ARCBEST CORPORATION (NASDAQ:ARCB) Files An 8-K Regulation FD DisclosureITEM 7.01 — REGULATION FD DISCLOSURE
ArcBestSM (Nasdaq: ARCB) is providing the following update on the most recent information related to its second quarter 2017 financial results and business trends. ArcBest’s operating segments include “Asset-Based” which represents ABF Freight System, Inc., “ArcBest” and “FleetNet”. The ArcBest and FleetNet reportable segments, combined, represent our Asset-Light operations.
For the second quarter of 2017 through the end of May, compared to the same period last year, ArcBest’s financial metrics and business trends are as follows:
Asset-Based
· Daily billed revenue increased 7 percent.
· Total tonnage per day increased approximately 1 percent.
· Daily shipment counts increased approximately 5 percent. Average weight per shipment continues to be below the same period last year.
· Total Rev/Cwt increased approximately 6 percent and was positively affected by changes in freight profile, account mix and higher fuel surcharges.
· On a historical basis, the average sequential change in ArcBest’s asset-based operating ratio in the second quarter, versus the first quarter, has been an improvement of approximately 500 to 600 basis points.
Asset-Light
· On a combined basis, revenue at ArcBest’s asset-light businesses increased in a range of 6% to 7%. This increase was influenced by strong growth in expedite revenue, and dedicated truckload revenue in this year associated with an acquisition made in September 2016. FleetNet continues to experience revenue declines compared to last year due to fewer customer events.