjustments are calculated based on the statutory rate applicable to each item based on tax jurisdiction unless the nature of the item requires the tax effect to be estimated by applying a specific tax treatment. (10) Includes amortization of intangibles associated with acquired businesses. ARCBEST CORPORATION OPERATING STATISTICS Three Months Ended March 31 ---------------------------- 2024 2023 % Change ------- ------- ---------- (Unaudited) Asset-Based Workdays 63.5 64.0 Billed Revenue(1) / CWT $ 48.56 $ 41.99 15.6% Billed Revenue(1) / Shipment $542.84 $529.43 2.5% Shipments / Day 19,566 20,856 (6.2%) Tons / Day 10,937 13,149 (16.8%) Pounds / Shipment 1,118 1,261 (11.3%) Average Length of Haul (Miles) 1,110 1,096 1.3% _________________________ (1) Revenue for undelivered freight is deferred for financial statement purposes in accordance with the Asset-Based segment revenue recognition policy. Billed revenue used for calculating revenue per hundredweight measurements has not been adjusted for the portion of revenue deferred for financial statement purposes. Year Over Year % Change -------------------------- Three Months Ended March 31, 2024 -------------------------- (Unaudited) Asset-Light(2) Revenue / Shipment (19.7 %) Shipments / Day 13.6% _________________________ (2) Statistical data for the periods presented include transactions related to managed transportation solutions which were previously excluded from the presentation of operating statistics for the Asset-Light segment for the three months ended March 31, 2023.