Latest news with #ArcBest
Yahoo
10 hours ago
- Business
- Yahoo
Dynamic pricing, easy comps end 22-month tonnage downturn at ArcBest
ArcBest has seen metrics flip through the first two months of the second quarter with tonnage returning to growth as yields lag. Easy volume comps after nearly two years of declines and heavier usage of a dynamic pricing tool were the catalysts. The company's asset-based segment, which includes results from less-than-truckload subsidiary ABF Freight, reported a 2% year-over-year increase in revenue per day during May, which followed a flat result in April, according to a filing with the Securities and Exchange Commission. Tonnage was up 6% y/y during May – the biggest y/y increase for the carrier since August 2022. The increase was driven by a 7% increase in shipments, which was slightly offset by a 1% decline in weight per shipment. Tonnage in the segment increased 3.6% y/y in April, which was the first positive move since May 2023. The volume increases were due to the easy comps created by a 22-month stretch of declines. ArcBest (NASDAQ: ARCB) has used a dynamic pricing model, which provides discounts to fill available network capacity (and vice versa) during the soft stretch. Overall, ArcBest noted more shipments from core accounts but said demand from manufacturing-tethered and household-moving customers remained soft. Manufacturing activity, which generates nearly two-thirds of the LTL industry's freight, slumped in May. The Manufacturing Purchasing Managers' Index remained slightly in contraction territory at 48.5 (a 50 reading is neutral). The new orders subindex, which is indicative of future near-term freight demand, remained in decline at 47.6. On a two-year-stacked comparison, ArcBest's tonnage was off 16% in May following a 17.9% decline in April. The stacked comps bottomed in January (down 27.2%). Revenue per hundredweight, or yield, was down 3.4% y/y in April and 4% lower in May even with modest declines in weight per shipment (the denominator in the equation). Through the first two months of the second quarter, yield is down 2% excluding the impact of fuel surcharges. Fewer shipments with manufacturing customers and the mix shift to core accounts were cited as the reasons. 'This decline was influenced by an increase in shipments from core customers with easier-to-handle freight, which generally have a lower revenue per hundredweight profile but are operationally more efficient,' the company said in the filing. ArcBest was also up against tough yield comps from a year ago – plus-24.6% and plus-26% from April and May of 2024, respectively. While there is some noise in ArcBest's yields, it said on the first-quarter call in April that contractual rate increases averaged 4.9% y/y, a 10.2% increase on a two-year-stacked comp. The filing said that 'the pricing environment remains rational. The company reiterated its prior margin guidance. It normally sees 300 to 400 bps of improvement from the first to the second quarter and expects to perform within that range again this year. That implies a 92.4% adjusted operating ratio at the midpoint, which would be 260 basis points worse y/y. ArcBest upped its forecast for the asset-light unit, which includes truck brokerage. The segment is now expected to see breakeven results to $1 million in adjusted operating income during the second quarter. That's better than the prior guide calling for an operating loss of $1 million to $2 million and would break a streak of seven straight quarterly losses. Revenue is down 11% y/y in the unit through the first two months of the second quarter as shipments per day are down 5% and revenue per shipment is off 6%. Purchased transportation expense as a percentage of revenue has held steady at 85%. Conversely, LTL carrier Saia (NASDAQ: SAIA) reported last week that its 22-month streak of y/y tonnage increases come to an end in May. The carrier was among the most aggressive in taking market share following Yellow Corp.'s July 2023 shutdown. Shares of ARCB were up 5.2% at 10:32 a.m. EDT on Monday compared to the S&P 500, which was up 0.1%. More FreightWaves articles by Todd Maiden: Saia's tonnage turns negative after 22-month run XPO sees modest tonnage decline in May Old Dominion's May update in line with prior Q2 guide The post Dynamic pricing, easy comps end 22-month tonnage downturn at ArcBest appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
ArcBest taps CH Robinson veteran to fix asset-light business
Transportation and logistics provider ArcBest announced Thursday that it has hired a former C.H. Robinson leader to head operations at its struggling asset-light logistics business. Mac Pinkerton, former president of C.H. Robinson's (NASDAQ: CHRW) flagship North American Surface Transportation (NAST) business, will join ArcBest (NASDAQ: ARCB) as chief operating officer of asset-light logistics, effective Jan. 5. Pinkerton will succeed Steven Leonard, who will retire next month after 24 years with ArcBest. (This is part of a planned succession announced earlier this year.) Leonard served as chief commercial officer and president of asset-light logistics for a two-year period ending in February shortly after his retirement was announced. He has served as the segment's chief operating officer since. Pinkerton was with C.H. Robinson for 27 years, serving in various leadership roles, before departing the 3PL in early 2024, six months after the company hired a new CEO.'We're excited for Mac to join our team. He brings a depth of experience, a passion for customers and extensive supply chain knowledge,' said ArcBest Chairman and CEO Judy McReynolds in a news release. 