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Stockreport

ArcBest anticipates tough Q4 despite AI-driven productivity gains [Yahoo! Finance]

ArcBest Corporation (ARCB)  More Company Research Source: Yahoo! Finance
Last arcbest corporation earnings: 1/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: arcb.com/investor-relations
ArcBest's asset-light segment reported mixed Q3 results as productivity improvements clashed with a weakening freight market. The unit, which includes managed transportation, intermodal and warehousing among other services, achieved record shipments per day, executives said during the company's Nov. 5 earnings call . The segment's shipments per person per day rose 33% year over year — the highest in its history — driving a 13% reduction in selling, general and administrative expenses and a 1% improvement in cost per shipment YoY. Those efficiency gains weren't enough to overcome sluggish freight demand, however. Asset-light's revenue per shipment fell nearly 11% due to continued slowness in the housing market and softness in manufacturing. The segment's revenue fell almost 8% YoY to $356 million. ArcBest expects its asset-light business to post an operating loss between $1 million to $3 million in Q4, as market conditions remain weaker than usual. “We did see some softness in [Read more]
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Stockreport

ArcBest anticipates tough Q4 despite AI-driven productivity gains [Yahoo! Finance]

ArcBest Corporation  (ARCB) 
More Company Research Source: Yahoo! Finance
Last arcbest corporation earnings: 1/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: arcb.com/investor-relations
ArcBest's asset-light segment reported mixed Q3 results as productivity improvements clashed with a weakening freight market. The unit, which includes managed transportation, intermodal and warehousing among other services, achieved record shipments per day, executives said during the company's Nov. 5 earnings call . The segment's shipments per person per day rose 33% year over year — the highest in its history — driving a 13% reduction in selling, general and administrative expenses and a 1% improvement in cost per shipment YoY. Those efficiency gains weren't enough to overcome sluggish freight demand, however. Asset-light's revenue per shipment fell nearly 11% due to continued slowness in the housing market and softness in manufacturing. The segment's revenue fell almost 8% YoY to $356 million. ArcBest expects its asset-light business to post an operating loss between $1 million to $3 million in Q4, as market conditions remain weaker than usual. “We did see some softness in [Read more]
IMPACT SNAPSHOT
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ARCB
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Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
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%
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Event Day Chart will not be displayed beyond 90-day period of the event
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