ArcBest (ARCB)
Market Price (7/6/2026): $139.63 | Market Cap: $3.1 BilSector: Industrials | Industry: Cargo Ground Transportation
ArcBest (ARCB)
Market Price (7/6/2026): $139.63Market Cap: $3.1 BilSector: IndustrialsIndustry: Cargo Ground Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 49% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Future of Freight, and E-commerce & DTC Adoption. Themes include Last-Mile Delivery, Show more. | Weak multi-year price returns2Y Excs Rtn is -2.1%, 3Y Excs Rtn is -20% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 34x, P/EPrice/Earnings or Price/(Net Income) is 56x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.9% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 85% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.1% Key risksARCB key risks include [1] significant labor costs driven by its union contracts, Show more. |
| Low stock price volatilityVol 12M is 49% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Future of Freight, and E-commerce & DTC Adoption. Themes include Last-Mile Delivery, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -2.1%, 3Y Excs Rtn is -20% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 34x, P/EPrice/Earnings or Price/(Net Income) is 56x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.9% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 85% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.1% |
| Key risksARCB key risks include [1] significant labor costs driven by its union contracts, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 7/1/2026
ArcBest (ARCB) stock has gained about 40% since 3/31/2026 because of the following key factors:
1. ArcBest reported stronger-than-anticipated financial results for fiscal Q1 2026 (ended March 31, 2026). The company announced non-GAAP diluted earnings per share (EPS) of $0.32, surpassing the consensus estimate of $0.29. Consolidated revenue for the quarter totaled $998.8 million, an increase of 3% year-over-year, which also exceeded the consensus estimate.
2. The company provided a significantly improved operating outlook for fiscal Q2 2026. ArcBest projected its Asset-Based non-GAAP operating ratio to improve sequentially by 600-700 basis points in fiscal Q2 2026, which is nearly double the typical seasonal improvement of approximately 350 basis points. This positive guidance was driven by strong quarter-to-date performance, including an approximate 10% year-over-year increase in Asset-Based billed revenue per day and roughly 28% year-over-year growth in Asset-Light daily revenue.
Show more
ArcBest (ARCB) stock has gained about 40% since 3/31/2026 because of the following key factors:
1. ArcBest reported stronger-than-anticipated financial results for fiscal Q1 2026 (ended March 31, 2026). The company announced non-GAAP diluted earnings per share (EPS) of $0.32, surpassing the consensus estimate of $0.29. Consolidated revenue for the quarter totaled $998.8 million, an increase of 3% year-over-year, which also exceeded the consensus estimate.
2. The company provided a significantly improved operating outlook for fiscal Q2 2026. ArcBest projected its Asset-Based non-GAAP operating ratio to improve sequentially by 600-700 basis points in fiscal Q2 2026, which is nearly double the typical seasonal improvement of approximately 350 basis points. This positive guidance was driven by strong quarter-to-date performance, including an approximate 10% year-over-year increase in Asset-Based billed revenue per day and roughly 28% year-over-year growth in Asset-Light daily revenue.
Show more
Updated on 7/1/2026
ArcBest (ARCB) stock has gained about 40% since 3/31/2026 because of the following key factors:
1. ArcBest reported stronger-than-anticipated financial results for fiscal Q1 2026 (ended March 31, 2026). The company announced non-GAAP diluted earnings per share (EPS) of $0.32, surpassing the consensus estimate of $0.29. Consolidated revenue for the quarter totaled $998.8 million, an increase of 3% year-over-year, which also exceeded the consensus estimate.
2. The company provided a significantly improved operating outlook for fiscal Q2 2026. ArcBest projected its Asset-Based non-GAAP operating ratio to improve sequentially by 600-700 basis points in fiscal Q2 2026, which is nearly double the typical seasonal improvement of approximately 350 basis points. This positive guidance was driven by strong quarter-to-date performance, including an approximate 10% year-over-year increase in Asset-Based billed revenue per day and roughly 28% year-over-year growth in Asset-Light daily revenue.
3. Favorable freight market dynamics and disciplined pricing contributed to the gains. ArcBest benefited from a tightening truckload capacity environment as some carriers exited the industry, alongside manufacturing indicators moving into expansion. This macroeconomic backdrop created a more supportive pricing environment, evidenced by customer contract renewals and deferred pricing agreements averaging a 6.3% increase during fiscal Q1 2026.
4. Enhanced operational efficiencies and technology-driven cost savings bolstered profitability. The company continued to realize substantial cost reductions through its continuous improvement training, generating $32 million in annualized savings. Additionally, its AI-enabled city route optimization program delivered $15 million in annualized cost savings by optimizing pickup and delivery routes and improving asset utilization.
