Welcome to our dedicated page for Arcbest news (Ticker: ARCB), a resource for investors and traders seeking the latest updates and insights on Arcbest stock.
ArcBest Corporation reports news about an integrated logistics business that connects shippers with transportation and supply chain services across ground, air and ocean freight. Its updates commonly discuss Asset-Based operations led by ABF Freight less-than-truckload services, and Asset-Light services such as expedite, intermodal, managed transportation, warehousing and distribution, and international freight.
Recurring ArcBest announcements cover quarterly and annual results, shipment and tonnage trends, pricing and revenue-per-shipment measures, Asset-Light profitability, capital allocation through dividends and share repurchases, board composition, sustainability reporting and ABF Freight operating recognition.
ArcBest (Nasdaq: ARCB) reported second quarter 2020 revenue of $627.4 million, down from $771.5 million in Q2 2019. Operating income decreased to $20.4 million from $35.2 million, while net income was $15.9 million, or $0.61 per diluted share, compared to $24.4 million, or $0.92 per diluted share in the previous year. The company improved its net cash position to $41 million from $3 million net debt in March 2020. Despite challenges posed by the pandemic, positive trends in customer payments and sequential revenue growth in June were noted, with plans to restore costs in Q3 2020.
ArcBest (Nasdaq: ARCB) announced a quarterly cash dividend of $0.08 per share for common stockholders. The dividend will be payable on August 21, 2020, to shareholders of record as of August 7, 2020. This declaration reflects the company's ongoing commitment to returning value to its shareholders.
ArcBest (Nasdaq: ARCB) announces that Judy R. McReynolds has been recognized as one of the 2020 Top 10 Women in Logistics by Global Trade Magazine. McReynolds, who has been leading ArcBest since 2010, has expanded the company’s services beyond less-than-truckload solutions and focused on enhancing customer experience. Under her leadership, ArcBest achieved record revenue in 2018. McReynolds is also involved in various boards and organizations, showcasing her influence in the logistics and transportation sector.
ArcBest (Nasdaq: ARCB) announced on July 20, 2020, that it received the 2020 Top Fleet Award for Fleet Innovator from Samsara for its innovative use of technology in logistics. The award recognizes fleets utilizing telematics and API integrations to enhance operations. ArcBest's collaboration with Samsara has led to improved compliance and operational efficiencies through a customized digital platform, including a driver app and real-time GPS. This recognition highlights ArcBest's commitment to leveraging technology for better customer service and operational performance.
ArcBest (Nasdaq: ARCB) will announce its second quarter 2020 financial results before market opening on July 29, 2020. A conference call will take place at 9:00 a.m. EDT to discuss the results, and interested listeners can dial (800) 681–2231. A replay will be available until September 15, 2020, accessible through (800) 633-8284 or via the company's website. ArcBest is a leading logistics company providing innovative supply chain solutions.