olivLaw · US equity research
ArcBest Corporation ARCB
Trucking (No Local) · SIC 4213 · Vertical: Trucking (No Local) (SIC 4213)
ArcBest is an integrated logistics company combining LTL trucking, truckload brokerage, managed transportation and international services under one offer. Consolidated revenues fell in 2025 to 4.0 bn USD, but in the second quarter of 2026 higher rates and volumes pointed to a recovery, while a restructuring plan aims at efficiency.
At the close of 04 Nov 2026, ArcBest Corporation (ARCB) stock was 139.29 USD (+3.58% on the day), with market capitalisation 3.1 bn USD, P/E 201.5 on diluted EPS of 0.69 USD over the last 12 months, dividend yield 0.34%, beta 1.55, 52-week range 59.62–173.22 USD. Latest reported quarter (Q2 2026): revenue of 1.2 bn USD (+15.9% YoY), net income of -13.8 m USD (−153.6% YoY), diluted EPS -0.62 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 63.6
- strong (55–70)
- Bollinger (20, 2)
- 123.68 – 136.22
- above the upper band · %B 1.24 · band width 9.6%
- SMA 50 / 200
- 131.52 / 125.25
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.33 / -0.75
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +6.2% | −2.0% | +8.2 pp | — |
| 3 months | −1.7% | −2.2% | +0.5 pp | — |
| 6 months | +14.3% | +4.3% | +10.1 pp | — |
| Year to date | +87.7% | +10.6% | +77.2 pp | — |
| 1 year | +95.1% | +10.5% | +84.6 pp | +31.6% |
| 3 years | +16.1% | +73.7% | −57.6 pp | −8.0% |
| 5 years | +26.6% | +61.7% | −35.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 1.0 bn | 967.1 m | 1.0 bn | 1.0 bn | 972.7 m | 998.8 m | 1.2 bn |
| Operating income | 135.0 m | 38.2 m | 6.6 m | 37.3 m | 54.6 m | -8.3 m | 3.4 m | -20.6 m |
| Depreciation & amortisation | 36.6 m | 39.4 m | 40.0 m | 40.9 m | 44.4 m | 45.0 m | 44.3 m | 44.7 m |
| Interest expense | 2.3 m | 2.4 m | 2.8 m | 3.0 m | 3.3 m | 3.3 m | 4.3 m | 3.4 m |
| Pre-tax income | 136.7 m | 37.5 m | 4.2 m | 36.0 m | 53.5 m | -10.6 m | -1.3 m | -21.0 m |
| Income tax | 36.4 m | 8.4 m | 1.0 m | 10.2 m | 14.2 m | -2.4 m | -297.0 k | -7.1 m |
| Net income | 100.3 m | 29.0 m | 3.1 m | 25.8 m | 39.3 m | -8.1 m | -1.0 m | -13.8 m |
| Diluted EPS | 4.23 | 1.23 ≈ | 0.13 | 1.12 | 1.72 | -0.36 ≈ | -0.05 | -0.62 |
| Operating cash flow | 88.8 m ≈ | 56.8 m | -23.4 m | 108.4 m ≈ | 99.3 m ≈ | 44.7 m | 8.5 m | 129.7 m ≈ |
| Capex | 64.9 m ≈ | 53.3 m | 14.5 m | 27.5 m ≈ | 65.0 m ≈ | 7.8 m | 9.8 m | 12.6 m ≈ |
| Dividends paid | 2.8 m ≈ | 2.8 m | 2.8 m | 2.8 m ≈ | 2.7 m ≈ | 2.7 m | 2.7 m | 2.7 m ≈ |
| Share repurchases | 24.5 m ≈ | 19.1 m | 22.0 m | 19.7 m ≈ | 16.4 m ≈ | 17.4 m | 7.4 m | 749.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 97 percentile of its own 39-quarter history (min 5.7, median 14.7, max 207.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.1 bn | 3.0 bn | 2.9 bn | 3.8 bn | 5.0 bn | 4.4 bn | 4.2 bn | 4.0 bn |
| Revenue YoY | +9.5% | −3.4% | −1.6% | +28.1% | +33.5% | −12.0% | −5.6% | −4.0% |
| Net income | 67.3 m | 40.0 m | 71.1 m | 213.5 m | 298.2 m | 195.4 m | 174.0 m | 60.1 m |
| Net income YoY | +12.6% | −40.6% | +77.8% | +200.3% | +39.7% | −34.5% | −11.0% | −65.5% |
| Diluted EPS | 2.51 | 1.51 | 2.69 | 7.98 | 11.69 | 7.93 | 7.30 | 2.62 |
| Diluted EPS YoY | +11.6% | −39.8% | +78.1% | +196.7% | +46.5% | −32.2% | −7.9% | −64.1% |
| net % | 2.2% | 1.3% | 2.4% | 5.7% | 5.9% | 4.4% | 4.2% | 1.5% |
| Free cash flow | 211.4 m | 79.4 m | 162.7 m | 265.1 m | 322.6 m | 103.1 m | 62.7 m | 114.2 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 102.0 m USD
- Financial debt
- 223.9 m USD
- Net debt
- 121.8 m USD
- Equity
- 1.3 bn USD
- Total assets
- 2.5 bn USD
- Debt / equity
- 0.17x