'We're confident in his ability to drive increased value for customers and shareholders.' ArcBest's asset-light unit, which includes the late-2021 acquisition of truckload brokerage MoLo Solutions, logged a seventh straight operating loss during the 2025 first quarter. Like other 3PLs and freight brokers, the segment has struggled during a prolonged freight recession. The unit is again expected to book a small operating loss in the second quarter. Asset-light will report to ArcBest President Seth Runser during the transition FreightWaves articles by Todd Maiden: Truckload spot rates to continue upward trend, RXO says Activist investor pushes Forward Air to execute 'value-maximizing sale' FedEx taps leaders from within for LTL spinoff, to Wall Street's dismay The post ArcBest taps CH Robinson veteran to fix asset-light business appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
29-05-2025
- Business
- Business Wire
ArcBest Appoints Mac Pinkerton as Chief Operating Officer of Asset-Light Logistics
FORT SMITH, Ark.--(BUSINESS WIRE)-- ArcBest ® (Nasdaq: ARCB), an integrated logistics company, has announced that Mac Pinkerton is joining the company as chief operating officer of asset-light logistics, effective January 5, 2026. Mac is an experienced executive with a strong track record of driving growth and implementing positive change. He has extensive industry experience that enables him to bring value immediately. He succeeds Steven Leonard, who is retiring in June after a 24-year career with ArcBest. The asset-light organization will report to Seth Runser, president of ArcBest, in the interim between Leonard's retirement and the beginning of January. 'We're excited for Mac to join our team. He brings a depth of experience, a passion for customers and extensive supply chain knowledge,' said Judy McReynolds, ArcBest chairman and CEO. 'We're confident in his ability to drive increased value for customers and shareholders.' Pinkerton joins ArcBest from C.H. Robinson, where he spent 28 years in various roles, most recently serving as president of North America Surface Transportation. ABOUT ARCBEST ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 14,000 employees across 250 campuses and service centers, the company is a logistics powerhouse, using its technology, expertise and scale to connect shippers with the solutions they need — from ground, air and ocean transportation to fully managed supply chains. ArcBest has a long history of innovation that is enriched by deep customer relationships. With a commitment to helping customers navigate supply chain challenges now and in the future, the company is developing ground-breaking technology like Vaux ™, one of the TIME Best Inventions of 2023. For more information, visit
Yahoo
27-05-2025
- Business
- Yahoo
Limbach, ArcBest, L.B. Foster, Universal Logistics, and John Bean Shares Skyrocket, What You Need To Know
A number of stocks jumped in the afternoon session after the major indices rebounded (Nasdaq +2.0%, S&P 500 +2.0%) as President Trump postponed the planned 50% tariff on European Union imports, shifting the start date to July 9, 2025. Companies with substantial business ties to Europe likely had some relief as the delay reduced near-term cost pressures and preserved cross-border demand. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Construction and Maintenance Services company Limbach (NASDAQ:LMB) jumped 5.2%. Is now the time to buy Limbach? Access our full analysis report here, it's free. Ground Transportation company ArcBest (NASDAQ:ARCB) jumped 5.1%. Is now the time to buy ArcBest? Access our full analysis report here, it's free. General Industrial Machinery company L.B. Foster (NASDAQ:FSTR) jumped 6.4%. Is now the time to buy L.B. Foster? Access our full analysis report here, it's free. Ground Transportation company Universal Logistics (NASDAQ:ULH) jumped 5.2%. Is now the time to buy Universal Logistics? Access our full analysis report here, it's free. General Industrial Machinery company John Bean (NYSE:JBTM) jumped 5.2%. Is now the time to buy John Bean? Access our full analysis report here, it's free. L.B. Foster's shares are very volatile and have had 21 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 10 months ago when the stock dropped 21.5% on the news that the company reported weak second-quarter 2024 earnings. L.B. Foster exceeded analysts' revenue expectations. On the other hand, its EPS missed, and its EBITDA guidance for the full year fell short of Wall Street's estimates. Overall, this quarter could have been better. L.B. Foster is down 26.7% since the beginning of the year, and at $19.45 per share, it is trading 34% below its 52-week high of $29.45 from December 2024. Investors who bought $1,000 worth of L.B. Foster's shares 5 years ago would now be looking at an investment worth $1,440. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
13-05-2025
- Business
- Associated Press
Castlight Health Expands Partnership with ArcBest to Include Advanced Primary Care