5. Analysts reacted positively to the company's performance and outlook, leading to raised price targets. Following ArcBest's fiscal Q1 2026 results and its optimistic fiscal Q2 2026 guidance, several analysts increased their price targets. Notable revisions included BofA Securities raising its target to $160 from $138, Wells Fargo increasing its target to $150 from $130, JP Morgan adjusting its target to $147 from $117, and Goldman Sachs elevating its target to $165 from $117.
Show less
ArcBest (ARCB) stock has gained about 40% since 3/31/2026 because of the following key factors:
1. ArcBest reported stronger-than-anticipated financial results for fiscal Q1 2026 (ended March 31, 2026). The company announced non-GAAP diluted earnings per share (EPS) of $0.32, surpassing the consensus estimate of $0.29. Consolidated revenue for the quarter totaled $998.8 million, an increase of 3% year-over-year, which also exceeded the consensus estimate.
2. The company provided a significantly improved operating outlook for fiscal Q2 2026. ArcBest projected its Asset-Based non-GAAP operating ratio to improve sequentially by 600-700 basis points in fiscal Q2 2026, which is nearly double the typical seasonal improvement of approximately 350 basis points. This positive guidance was driven by strong quarter-to-date performance, including an approximate 10% year-over-year increase in Asset-Based billed revenue per day and roughly 28% year-over-year growth in Asset-Light daily revenue.
3. Favorable freight market dynamics and disciplined pricing contributed to the gains. ArcBest benefited from a tightening truckload capacity environment as some carriers exited the industry, alongside manufacturing indicators moving into expansion. This macroeconomic backdrop created a more supportive pricing environment, evidenced by customer contract renewals and deferred pricing agreements averaging a 6.3% increase during fiscal Q1 2026.
4. Enhanced operational efficiencies and technology-driven cost savings bolstered profitability. The company continued to realize substantial cost reductions through its continuous improvement training, generating $32 million in annualized savings. Additionally, its AI-enabled city route optimization program delivered $15 million in annualized cost savings by optimizing pickup and delivery routes and improving asset utilization.
5. Analysts reacted positively to the company's performance and outlook, leading to raised price targets. Following ArcBest's fiscal Q1 2026 results and its optimistic fiscal Q2 2026 guidance, several analysts increased their price targets. Notable revisions included BofA Securities raising its target to $160 from $138, Wells Fargo increasing its target to $150 from $130, JP Morgan adjusting its target to $147 from $117, and Goldman Sachs elevating its target to $165 from $117.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 42.1% change in ARCB stock from 3/31/2026 to 7/5/2026 was primarily driven by a 51.7% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7052026 | Change |
|---|---|---|---|
| Stock Price ($) | 98.26 | 139.67 | 42.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,010 | 4,042 | 0.8% |
| Net Income Margin (%) | 1.5% | 1.4% | -7.7% |
| P/E Multiple | 36.8 | 55.8 | 51.7% |
| Shares Outstanding (Mil) | 22 | 22 | 0.7% |
| Cumulative Contribution | 42.1% |
Market Drivers
3/31/2026 to 7/5/2026| Return | Correlation | |
|---|---|---|
| ARCB | 42.1% | |
| Market (SPY) | 14.5% | 24.5% |
| Sector (XLI) | 13.7% | 35.9% |
Fundamental Drivers
The 88.7% change in ARCB stock from 12/31/2025 to 7/5/2026 was primarily driven by a 222.5% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7052026 | Change |
|---|---|---|---|
| Stock Price ($) | 74.04 | 139.67 | 88.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,039 | 4,042 | 0.1% |
| Net Income Margin (%) | 2.4% | 1.4% | -42.5% |
| P/E Multiple | 17.3 | 55.8 | 222.5% |
| Shares Outstanding (Mil) | 23 | 22 | 1.7% |
| Cumulative Contribution | 88.7% |
Market Drivers
12/31/2025 to 7/5/2026| Return | Correlation | |
|---|---|---|
| ARCB | 88.7% | |
| Market (SPY) | 9.5% | 35.0% |
| Sector (XLI) | 18.9% | 51.9% |
Fundamental Drivers
The 82.4% change in ARCB stock from 6/30/2025 to 7/5/2026 was primarily driven by a 463.3% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7052026 | Change |
|---|---|---|---|
| Stock Price ($) | 76.58 | 139.67 | 82.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,110 | 4,042 | -1.7% |
| Net Income Margin (%) | 4.4% | 1.4% | -68.3% |
| P/E Multiple | 9.9 | 55.8 | 463.3% |
| Shares Outstanding (Mil) | 23 | 22 | 3.9% |
| Cumulative Contribution | 82.4% |
Market Drivers
6/30/2025 to 7/5/2026| Return | Correlation | |
|---|---|---|
| ARCB | 82.4% | |
| Market (SPY) | 21.6% | 35.4% |
| Sector (XLI) | 26.0% | 50.2% |
Fundamental Drivers
The 43.5% change in ARCB stock from 6/30/2023 to 7/5/2026 was primarily driven by a 607.7% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7052026 | Change |
