The positive inflection in less-than-truckload (LTL) metrics during August continued with ArcBest Corp. (NASDAQ: ARCB). In a Wednesday filing, the carrier reported that total tonnage per day increased 3.5% compared to August 2019, with LTL tonnage increasing by a high single-digit percentage.
During August, ArcBest's asset-based business, which includes LTL operations, reported a 1.5% year-over-year decline in shipments, which was more than offset by heavier loads as weight per shipment increased 5%. The increased weights along with lower fuel surcharges led to a 3.5% decline in revenue per hundredweight, or yield. Pricing on LTL shipments increased mid-single digits excluding fuel surcharges.

Total asset-based revenue per day for the month was flat year-over-year, an improvement from the 6% decline recorded in July. That month saw a 4% decline in total tonnage (LTL tonnage "increased slightly") and flat yields for LTL shipments excluding fuel. The segment recorded double-digit declines in spot truckload (TL) tonnage during July and August.