ArcBest Q3 preliminary update: Asset-Light op loss ~$5-6M; QTD revenue/day -3%

ARCBEST CORP /DE/

Asset-Based QTD billed revenue/day -3% YoY; tonnage/day -11% on softer macro and higher spot pricing.
Effective Sept 9, 2024, 5.9% GRI for LTL services; contractual wage/benefit up ~2.7% in Q3.
Expects Q3 Asset-Based operating ratio flat to -50bps vs Q2 2024.
Asset-Light QTD revenue/day -7%; purchased transport expense 86% of revenue; non-GAAP op loss $5-6M.
MoLo contingent consideration subject to Monte Carlo simulation based on 2023-2025 adjusted EBITDA targets.

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