|---|---|---|---|
| Stock Price ($) | 97.33 | 139.67 | 43.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,867 | 4,042 | -17.0% |
| Net Income Margin (%) | 6.2% | 1.4% | -77.5% |
| P/E Multiple | 7.9 | 55.8 | 607.7% |
| Shares Outstanding (Mil) | 24 | 22 | 8.7% |
| Cumulative Contribution | 43.5% |
Market Drivers
6/30/2023 to 7/5/2026| Return | Correlation | |
|---|---|---|
| ARCB | 43.5% | |
| Market (SPY) | 74.0% | 47.8% |
| Sector (XLI) | 78.5% | 56.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ARCB Return | 182% | -41% | 72% | -22% | -20% | 89% | 237% |
| Peers Return | 52% | -23% | 67% | 10% | -9% | 41% | 180% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| ARCB Win Rate | 92% | 42% | 67% | 42% | 50% | 71% | |
| Peers Win Rate | 68% | 35% | 60% | 50% | 52% | 66% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| ARCB Max Drawdown | -41% | -44% | -26% | -38% | -44% | -25% | |
| Peers Max Drawdown | -17% | -37% | -26% | -25% | -40% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ODFL, XPO, SAIA, KNX, SNDR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)
How Low Can It Go
| Event | ARCB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.8% | -18.8% |
| % Gain to Breakeven | 60.8% | 23.1% |
| Time to Breakeven | 261 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.2% | -9.5% |
| % Gain to Breakeven | 27.0% | 10.5% |
| Time to Breakeven | 6 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -14.9% | -6.7% |
| % Gain to Breakeven | 17.5% | 7.1% |
| Time to Breakeven | 29 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -40.6% | -24.5% |
| % Gain to Breakeven | 68.3% | 32.4% |
| Time to Breakeven | 427 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.2% | -33.7% |
| % Gain to Breakeven | 54.3% | 50.9% |
| Time to Breakeven | 65 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.9% | -19.2% |
| % Gain to Breakeven | 46.9% | 23.8% |
| Time to Breakeven | 745 days | 105 days |
In The Past
ArcBest's stock fell -37.8% during the 2025 US Tariff Shock. Such a loss loss requires a 60.8% gain to breakeven.
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Asset Allocation
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| Event | ARCB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.8% | -18.8% |
| % Gain to Breakeven | 60.8% | 23.1% |
| Time to Breakeven | 261 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.2% | -9.5% |
| % Gain to Breakeven | 27.0% | 10.5% |
| Time to Breakeven | 6 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -40.6% | -24.5% |
| % Gain to Breakeven | 68.3% | 32.4% |
| Time to Breakeven | 427 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.2% | -33.7% |
| % Gain to Breakeven | 54.3% | 50.9% |
| Time to Breakeven | 65 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.9% | -19.2% |
| % Gain to Breakeven | 46.9% | 23.8% |
| Time to Breakeven | 745 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -45.9% | -12.2% |
| % Gain to Breakeven | 84.8% | 13.9% |
| Time to Breakeven | 308 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -50.4% | -6.8% |
| % Gain to Breakeven | 101.7% | 7.3% |
| Time to Breakeven | 657 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -41.6% | -17.9% |
| % Gain to Breakeven | 71.3% | 21.8% |
| Time to Breakeven | 693 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -41.9% | -15.4% |
| % Gain to Breakeven | 72.3% | 18.2% |
| Time to Breakeven | 1228 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -28.0% | -53.4% |
| % Gain to Breakeven | 38.9% | 114.4% |
| Time to Breakeven | 42 days | 1085 days |
In The Past
ArcBest's stock fell -37.8% during the 2025 US Tariff Shock. Such a loss loss requires a 60.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About ArcBest (ARCB)
ArcBest Corporation (ARCB) is a comprehensive freight transportation and integrated logistics provider. At its core, the company specializes in less-than-truckload (LTL) freight services, transporting a wide array of general commodities such as food, textiles, chemicals, metal products, and automotive parts. Operating primarily within the United States and extending services to Mexico, ArcBest’s Asset-Based segment efficiently handles smaller, consolidated shipments for diverse industrial and manufacturing customers.
Beyond its foundational LTL operations, ArcBest offers an extensive suite of logistics solutions designed to meet varied customer needs. This includes expedited freight services for time-critical shipments, premium logistics utilizing specialized equipment, and international freight transportation via air, ocean, and ground. The company also acts as a third-party transportation broker, sourcing full truckload capacity (dry van, refrigerated, flatbed, intermodal) and providing warehousing, distribution, and managed transportation services. Its customer base for these integrated offerings spans commercial and government clients, as well as businesses requiring specialized supply chain optimization.
