ArcBest Q2 net income $46.9M ($1.96 EPS), revenue $1.08B; operating income improves YoY

ARCBEST CORP /DE/

2024-Q2 EPS reported $1.86 revenue$2,114,250,000

Net income $46.9M vs $39.6M YoY; non-GAAP EPS $1.98 vs $1.54; revenue $1.08B vs $1.10B.
Asset-Based operating income $72.8M (OR 89.8%) vs $43.3M (94.0%) YoY on core shipment growth and pricing.
Asset-Light operating loss $9.5M vs income $13.2M YoY due to soft truckload rates and margins.
Total tonnage per day down 20.3% but core shipments up 14%; contract renewal increases of 5.1%.
Operating income from continuing ops $48.8M vs $42.1M YoY; CEO notes best on-time service in five years.

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