- Current ratio
- 0.95x
- ROE
- 4.6%
- ROA
- 2.5%
- FCF margin
- 2.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.9 bn | 3.8 bn | 5.0 bn | 4.4 bn | 4.2 bn | 4.0 bn | SEC (XBRL)· 25 Feb 2026verified |
| Research & development | 25.6 m | 32.8 m | 40.8 m | 52.4 m | 34.1 m | 29.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | 98.3 m | 277.0 m | 394.5 m | 172.6 m | 244.4 m | 90.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 118.4 m | 122.6 m | 138.2 m | 145.3 m | 149.1 m | 170.3 m | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | 216.7 m ≈ | 399.5 m ≈ | 532.7 m ≈ | 318.0 m ≈ | 393.5 m ≈ | 260.6 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Interest expense | 11.7 m | 8.9 m | 7.7 m | 9.1 m | 9.0 m | 12.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | 92.5 m | 273.1 m | 388.3 m | 186.9 m | 218.7 m | 83.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | 21.4 m | 62.6 m | 93.7 m | 44.8 m | 45.4 m | 23.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | 71.1 m | 213.5 m | 298.2 m | 195.4 m | 174.0 m | 60.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | 2.69 | 7.98 | 11.69 | 7.93 | 7.30 | 2.62 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | 26.4 m | 26.8 m | 25.5 m | 24.6 m | 23.8 m | 22.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividend per share | 0.32 | 0.32 | — | — | — | — | SEC (XBRL)· 25 Feb 2022verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 304.0 m | 76.6 m | 158.3 m | 262.2 m | 127.4 m | 102.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 320.9 m | 582.3 m | 517.5 m | 430.1 m | 394.8 m | 371.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 758.2 m | 776.1 m | 989.8 m | 884.8 m | 675.6 m | 626.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 678.7 m | 695.9 m | 800.2 m | 914.8 m | 1.1 bn | 1.1 bn | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 88.3 m | 299.7 m | 304.8 m | 304.8 m | 304.8 m | 304.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Intangibles (excl. goodwill) | 55.0 m | 126.6 m | 113.7 m | 101.2 m | 88.6 m | 69.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 1.8 bn | 2.1 bn | 2.5 bn | 2.5 bn | 2.4 bn | 2.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 170.9 m | 311.4 m | 269.9 m | 214.0 m | 172.8 m | 154.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Short-term debt | 67.1 m | 50.6 m | 66.3 m | 66.9 m | 64.0 m | 87.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Long-term debt | — | — | 198.4 m | 162.0 m | 125.2 m | 136.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 506.5 m | 702.7 m | 768.5 m | 701.6 m | 666.0 m | 656.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 828.6 m † | 929.1 m † | 1.2 bn † | 1.2 bn † | 1.3 bn † | 1.3 bn † | SEC (XBRL)· 25 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 206.0 m | 323.5 m | 470.8 m | 322.2 m | 285.8 m | 229.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 43.2 m | 58.4 m | 148.2 m | 219.0 m | 223.1 m | 114.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | 162.7 m ≈ | 265.1 m ≈ | 322.6 m ≈ | 103.1 m ≈ | 62.7 m ≈ | 114.2 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | 7.5 m | -303.2 m | -261.1 m | -21.7 m | -187.3 m | -76.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | -111.4 m | -247.6 m | -128.0 m | -196.6 m | -233.3 m | -177.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividends paid | 8.2 m | 8.1 m | 10.8 m | 11.5 m | 11.3 m | 11.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | 6.6 m | 83.1 m | 65.0 m | 91.5 m | 75.2 m | 75.6 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 37 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.1 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation38
