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 first 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 first quarter of 2017 through the end of February, compared to the same period last year, ArcBest’s financial metrics and business trends are as follows:
Asset-Based
· Daily billed revenue increased 4 percent.
· Total tonnage per day decreased approximately 1 percent with LTL tonnage up slightly.
· Shipment counts increased 6 percent. Combined with the decrease in total tonnage, average weight per shipment decreased on a year-over-year basis.
· 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 first quarter, versus the fourth quarter, has been an increase in an approximate range of 350 to 400 basis points.
Asset-Light
· On a combined basis, revenue at ArcBest’s Asset-Light businesses increased approximately 3%. This increase was positively impacted by acquisitions made late last year, partially offset by reductions in FleetNet’s February 2017 revenue versus the prior year due to changes in account mix.