LTL stocks sag on Q4 updates [Yahoo! Finance]
ArcBest Corporation (ARCB)
Last arcbest corporation earnings: 1/30 04:05 pm
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Source: Yahoo! Finance
The updates likely reflect the bottom of the cycle, the point where carriers are in need of more volume, or an improved freight mix, moving through their high fixed-cost networks. ArcBest ( NASDAQ: ARCB ) was down 1.6% at 11:19 a.m. EST while shares of Saia ( NASDAQ: SAIA ) were down 2.7%. The S&P 500 was down just 0.1% at the time. ArcBest's asset-based unit, which includes results from LTL subsidiary ABF Freight, recorded a 7% year-over-year decline in revenue per day during November as tonnage fell 6% and revenue per hundredweight, or yield, declined 1%. The tonnage decline was the result of a 1% dip in shipments and a 6% drop in weight per shipment. The November result was an improvement from an 11.2% y/y revenue decline in October (tonnage down 8.7% and yield down 2.7%), but that month was up against a much tougher comp. Many LTL carriers benefited from a cyberattack at private carrier Estes in October 2023, which, ArcBest said in a Tuesday filing with the Securities and
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ARCB
News
- Last Mile Delivery Market in North America to Grow by USD 18.78 Billion (2024-2028), Driven by US B2C E-Commerce and AI-Powered Market Evolution - Technavio [Yahoo! Finance]Yahoo! Finance
- Less-than-Truckload (LTL) Market to grow by USD 120.31 Billion (2024-2028), fueled by e-commerce growth in retail, with AI shaping market trends - Technavio [Yahoo! Finance]Yahoo! Finance
- ArcBest Faces Revenue Decline Amid Market Challenges [Yahoo! Finance]Yahoo! Finance
- LTL carriers waiting for next demand catalyst in post-Yellow world [Yahoo! Finance]Yahoo! Finance
- Should You Think About Buying ArcBest Corporation (NASDAQ:ARCB) Now? [Yahoo! Finance]Yahoo! Finance
ARCB
Earnings
- 11/1/24 - Miss
ARCB
Sec Filings
- 12/3/24 - Form 8-K
- 11/25/24 - Form 4
- 11/22/24 - Form 144
- ARCB's page on the SEC website