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ArcBest (ARCB) just unveiled an announcement.
ArcBest® has revealed a mixed financial picture for the second quarter of 2024, with notable shifts in its Asset-Based and Asset-Light segments. While there has been a decrease in billed revenue per day and a significant drop in total tons and shipments per day, the company has managed to increase revenue per hundredweight and per shipment. Strategic pricing changes led to a reduction in heavier, transactional shipments but also bolstered core shipments. The Asset-Light segment experienced an uptick in daily shipments, despite a fall in revenue per shipment, mainly due to a softer freight market and an increase in smaller-sized managed business shipments.
Learn more about ARCB stock on TipRanks’ Stock Analysis page.