ArcBest reports May preliminary data: asset-based tonnage +6% YoY; asset-light rev -11%

ARCBEST CORP /DE/

Asset-Based QTD shipments +6% YoY, tonnage +5%; revenue/CWT -4% (-2% ex-fuel surcharge).
Asset-Light QTD revenue -11% YoY; purchased transportation 85% of revenue; expects Q2 non-GAAP op income $0-1M.
Sequentially April to May: asset-based tonnage +5%, shipments +2%, weight/shipment +3%, rev/CWT flat ex-fuel.
Shipment mix shift to core easier-handle freight; manufacturing vertical shipments down; household goods continued decline.
Asset-Light revenue drop from strategic reduction in less profitable truckload; Managed business remains strong.

item 7.01

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