ArcBest Dismisses Capacity Concerns
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truckload subsidiary ABF FreightFreightWaves
•Business
Business & Economics
ArcBest says LTL pricing not under attack
90% Informative
Less-than-truckload transportation provider ArcBest pushed back on concerns that an extended industrial downturn and the redeployment of bankrupt Yellow Corp.’s terminals has created too much capacity, which is pressuring yields.
ArcBest (NASDAQ: ARCB) reported first-quarter adjusted earnings per share of 51 cents ahead of the market open on Tuesday .
LTL unit reported a 95.9% adjusted operating ratio (inverse of operating margin), 390 basis points worse y/y and sequentially.
ArcBest said it anticipates a typical seasonal demand uptick during the second quarter .
Asset-light revenue was down 10.2% to $356 million in the first quarter .
The asset-light unit, which includes truck brokerage, reported a $1.2 million adjusted operating loss.
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