- Returns55
- Quality61
- Balance sheet30
- Growth0
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.21 – 146.49 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)93.86 – 146.21 (Mid 114.05)WACC 9.0% · starting FCFF 198.3 m USD · terminal value share of EV 73%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 3.3%
- Peers: EV/EBITDA90.95 – 146.49 (Mid 127.95)6 companies used · median multiple 14.1x · quartiles 10.1x – 16.1xHTLD, JBHT, KNX, ODFL, SAIA, ULH
- Peers: P/E22.90 – 36.01 (Mid 23.69)7 companies used · median multiple 34.3x · quartiles 33.1x – 52.1xJBHT, KNX, LSTR, MRTN, ODFL, SAIA, SNDR
- Dividend discount (DDM)4.21 – 5.66 (Mid 4.82)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 37/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 1.7% | 50 (vs peers) | 10% |
| Net margin · Quality | 0.4% | 42 (vs peers) | 6% |
| FCF conversion · Quality | 1,147.7% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | -7.3% | 0 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | -39.3% | 0 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | 0.3x | 50 (vs peers) | 10% |
| Interest coverage · Balance sheet | 2.0x | 8 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 1.0x | 14 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 201.5x | 13 (vs peers) | 10% |
| EV/EBITDA · Valuation | 15.3x | 33 (vs peers) | 10% |
| FCF yield · Valuation | 6.0% | 75 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 1.7% | 24 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 5.8% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet30/100 · 3/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality61/100 · 3/3 factors with a value
- Returns55/100 · 2/2 factors with a value
- Valuation38/100 · 3/3 factors with a value
Memo
ARCBEST CORPORATION (ARCB). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 4.0 bn USD in 2025; YoY growth -4.0%; net margin 0.4%; ROE 1.3%; net debt/EBITDA 0.3x.
The estimated value range is 56.93–91.11 USD per share (median of 4 methods, agreement: low); assumptions are illustrative. Against the central value of 68.87 USD, the price of 139.29 USD leaves a potential of -50.6% (value / price − 1) and a margin of safety of -102.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 37/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 1,147.7%
- FCF yield: 6.0%
- Payout ratio (FCF): 5.8%
What contradicts it
- Revenue CAGR 3Y: -7.3%
- EPS CAGR 3Y: -39.3%
- Interest coverage: 2.0x
- Current ratio: 1.0x
- P/E (TTM): 201.5x
- Shareholder yield (distributions): 1.7%
- The price is above the estimated value range
- The valuation methods diverge
Versus the vertical median
Trucking (No Local) (SIC 4213) · same industry (4-digit SIC) · compared with 12 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ODFLOld Dominion Freight Line, Inc. | 36.8 bn | 34.2 | 24.8% | 19.4% | −5.5% | +31% / −9% |
| JBHTJ.b. Hunt Transport Services, Inc. | 20.9 bn | 31.6 | 18.8% | 5.1% | −0.7% | +29% / +21% |
| KNXKnight-Swift Transportation Holdings Inc. | 10.2 bn | 67.2 | 2.2% | 1.9% | +0.8% | +36% / +16% |
| SAIASaia, Inc. | 9.7 bn | 34.3 | 10.6% | 8.0% | +0.8% | +28% / −7% |
| LSTRLandstar System, Inc. | 5.1 bn | 32.0 | 18.7% | 3.0% | −1.6% | +16% / −12% |
| ARCBArcbest Corporation | 3.1 bn | 201.5 | 1.3% | 0.4% | −4.0% | +95% / +16% |
| WERNWerner Enterprises, Inc. | 1.8 bn | — | -3.3% | -1.4% | −1.8% | +15% / −27% |
| MRTNMarten Transport, Ltd. | 1.0 bn | 74.8 | 1.6% | 1.5% | −8.3% | +21% / −34% |
| ULHUniversal Logistics Holdings, Inc. | 862.8 m | — | -15.1% | -6.0% | −15.6% | +118% / +32% |
