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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), an integrated logistics company, has partnered with Scholarship America to launch its first Employee Dependent Scholarship Program. This program provides recipients with $2,000 per academic year, starting from the 2024-2025 school year. Ten students were selected for the inaugural scholarships based on academic performance, leadership, community involvement, educational goals, and financial need. The program is open to dependent children of full-time employees who have worked at ArcBest for at least three years. Scholarships can be renewed annually, allowing recipients to earn up to $8,000 over four years, provided they maintain a 2.5 GPA and complete 24 semester hours each year. The initiative aligns with ArcBest's core value of growth and its Philanthropic Pillar of Education, supporting local and higher education to develop the future workforce.
ArcBest reported first quarter 2024 revenue of $1.0 billion compared to $1.1 billion in 2023. Operating income was $22.4 million, with a net loss of $2.9 million. Non-GAAP operating income was $42.6 million. Asset-Based segment saw pricing momentum and improved efficiencies. Asset-Light segment revenue decreased to $396.4 million. The company remains focused on growth and efficiency.
ArcBest's LTL carrier, ABF Freight, has won the Excellence in Security award from the ATA for a record tenth time, setting industry standards for trucking security. This award recognizes ABF's commitment to protecting employees, property, trucks, and cargo with advanced technology and specialized roles in security. The company's ongoing strategic investments in security initiatives demonstrate their dedication to continuous improvement and innovation.
ArcBest (ARCB) has announced a quarterly cash dividend of $0.12 per share for its Common Stock. The dividend will be payable to shareholders on May 24, 2024.
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