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.

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