| HTLDHeartland Express Inc | 829.0 m | — | -2.8% | -3.0% | −23.1% | +36% / −20% |
| PAMTPamt Corp | 259.3 m | — | -18.9% | -7.1% | −16.3% | +38% / −34% |
| SNDRSchneider National, Inc. | — | 37.0 | 4.6% | 2.4% | +7.3% | +32% / +29% |
| CVLGCovenant Logistics Group, Inc. | — | 237.7 | 0.9% | 0.3% | +2.9% | +70% / +59% |
1- and 3-year price returns: for ARCB from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 78.55 Total return -43% · Per year -43% | 139.58 Total return 1% · Per year 1% | 211.20 Total return 52% · Per year 52% |
| 3 years | 62.37 Total return -55% · Per year -23% | 125.97 Total return -9% · Per year -3% | 211.20 Total return 53% · Per year 15% |
| 5 years | 49.53 Total return -63% · Per year -18% | 113.69 Total return -17% · Per year -4% | 211.20 Total return 54% · Per year 9% |
- Exit P/E± 31.49
- Net margin± 22.04
- Annual revenue growth± 19.91
- Annual dilution± 1.85
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
ArcBest is an integrated logistics company combining LTL trucking, truckload brokerage, managed transportation and international services under one offer. Consolidated revenues fell in 2025 to 4.0 bn USD, but in the second quarter of 2026 higher rates and volumes pointed to a recovery, while a restructuring plan aims at efficiency.
SWOT
Strengths
- The company has an extensive LTL network with assured capacity from owned and operated assets and a broad range of integrated services 1.
- Diversification between Asset-Based and Asset-Light gives flexibility against market cycle changes 1.
- The improvement in Asset-Based rates and profitability in the second quarter of 2026 shows management's execution capability 3.
Weaknesses
Opportunities
Risks
- Impairments and restructuringhigh
The company recorded significant impairments tied to the Panther brand and the Vaux system, and the restructuring may bring further costs 2. If the plan does not deliver the expected savings, margins could stay under pressure.
- Dependence on IT systemshigh
Interruptions or cyber attacks affecting IT systems and third-party applications could disrupt operations and reputation 1.
- Unionized labor costsmedium
The collective agreement includes wage increases and pension contributions that can be hard to forecast over the long term 1.
- Contracts without volume commitmentsmedium
The absence of long-term volume commitments exposes the company to lost volumes if customers switch providers or build their own capacity 1.
- Volatile Asset-Light resultsmedium
The Asset-Light segment posted operating losses in 2025 and in the first half of 2026, making profitability sensitive to rate cycles 12.
Investment thesis
What would need to be true (bull case)
- Revenue growth in the second quarter of 2026, a better Asset-Based operating ratio and a restructuring aimed at annual savings could support a return to profitability if rates stay favourable 23.
- The position of the LTL network combined with Asset-Light solutions could offer an edge over specialised competitors, especially for customers seeking a single provider 1.
- Investment in the ArcBest View digital platform could strengthen customer relationships and support longer-term demand 3.
What would break the thesis
- Consolidated revenues fell in 2025 and net income was sharply lower, showing the company's sensitivity to market cycles 1.
- Impairments and restructuring charges in 2026 point to difficulties in reorganising earlier investments, and promised savings could prove smaller than expected 2.
- Union and pension costs limit flexibility in the cost structure, while nonunion competitors may offer lower prices 1.
