Welcome to our dedicated page for ArcBest Corporation news (Ticker: ARCB), a resource for investors and traders seeking the latest updates and insights on ArcBest Corporation stock.
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) reported Q3 2020 revenue of $795 million, marking a 0.2% increase from Q3 2019. Operating income rose to $39.8 million from $31.2 million year-over-year. Net income for the quarter was $29.4 million ($1.11 per diluted share), compared to $16.3 million ($0.62) in Q3 2019. The company achieved a net cash position of $59 million, up from $41 million in Q2 2020. Strong performance in Asset-Light services and improved operational efficiencies contributed to profitability.
ArcBest (Nasdaq: ARCB) announced a quarterly cash dividend of $0.08 per share, payable to shareholders of record on November 13, 2020, with payment on November 27, 2020. This decision reflects the company's commitment to returning value to its shareholders, aligning with its growth strategy in the logistics sector.
ArcBest (Nasdaq: ARCB) announced that Erin Gattis, the company's Chief Human Resources Officer, received the 2020 C-Suite Award from the Northwest Arkansas Business Journal. Gattis has been recognized for her contributions in enhancing employee experience, leadership development, and succession planning at ArcBest. The award highlights the critical role of executives in driving innovation and success within the local business community. Gattis oversees various corporate functions and is active in community service, reflecting her commitment to fostering a positive workplace culture.
ArcBest (Nasdaq: ARCB) will announce its third quarter 2020 financial results on November 3, 2020, prior to market opening. A conference call is scheduled for 9:30 a.m. ET to discuss these results, accessible by calling (800) 268–2160. A recorded playback will be available until December 15, 2020, using the number (800) 633-8284. Interested parties can also access a live webcast of the call on ArcBest's website. For more information about the company, visit arcb.com.
FleetNet America, an ArcBest company (Nasdaq: ARCB), has achieved a significant milestone by completing its 100,000th electronic dispatch via the sureEcosystem platform on Sept. 10, 2020. This platform enhances communication between service providers and FleetNet, allowing real-time updates and efficient data sharing, thus improving customer experience. Vice President Don Doty emphasized the platform's benefits, including greater visibility into equipment status and enhanced communication tools for service providers.
On September 1, 2020, ArcBest (Nasdaq: ARCB) announced key organizational changes to enhance its supply chain logistics services. Dennis Anderson has been promoted to chief customer officer, overseeing sales, marketing, and customer service. Meanwhile, Danny Loe will become president of asset-light logistics while continuing his role as chief yield officer. The company aims to grow its asset-light business to 50% of overall revenues, addressing customer needs with a focus on yield management and operational efficiency. CEO Judy R. McReynolds emphasized the importance of these changes for delivering superior customer service.
ArcBest (Nasdaq: ARCB) has been recognized as one of the 100 Great Supply Chain Partners for the fifth consecutive year, according to SupplyChainBrain. This accolade stems from a poll conducted among supply chain professionals, acknowledging companies that enhance efficiency and customer service. ArcBest’s less-than-truckload carrier, ABF Freight, has also received similar recognition in previous years. Judy R. McReynolds, the company’s CEO, expressed pride in this acknowledgment, emphasizing their commitment to excellence in supply chain solutions.
FAQ
What is the current stock price of ArcBest Corporation (ARCB)?
What is the market cap of ArcBest Corporation (ARCB)?
What does ArcBest Corporation specialize in?
What are the main segments of ArcBest Corporation?
What companies and brands fall under ArcBest Corporation?
What services does the Asset-Based segment provide?
What services does the Asset-Light segment provide?
How does ArcBest Corporation ensure timely delivery?
What is ArcBest Technologies?
What recent achievements has ArcBest Corporation made?
How does ArcBest Corporation handle household moves?
Where can I find the latest news about ArcBest Corporation?
