ArcBest reports preliminary Q2 trends: Asset-Based tons/day down 22% YoY; core shipments up 14% in May

ARCBEST CORP /DE/

Asset-Based: Billed revenue/day down ~2% YoY in Apr/May; total tons/day down 22% YoY QTD.
Core shipments/day up 14% and core tonnage up 11% in May vs. a year ago.
Asset-Light: Revenue/day down 8% QTD; shipments/day up 10%; revenue/shipment down 17%.
Strategic price adjustments reduced heavier transactional LTL business, shifting mix to core.
Management notes softer freight environment; DOT inspection week increased purchased transportation costs.

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