What to watch
- Delivery of the savings from the restructuring plan and cost trends in Asset-LightQ3 2026
- Trend in LTL rates and the non-GAAP operating ratio in Asset-BasedQ3 2026
- Customer adoption of the ArcBest View platform2027
- Negotiations on the next collective agreement and their impact on labor costs2028
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
ArcBest Corporation 1 is an integrated logistics company headquartered in Fort Smith, Arkansas, that uses technology and a full suite of solutions across multiple transport modes to meet supply chain needs. It operates through two reportable segments: Asset-Based, which comprises ABF Freight, and Asset-Light, which includes MoLo, Panther and other subsidiaries. It describes assured capacity including more than 40,000 owned and operated assets, and no single customer exceeded 3% of consolidated revenues in 2025 1.
The customer-led strategy described in the annual report focuses on profitable growth, cost efficiency and technology innovation, including the digital platform and the Vaux suite 1. In July 2026 the company announced a restructuring plan that unifies brands under ArcBest and discontinues the Vaux Freight Movement System 2.
Segments
Asset-Light (MoLo, Panther, Managed)
The Asset-Light segment includes MoLo, Panther and managed transportation solutions, operating without significant investment in revenue equipment or real estate 1. It generated about 34% of total revenues in 2025 1, and in the second quarter of 2026 revenue per day rose 28.3% although the segment posted an operating loss due to impairments 3.
Market context
The North American LTL market is dominated by nonunion carriers with lower cost structures, and barriers to entry are high because of the service center networks required 1. The truckload brokerage market is far more fragmented, with a large number of active authorities, which keeps competition focused on price and assured capacity 1. Conditions became more favourable in 2026 as capacity tightened and fuel prices rose, according to the second-quarter results 23.
Trends
- Recovering freight ratestailwind
Better rates and tighter capacity supported Asset-Light revenue in the second quarter of 2026, although the company said LTL pricing remains rational 23. If this trend holds, it could support margins in coming quarters.
- Unionized labor costsheadwind
The 2023 ABF NMFA provides annual wage increases and profit-sharing bonuses, and labor remains the largest cost component of Asset-Based operations 1. These obligations could limit margins if volumes do not grow enough.
- Volatile demand and trade tensionsmixed
The company noted uncertainty from geopolitical conflicts and tariff volatility affecting shipment volumes 2. The effect is mixed: tonnage rose, but daily shipment counts fell.
- Investment in technology and AImixed
ArcBest invests in digital platforms and advanced analytics, including the ArcBest View platform launched in 2026 3. Development costs and cybersecurity risks could however weigh on short-term results 1. The effect depends on customer adoption.
Competitive position
In LTL, ABF Freight competes with FedEx Freight, Old Dominion Freight Line, Saia, the LTL segment of Knight-Swift, TFI International and XPO, on the basis of price, service and flexibility of shipping options 1. In the Asset-Light segment, competition comes from integrated logistics and brokerage players such as C.H. Robinson, J.B. Hunt, Landstar and RXO 1.
The differentiators the company cites are service quality, technology capabilities, access to assured capacity and shipment transparency, and competitors with advanced systems may hold operational advantages 1. ArcBest's strategy combines LTL with Asset-Light solutions to offer an integrated proposition 1.
- FedEx FreightFDX
The LTL segment of FedEx Corporation, a direct competitor of ABF Freight in general freight 1.
- Old Dominion Freight LineODFL
An LTL carrier competing with ABF Freight on price and service 1.
- C.H. Robinson WorldwideCHRW
A competitor in the Asset-Light segment through its North American surface transportation offering 1.
- J.B. Hunt Transport ServicesJBHT
A competitor in integrated capacity solutions for shippers 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- ArcBest sees August tonnage growth accelerate; raises Q3 asset-light guideYahoo Finance — News · 09 Sept 2026 · EN
The latest news item in our archive is from 09 Sept 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report30 Oct 2026Other events · Financial statements and exhibits
- Current report08 Sept 2026Regulation FD disclosure
- Quarterly report30 Jul 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Current report24 Jul 2026Other events · Financial statements and exhibits
- Current report16 Jul 2026Exit or disposal costs · Material impairment · Other events · Financial statements and exhibits
- Current report04 Jun 2026Regulation FD disclosure
- Current report (amendment)18 May 2026Other events
- Current report18 May 2026Termination of a material agreement
- Current report15 May 2026Item 3.03 · Amendments to articles or bylaws · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / ArcBest Corporation · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / ArcBest Corporation · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / ArcBest Corporation · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.