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ArcBest Corporation (symbol: ARCB) is a leading logistics and transportation company that expertly handles complex supply chain challenges. ArcBest operates through two primary segments: Asset-Based and Asset-Light.
The Asset-Based segment involves the operations of ABF Freight System, Inc., and other subsidiaries. It provides comprehensive transportation services including national, inter-regional, and regional LTL (Less-Than-Truckload) freight services. This segment also offers expedited and guaranteed LTL services to ensure timely delivery of goods.
The Asset-Light segment encompasses a diverse range of logistics services. These include truckload, ground expedite, dedicated transportation, intermodal solutions, household goods moving, and managed transportation. Additionally, ArcBest extends its reach globally with international freight transportation services encompassing air, ocean, and ground shipments.
Among the prominent brands under the ArcBest umbrella are ABF Freight, ABF Logistics, Panther Premium Logistics, FleetNet America, U-Pack, and ArcBest Technologies. Each brand is dedicated to providing tailored solutions, whether it's shipment and supply chain optimization, household moves, or vehicle repair services.
ArcBest’s business model emphasizes innovation and customer-centric solutions, leveraging advanced technologies through ArcBest Technologies to streamline logistics processes. The company remains committed to delivering efficient, reliable, and cost-effective services to meet diverse client needs.
Recently, ArcBest has engaged in numerous projects aimed at enhancing their logistics capabilities and expanding their service offerings. The company remains financially robust with a positive growth trajectory, underpinned by strategic partnerships and continuous improvement initiatives.
Stay updated with the latest news from ArcBest Corporation to learn more about their ongoing developments, recent achievements, and future projects.
ArcBest (Nasdaq: ARCB) announces a hiring event for its ABF Freight service on January 13 in Houston, Texas. The event will run from 7 a.m. to 7 p.m. at 5880 Kelley St., where potential candidates can apply for full-time and part-time Class A CDL city driver positions. ABF Freight is offering a $2,500 signing bonus for full-time hires. The company emphasizes the importance of recruiting top talent to continue delivering excellent service, boasting over 10,000 employees nationwide.
ArcBest (Nasdaq: ARCB) will host a two-day hiring event for ABF Freight on November 16 and 17 in Kansas City, Missouri. The event seeks to fill full-time Class A CDL city drivers and part-time forklift operators, offering signing bonuses of $5,000 and $500, respectively. Candidates may receive job offers on the spot and participate in interviews from 7 a.m. to 7 p.m. at the Kansas City service center. ABF Freight emphasizes its commitment to quality talent to enhance customer service as it aims for continued growth in a key distribution area.
ArcBest (Nasdaq: ARCB) announces a two-day hiring event for its less-than-truckload carrier, ABF Freight, on November 10 and November 11 in Little Rock, Arkansas. The company seeks to fill positions for full-time Class A CDL drivers, shop technicians, and part-time forklift operators, offering signing bonuses of $5,000. Candidates will have opportunities for interviews and job offers on-site from 7 a.m. to 7 p.m. at 3100 Springhill Drive. ABF provides excellent benefits, including premium-free medical coverage and a pension plan. Visit jobs.abf.com for more details.
ArcBest (ARCB) reported a strong third quarter for 2021, achieving $1.0 billion in revenue, up from $795.0 million in Q3 2020. Operating income surged to $87.6 million, yielding a net income of $63.7 million or $2.38 per diluted share, compared to $29.4 million or $1.11 per share last year. Non-GAAP operating income reached $96.1 million versus $45.8 million in 2020. The acquisition of MoLo Solutions is expected to enhance ArcBest's logistics services, driving growth and shareholder value.
ArcBest (Nasdaq: ARCB) has completed the acquisition of MoLo Solutions, a truckload freight brokerage based in Chicago, effective November 1, 2021. This strategic move enhances ArcBest's logistics capabilities and strengthens its position in the supply chain sector. With a history dating back to 1923, ArcBest operates over 250 campuses and service centers employing more than 14,000 individuals. This acquisition aligns with ArcBest's mission to innovate and meet customer needs through integrated logistics solutions.
ArcBest (Nasdaq: ARCB) has declared a quarterly cash dividend of $0.08 per share, payable on November 26, 2021. In addition, the Board authorized an accelerated share repurchase program (ASR) with Morgan Stanley for $100 million of common stock, supplementing a remaining $41.9 million from a previous program. The ASR is set to initiate post earnings release on November 2, 2021. CEO Judy R. McReynolds expressed confidence in the company's growth prospects, asserting the current stock price does not reflect its intrinsic value, indicating strong financial health with solid free cash flow.
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