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ArcBest Corporation (ARCB) has issued an announcement.
ArcBest® has reported fluctuating financial results in its first quarter of 2024, with its Asset-Based Operating Segment experiencing a decrease in billed revenue, total tons, and shipments per day, but an increase in revenue per weight and per shipment. Despite a softer freight environment, core shipments and tonnage saw an uptick from January to February. The Asset-Light Operating Segment also saw a dip in daily revenue and revenue per shipment due to softer market conditions and increased purchased transportation expenses. However, shipment counts have risen, suggesting a potential rebound. ArcBest® remains optimistic about leveraging its pricing discipline and cost-saving measures to navigate the challenging market and improve demand.
For detailed information about ARCB stock, go to TipRanks’ Stock Analysis page.