SEATTLE, May 13, 2025 /PRNewswire/ -- Castlight Health, a leader in healthcare benefits navigation, and ArcBest®, a leader in supply chain logistics, announced today that they are strengthening their relationship by integrating Vera Whole Health's advanced primary care centers into ArcBest benefits. Both Castlight Health and Vera Whole Health are members of the apree health family of brands. 'At ArcBest, we prioritize the total well-being of our employees,' said Laura Wallace, director of Total Health at ArcBest. 'Castlight Health's integration directly with Vera Whole Health care centers allows us to deliver a more effective care experience, not only aiming to enhance our employee satisfaction, but creating real value for our employees and our company with lowered costs and better health among our population.' Since 2018, ArcBest has utilized Castlight Health's digital platform for personalized navigation, as well as Castlight Care Guides for high-touch healthcare support. With the addition of Vera Whole Health services, ArcBest is able to deliver more personalized, connected care, giving its employees an end-to-end view of their health journey. Employees typically begin in the Castlight app, where they can note health goals and search for care options, then continue with deeper insights uncovered during extended in-person visits at a Vera Whole Health care center. As part of ArcBest's full suite of digital health solutions, Vera Whole Health providers can integrate services, such as maternity care, smoking cessation, cancer support and more, directly into employees' personalized treatment plans. The new advanced primary care offering also allows ArcBest employees to benefit from tailored services like health coaching, behavioral health, diabetes management and other whole-person care services, enabling them to get care when and where they need it. 'Pairing our Castlight digital app with our Vera care centers allows us to go beyond traditional care models and get to truly know each individual – who they are, their health history and the benefits available to them – so we can provide comprehensive, personalized care,' said Jonathan Porter, CEO of Castlight Health. 'Unlike your typical healthcare setting, where care can feel fragmented or transactional, we ensure every member interaction is meaningful, coordinated and treating the whole person.' For more information on how apree health is transforming workplace healthcare, visit and About ArcBest ArcBest® is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 14,000 employees across 250 campuses and service centers, the company is a logistics powerhouse, using its technology, expertise and scale to connect shippers with the solutions they need — from ground, air and ocean transportation to fully managed supply chains. ArcBest has a long history of innovation that is enriched by deep customer relationships. With a commitment to helping customers navigate supply chain challenges now and in the future, the company is developing ground-breaking technology like Vaux ™, one of the TIME Best Inventions of 2023. For more information, visit About Castlight Health Castlight Health simplifies healthcare navigation by providing a comprehensive and highly tailored digital platform and clinical services. Leveraging advanced personalization capabilities, Castlight identifies individual needs to deliver customized health and wellbeing experiences, guiding individuals through their unique health journeys and helping them engage with the right programs and care at the right time. Founded in 2008, Castlight enables large employers and health plans to drive better outcomes, improve engagement and maximize the value of healthcare benefits. In 2022, Vera merged with Castlight to create apree health family of brands. In 2024, apree health became a business unit of Mosaic Health. For more information, visit About Vera Whole Health Founded in 2008, Vera Whole Health is leading the shift to value-based care using an advanced primary care model that delivers a superior experience, providing longer appointments, same or next-day access, and both in-person and virtual care. By integrating data-driven insights and multifunctional care teams, Vera improves health outcomes, reduces total cost of care and consistently achieves a best-in-class member experience. Vera currently owns and operates care centers in 11 states across the U.S. In 2022, Vera merged with Castlight to create apree health family of brands. In 2024, apree health became a business unit of Mosaic Health. For more information, visit About Mosaic Health Mosaic Health is a national care delivery platform focused on expanding access to comprehensive primary care for consumers with coverage across Commercial, Individual Exchange, Medicare and Medicaid health plans. The Business Units which comprise Mosaic Health, including apree health, Millennium Physician Group and Carelon Health, are multi-payer and serve nearly one million consumers across 19 states, providing them with access to high-quality primary care, integrated care teams, personalized navigation, expanded digital access and specialized services for higher-need populations. Through Mosaic Health, health plans and employers have an even stronger care provider partner that delivers affordability and superior experiences for their members and employees, including value-based primary care capacity integrated with digital patient engagement and navigation. Each of the companies within Mosaic Health provide unique offerings that together promise to improve individuals' health and wellbeing, while helping care providers deliver higher-quality care. For more information, please visit or follow Mosaic Health on LinkedIn. Media contact: [email protected] View original content to download multimedia: SOURCE Castlight Health
