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  1. #1
    Old School... and proud!!

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    Default ArcBest Third Quarter 2021 Results

    Successful growth strategy driving superior performance
    Advancing strategic vision to better serve customers and further enhance value for shareholders
    - Third quarter 2021 revenue of $1.0 billion increased 27.9 percent over third quarter 2020.
    - Net income improved to $63.7 million, or $2.38 per diluted share. On a non-GAAP basis, third quarter 2021 net income was $69.2 million, or $2.59 per diluted share.
    - Highest quarterly revenue and operating income in ArcBest's history.


    FORT SMITH, Ark., Nov. 2, 2021 /PRNewswire/ -- ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, today reported third quarter 2021 revenue of $1.0 billion compared to third quarter 2020 revenue of $795.0 million. Each of ArcBest's operating segments achieved double-digit percentage revenue growth over the prior year. ArcBest's third quarter 2021 operating income was $87.6 million and net income was $63.7 million, or $2.38 per diluted share, compared to third quarter 2020 operating income of $39.8 million and net income of $29.4 million, or $1.11 per diluted share.

    Third Quarter Results of Operations Comparisons

    Asset-Based

    Third Quarter 2021 Versus Third Quarter 2020

    • Revenue of $681.2 million compared to $561.9 million, a per-day increase of 21.2 percent.
    • Total tonnage per day increase of 2.4 percent, including an increase of 2.5 percent in LTL-rated weight per shipment.
    • Total shipments per day increase of 0.5 percent.
    • Total billed revenue per hundredweight increased 17.1 percent and was positively impacted by higher fuel surcharges. Revenue per hundredweight on LTL-rated business, excluding fuel surcharge, improved by a percentage in the double digits.
    Operating income of $83.6 million and an operating ratio of 87.7 percent compared to the prior-year quarter operating income of $36.6 million and an operating ratio of 93.5 percent. On a non-GAAP basis, operating income of $90.5 million and an operating ratio of 86.7 percent compared to the prior-year quarter operating income of $42.8 million and an operating ratio of 92.4 percent.

    Strong shipper demand and a solid pricing environment coupled with ArcBest's deep understanding of customer needs resulted in the third record-setting quarter in a row this year for ArcBest's Asset-Based business. Year-over-year tonnage and shipment growth was the result of an emphasis on allocating network resources to serving core LTL customers. Shippers have continued to benefit from ArcBest's assets and facilities throughout its Asset-Based network being used to help solve supply chain challenges. Third quarter 2021 operating income more than doubled compared to the prior-year period and reflected a healthy sequential increase compared to the recent second quarter.

    Asset-Light‡

    Third Quarter 2021 Versus Third Quarter 2020

    • Revenue of $371.7 million compared to $267.8 million, a per-day increase of 38.8 percent.
    • Operating income of $11.5 million compared to the prior-year quarter operating income of $5.8 million.
    • Adjusted earnings before interest, taxes, depreciation and amortization („Adjusted EBITDA”) of $14.2 million compared to the prior-year quarter Adjusted EBITDA of $8.6 million, as detailed in the attached non-GAAP reconciliation tables.

    Positive momentum in the ArcBest segment continued in the third quarter with record-setting quarterly revenue and operating income. The ability to positively respond to strong customer demand with innovative solutions contributed to solid revenue growth in the ArcBest segment. Increased demand for expedited and truckload logistics services resulted in higher shipment levels and higher average revenue per shipment. Customers' needs for managed transportation solutions also contributed to third quarter revenue growth and improved operating results. The increase in operating income reflects the benefits of higher revenue, partially offset by increased personnel costs in response to shipment growth and continued investments in technology.

    Increased business volume combined with higher revenue per event contributed to record quarterly revenue for the FleetNet segment and an increase in operating income over the prior year's third quarter.

    https://www.prnewswire.com/news-rele...301413615.html


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  3. #2
    Old School... and proud!!

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    Default Re: ArcBest Third Quarter 2021 Results


  4. #3
    I Am Rocking Now

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    Default Re: ArcBest Third Quarter 2021 Results

    Phenomenal numbers,incredible numbers,with a sky-rocketing stock price to boot...with a 87.7 OR...

    https://finance.yahoo.com/quote/ARCB/news/

    When's the last time a 'Union Carrier' had a OR in the 80s?...Hell,when's the last time ANY freight carrier besides OD had a OR in the 80s?...probably back in the 80s...lol...Wall St. loves them some ArcBest...Let's see how this all plays out!!!!

    https://www.entrepreneur.com/article/394664

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  6. #4
    Old School... and proud!!

    Join Date
    Jul 2009
    Local Union
    745
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    ABF
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    Default Re: ArcBest Third Quarter 2021 Results

    Quote Originally Posted by wizard View Post
    Phenomenal numbers,incredible numbers,with a sky-rocketing stock price to boot...with a 87.7 OR...

    https://finance.yahoo.com/quote/ARCB/news/

    When's the last time a 'Union Carrier' had a OR in the 80s?...Hell,when's the last time ANY freight carrier besides OD had a OR in the 80s?...probably back in the 80s...lol...Wall St. loves them some ArcBest...Let's see how this all plays out!!!!

    https://www.entrepreneur.com/article/394664
    I don't ever have many good things to say about Judy... but one thing that's undeniable in my eyes is that she's as smart as a whip and one hell of a CEO from the company's viewpoint. It's just much different from the union side of things... but that isn't her job... that's the job of our union representatives...which IMO... failed to properly represent it's members in the past decade. Opinions vary with many who believe as I do... some say it was that Judy just outsmarted and outmaneuvered our substandard leadership and others think that many in our leadership sold us out. I... myself... think it was a combination of both. But... that's all history now and the fact of the matter is that she was exceptional at her job and came out on top to which I steadfastly will admit... so way to go Judy!!! Just don't get used to my compliments because my perspective will always be coming from what I believe to be in the best interest of the Rank and File... not the company... that's Judy's job... and not the leadership because contrary to today's popular belief... the IBT leadership is not the Teamsters union... the Rank and File is... the IBT is there to represent us... not control us!

 

 

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