ArcBest (ARCB) just unveiled an announcement.
ArcBest® has revealed its third quarter 2024 financial results, showcasing a mixed performance with a strategic increase in pricing offsetting a decline in daily tonnage. Despite a softer market, the company managed higher revenue per hundredweight, with core business volumes growing since market disruptions in July 2023. However, lower shipment weights have led to decreased revenue per shipment and overall tonnage. The company expects an operating ratio ranging from flat to a slight deterioration compared to the previous quarter, while the Asset-Light segment anticipates an operating loss due to soft truckload brokerage markets. ArcBest also announced a general rate increase for its less-than-truckload services starting September 9, 2024.
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