Core LTL tonnage sluggish for ArcBest and its peers, but industry pricing remains rational.
In the first quarter, less-than-truckload carrier ArcBest posted roughly 5% total revenue growth year over year, driven by higher LTL yields (revenue per hundredweight), rising fuel surcharges, and the small LDS acquisition last September. Consolidated revenue came in slightly below our forecast because of a soft showing at FleetNet related to fewer roadside events. Ignoring expenses linked to internal realignment efforts and pension settlement costs, profitability in the core LTL shipping divis...ArcBest is a holding company. Through its subsidiaries, the company provides a suite of freight transportation services and integrated logistics solutions. The company's operations are conducted through three reportable operating segments: Asset-Based, ArcBest, and FleetNet. The company's Asset-Based segment provides less-than-truckload services through its subsidiary, ABF Freight System, Inc., and certain other subsidiaries' motor carrier operations. The ArcBest and FleetNet reportable segments, combined, represent the company's Asset-Light operations, which provide customers end-to-end logistics solutions, designed to satisfy the supply chain and shipping requirements they encounter.
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