ARCB · ArcBest Corporation

ArcBest delivered Q1 2026 revenue growth of 3.3% year-over-year to $998.8 million, driven by Asset-Based tonnage up 6.5% per day and Asset-Light shipments up 9.8% per day, though GAAP profitability declined to a $1.0 million net loss from $3.1 million income due to higher operating expenses from labor, fuel, and depreciation. Asset-Based segment showed revenue up 2.2% per day to $655.0 million with operating income of $17.5 million and OR expansion to 97.3% from 95.9%, reflecting shipment growth partially offset by freight profile shifts toward heavier shipments and lower revenue per hundredweight down 3.9%. Customer contract renewals averaged 6.3% increases, supporting pricing discipline. Asset-Light revenue rose 7.0% per day to $377.7 million, achieving non-GAAP operating income of $2.8 million versus a $1.2 million loss prior year, aided by productivity gains and a strategic shift away from less profitable truckload volumes toward higher-margin Managed business. CEO Seth Runser highlighted growth in Asset-Based metrics and Asset-Light profitability amid a dynamic environment, with teams aligned on long-term targets. Returned over $10 million to shareholders via balanced capital allocation. April trends indicate Asset-Based billed revenue per day up 9% and Asset-Light revenue per day up 24%. Q2 outlook projects Asset-Based OR improvement of 400-500 basis points sequentially from Q1's 97.3%, and Asset-Light non-GAAP operating income of $1-3 million, excluding $2 million purchase accounting amortization. Full-year 2026 capex guidance is $150-170 million, with non-GAAP tax rate 25.5-26.5%.