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ArcBest Corporation - ARCB STOCK NEWS

Welcome to our dedicated page for ArcBest Corporation news (Ticker: ARCB), a resource for investors and traders seeking the latest updates and insights on ArcBest Corporation stock.

ArcBest Corporation (symbol: ARCB) is a leading logistics and transportation company that expertly handles complex supply chain challenges. ArcBest operates through two primary segments: Asset-Based and Asset-Light.

The Asset-Based segment involves the operations of ABF Freight System, Inc., and other subsidiaries. It provides comprehensive transportation services including national, inter-regional, and regional LTL (Less-Than-Truckload) freight services. This segment also offers expedited and guaranteed LTL services to ensure timely delivery of goods.

The Asset-Light segment encompasses a diverse range of logistics services. These include truckload, ground expedite, dedicated transportation, intermodal solutions, household goods moving, and managed transportation. Additionally, ArcBest extends its reach globally with international freight transportation services encompassing air, ocean, and ground shipments.

Among the prominent brands under the ArcBest umbrella are ABF Freight, ABF Logistics, Panther Premium Logistics, FleetNet America, U-Pack, and ArcBest Technologies. Each brand is dedicated to providing tailored solutions, whether it's shipment and supply chain optimization, household moves, or vehicle repair services.

ArcBest’s business model emphasizes innovation and customer-centric solutions, leveraging advanced technologies through ArcBest Technologies to streamline logistics processes. The company remains committed to delivering efficient, reliable, and cost-effective services to meet diverse client needs.

Recently, ArcBest has engaged in numerous projects aimed at enhancing their logistics capabilities and expanding their service offerings. The company remains financially robust with a positive growth trajectory, underpinned by strategic partnerships and continuous improvement initiatives.

Stay updated with the latest news from ArcBest Corporation to learn more about their ongoing developments, recent achievements, and future projects.

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ArcBest (Nasdaq: ARCB) has announced key leadership changes effective August 1, 2024. Seth Runser, current president of ABF Freight, will become president of ArcBest, while Judy R. McReynolds will remain CEO and chairman of the board. Matt Godfrey, current vice president of engineering at ABF, will succeed Runser as ABF president.

Runser has led ABF through significant challenges and achievements, including navigating the global pandemic, renewing a five-year union labor agreement, and driving eight quarters of record results. Under his leadership, ABF has improved profitability, increased employee productivity, and implemented innovations enhancing efficiency and sustainability.

Godfrey, with 20 years of experience at ABF, has been instrumental in driving optimization efforts and business improvements. Both appointments reflect ArcBest's commitment to long-term growth, innovation, and value creation for employees, customers, and shareholders.

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ArcBest (Nasdaq: ARCB) will release its second quarter 2024 financial results on August 2, 2024, before the market opens. Following this, company executives will host a conference call at 9:30 a.m. EDT to discuss the results.

Participants can join the call by dialing (800) 715-9871 with the conference ID 4743250. A recorded playback of the call will be available until August 15, 2024, by dialing (800) 770-2030 with the same conference ID. The call will also be webcast live on ArcBest's website at arcb.com.

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ArcBest (Nasdaq: ARCB), an integrated logistics company, has partnered with Scholarship America to launch its first Employee Dependent Scholarship Program. This program provides recipients with $2,000 per academic year, starting from the 2024-2025 school year. Ten students were selected for the inaugural scholarships based on academic performance, leadership, community involvement, educational goals, and financial need. The program is open to dependent children of full-time employees who have worked at ArcBest for at least three years. Scholarships can be renewed annually, allowing recipients to earn up to $8,000 over four years, provided they maintain a 2.5 GPA and complete 24 semester hours each year. The initiative aligns with ArcBest's core value of growth and its Philanthropic Pillar of Education, supporting local and higher education to develop the future workforce.

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ArcBest reported first quarter 2024 revenue of $1.0 billion compared to $1.1 billion in 2023. Operating income was $22.4 million, with a net loss of $2.9 million. Non-GAAP operating income was $42.6 million. Asset-Based segment saw pricing momentum and improved efficiencies. Asset-Light segment revenue decreased to $396.4 million. The company remains focused on growth and efficiency.

