ArcBest Releases Second-Quarter Financial Results Through May
ArcBest Corp. released second-quarter results through May in its less-than-truckload and third-party logistics divisions with strong results in most categories.
On its trucking side, daily billed revenue increased 7%. Tonnage per day went up 1%, daily shipments rose about 5%. The average weight per shipment fell year-over-year, but the carrier didn’t release a percentage. Revenue per one hundred pounds of freight grew 6%, which ArcBest credited to “changes in freight profile, account mix and higher fuel surcharges.”
Arcbest ranks No. 12 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
Sequentially, the operating ratio improved between 500 and 600 basis points.
In the logistics division, revenue grew 6% to 7%.
“This increase was influenced by strong growth in expedite revenue and dedicated truckload revenue in this year associated with an acquisition made in September 2016. FleetNet continues to experience revenue declines compared to last year due to fewer customer events,” the company said in a statement.
