earnings
confidence high
sentiment neutral
materiality 0.65
ArcBest Q3 update: Asset-Based OR flat to +50bps sequentially; real estate gain $16M
ARCBEST CORP /DE/
- August Asset-Based daily shipments +5% YoY, weight/shipment -3%; revenue/cwt ex-fuel flat.
- Q3 Asset-Based OR (ex-real estate) expected flat to +50bps sequentially vs historical avg +70bps improvement.
- Expects ~$25M net real estate proceeds in Q3, pre-tax gain ~$16M in Asset-Based segment.
- Asset-Light non-GAAP operating income Q3 expected breakeven to $1M; revenue/day -6% YoY in August.
- Weight per shipment lower and cartage costs up from new business wins, pressuring margins.
item 7.01