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ArcBest's LTL carrier, ABF Freight, has won the Excellence in Security award from the ATA for a record tenth time, setting industry standards for trucking security. This award recognizes ABF's commitment to protecting employees, property, trucks, and cargo with advanced technology and specialized roles in security. The company's ongoing strategic investments in security initiatives demonstrate their dedication to continuous improvement and innovation.

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ArcBest (ARCB) has announced a quarterly cash dividend of $0.12 per share for its Common Stock. The dividend will be payable to shareholders on May 24, 2024.

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ArcBest (ARCB) to release Q1 2024 financial results on April 30, 2024, followed by a conference call for discussion. Interested parties can join the call or listen to the playback.
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ArcBest collaborates with NVIDIA to enhance AI capabilities for material-handling technology, aiming to revolutionize the supply chain industry. The partnership introduces the NVIDIA Isaac Perceptor platform to ArcBest's Vaux Smart Autonomy autonomous forklifts, enabling improved safety, efficiency, and flexibility in operations. This strategic move underscores ArcBest's commitment to innovation and customer-centric solutions in a rapidly evolving supply chain landscape.
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ArcBest (ARCB) introduces Vaux Smart Autonomy, a groundbreaking technology that revolutionizes material handling processes in warehouses, distribution centers, and manufacturing facilities. The autonomous system combines AMR forklifts and reach trucks with intelligent software and remote teleoperation capabilities, allowing for flexible and efficient material handling. ArcBest's ongoing investments in technology and innovation drive profitable growth and customer success, positioning the company as a leader in the industry.
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ArcBest (ARCB) reported strong financial results for the fourth quarter and full year 2023, with net income of $48.8 million and $142.2 million respectively. The company also returned $103 million to shareholders in 2023 through share repurchases and quarterly cash dividends, and increased their share repurchase program authorization to $125 million.
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FAQ

What does ArcBest Corporation specialize in?

ArcBest Corporation specializes in solving complex logistics and transportation challenges through a range of services including LTL freight, truckload, expedited, intermodal, and international transportation.

What are the main segments of ArcBest Corporation?

ArcBest operates through two main segments: Asset-Based, which includes LTL services, and Asset-Light, which encompasses truckload, expedited, dedicated transportation, and international freight services.

What companies and brands fall under ArcBest Corporation?

ArcBest includes several brands such as ABF Freight, ABF Logistics, Panther Premium Logistics, FleetNet America, U-Pack, and ArcBest Technologies.

What services does the Asset-Based segment provide?

The Asset-Based segment provides LTL freight services including national, inter-regional, and regional transportation of general commodities, as well as expedited and guaranteed LTL services.

What services does the Asset-Light segment provide?

The Asset-Light segment offers truckload, ground expedite, dedicated transportation, intermodal solutions, household goods moving, managed transportation, warehousing and distribution, and international air, ocean, and ground freight services.

How does ArcBest Corporation ensure timely delivery?

ArcBest uses expedited and guaranteed LTL services to ensure timely delivery, along with advanced logistics technologies and a customer-centric approach.

What is ArcBest Technologies?

ArcBest Technologies is the technological arm of ArcBest Corporation, focusing on leveraging advanced technologies to optimize logistics processes and improve service delivery.

What recent achievements has ArcBest Corporation made?

ArcBest has recently undertaken projects to enhance logistics capabilities and expand service offerings, maintaining a strong financial growth trajectory.

How does ArcBest Corporation handle household moves?

ArcBest handles household moves through its U-Pack service, offering cost-effective and customized moving solutions.

Where can I find the latest news about ArcBest Corporation?

You can stay updated with the latest news and developments about ArcBest Corporation by visiting their official website or following industry news sources.

ArcBest Corporation

Nasdaq:ARCB

ARCB Rankings

ARCB Stock Data

2.80B
23.43M
0.91%
102.4%
7.42%
General Freight Trucking, Local
Transportation and Warehousing
Link
United States of America
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