ArcBest Corp

Latest Results (07.01.2025):

Fourth Quarter 2023 Earnings

ArcBest Corp reported a net income of $48.8 million, or $2.01 per diluted share, for the fourth quarter of 2023. On a non-GAAP basis, the net income was $60.0 million, or $2.47 per diluted share. This reflects a strong performance compared to the prior-year period, showcasing the company's effective strategies in navigating market disruptions.

Revenue and Operating Income

For the fourth quarter of 2023, ArcBest Corp's revenue from continuing operations was $1.1 billion, a slight decrease from $1.2 billion in the same quarter of 2022. The operating income from continuing operations increased to $64.3 million, compared to $50.2 million in the fourth quarter of 2022, indicating improved operational efficiency.

Full Year 2023 Financial Performance

ArcBest Corp achieved a full year 2023 net income from continuing operations of $142.2 million, or $5.77 per diluted share. On a non-GAAP basis, the net income was $194.1 million, or $7.88 per diluted share. The company's revenue from continuing operations for the full year totaled $4.4 billion, compared to $5.0 billion in 2022.

Shareholder Returns and Capital Allocation

In 2023, ArcBest Corp returned $103 million to shareholders through share repurchases and quarterly cash dividends. The board of directors increased the company's share repurchase program authorization to $125 million, reflecting a commitment to strategic capital allocation and shareholder value.

Asset-Based and Asset-Light Segments

ArcBest Corp's Asset-Based segment reported a fourth quarter 2023 revenue of $710.0 million, with an operating income of $87.5 million. The Asset-Light segment, however, experienced a revenue decrease to $413.4 million and an operating loss of $7.7 million, impacted by lower revenue per shipment and reduced margins.