Arcbest Corp - ARCB STOCK NEWS

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.

ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, announces a two-day hiring event for its less-than-truckload carrier, ABF Freight®, on October 26 and October 27 in Baltimore, MD, and October 28 in Manassas, VA. The company seeks full-time Class A CDL city drivers, part-time forklift operators, and candidates for their Driver Development Program. ABF is offering signing bonuses of $10,000 for full-time city drivers. The events will run from 7 a.m. to 7 p.m., with no appointment necessary. Interested candidates can expect job application assistance and potential same-day job offers.

ArcBest (Nasdaq: ARCB) announced a two-day hiring event for ABF Freight on October 21 and October 22 in Denver, Colorado. ABF Freight aims to fill various positions, including Class A CDL city drivers, road drivers, and forklift operators. Signing bonuses of $12,000 for city and road drivers and $7,000 for forklift operators are available. The event is open from 7 a.m. to 7 p.m. and requires no appointment. ABF offers comprehensive benefits including no-cost medical and pension plans. For more details, visit arcb.com.

ArcBest® (Nasdaq: ARCB) announced a two-day hiring event for its ABF Freight® division on October 18 and October 19 in Salt Lake City, Utah. The event aims to recruit full-time and part-time Class A CDL city drivers and forklift operators. Hiring bonuses of up to $10,000 for full-time drivers and $5,000 for forklift operator trainees are available. Candidates can receive on-the-spot interviews and job offers during the event. ABF Freight, established in 1923, operates a significant network across North America, employing over 10,000 individuals.

ArcBest (Nasdaq: ARCB) will announce its third quarter 2021 financial results before market opening on November 2, 2021. A conference call is scheduled for 9:30 a.m. EDT to discuss the results, with a playback available until December 15, 2021. ArcBest is a multibillion-dollar integrated logistics company with over 14,000 employees and more than 250 service centers. For further details, visit arcb.com.