Further diversifying its portfolio, ArcBest provides vehicle maintenance and roadside repair solutions for commercial and private fleets through its FleetNet segment. Additionally, the company offers specialized services like final mile delivery, product launches, retail logistics, and trade show shipping, catering to specific business requirements for precise and timely delivery and support, including "do-it-yourself" moving services for consumers.
AI Analysis | Feedback
- It's like the business-to-business side of FedEx or UPS, but specializing in larger, less-than-truckload freight and a full suite of logistics and supply chain services.
- Think of it as a combination of Old Dominion Freight Line (a major less-than-truckload trucking company) and a broad logistics provider like XPO Logistics.
AI Analysis | Feedback
- Less-than-Truckload (LTL) Freight Transportation: Provides transportation of general commodities, including services to Mexico.
- Expedited Freight Transportation: Offers fast, time-sensitive freight services for commercial and government customers.
- International Freight Transportation: Delivers global shipping solutions via air, ocean, and ground.
- Transportation Brokerage Services: Sourcing various capacity solutions such as dry van, intermodal, and temperature-controlled shipping.
- Warehousing and Distribution Services: Provides storage and distribution solutions for various goods.
- Managed Transportation Services: Offers comprehensive management of a client's transportation network and needs.
- Moving Services: Provides 'do-it-yourself' moving solutions for consumers.
- Specialized Logistics Services: Includes offerings like final mile, time critical, retail logistics, supply chain optimization, and trade show shipping.
- Vehicle Maintenance Management: Delivers roadside repair and vehicle maintenance services for commercial and private fleets.
AI Analysis | Feedback
ArcBest Corporation (ARCB) primarily provides services to other businesses (B2B) and government entities (B2G).
The provided company description does not list specific names of its major customer companies or their symbols.
However, based on the services offered, ArcBest serves a wide range of commercial clients across various industries, including:
- Companies requiring less-than-truckload (LTL) freight transportation for a diverse array of commodities such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and other manufactured products. This segment primarily serves manufacturers, retailers, and distributors.
- Commercial and government customers needing expedite freight, premium logistics, and international freight transportation services (air, ocean, ground).
- Businesses seeking third-party transportation brokerage services for various capacity solutions including dry van, intermodal, temperature-controlled, flatbed, and specialized equipment. This also extends to warehousing, distribution, managed transportation, retail logistics, and supply chain optimization.
- Commercial and private fleets requiring roadside repair solutions and vehicle maintenance management services.
- Trucking companies in Mexico for freight transportation arrangements.
Additionally, ArcBest provides moving services directly to 'do-it-yourself' consumers, though this appears to be a smaller component of its overall business model.
AI Analysis | Feedback
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AI Analysis | Feedback
Seth Runser
President and Chief Executive Officer
Seth Runser became President and Chief Executive Officer of ArcBest effective January 1, 2026, and also serves on the company's Board of Directors. He joined ArcBest in 2007 as an ABF Freight management trainee and has since progressed through various operational and leadership roles, including President of ABF Freight from 2021 and President of ArcBest from August 2024. His leadership emphasizes enhancing service performance, driving growth and efficiency, and promoting innovation, championing initiatives like City Route Optimization and the Vaux™ technology suite.
Matt Beasley
Chief Financial Officer
Matt Beasley was appointed Chief Financial Officer and Treasurer of ArcBest, effective May 14, 2023. He brings over two decades of public company finance experience to his role, focusing on financial strategy, cash management, and capital allocation. Prior to joining ArcBest in early 2022, Beasley spent nearly 15 years at Enable Midstream Partners and its predecessor companies, where he held executive-level roles in treasury, investor relations, enterprise risk management, and financial planning and analysis. He was Enable's senior finance leader when Energy Transfer acquired the company in December 2021. At ArcBest, he played an instrumental role in renegotiating the company's revolving credit facility, long-term capital allocation planning, and the sale of FleetNet America.
Dennis L. Anderson II
Chief Innovation Officer
Dennis L. Anderson II serves as the Chief Innovation Officer at ArcBest. He has over 20 years of experience in logistics. Anderson joined ArcBest in 2003, holding positions in the company's pricing department and leading the ArcBest strategy team. He previously served as chief customer experience officer and was promoted to Chief Innovation Officer in September 2024, succeeding Michael Newcity.
J. Brent Hagy
Chief Legal Officer and Corporate Secretary
J. Brent Hagy holds the position of Chief Legal Officer and Corporate Secretary at ArcBest, where he is responsible for leading the company's legal strategy.
Erin K. Gattis
Chief Human Resources Officer
Erin K. Gattis is the Chief Human Resources Officer of ArcBest. She was named to this role in July 2016 and has over 20 years of experience.
AI Analysis | Feedback
ArcBest (ARCB) faces several key risks to its business operations.
The most significant risk is **macroeconomic volatility and a soft freight market**, which directly impacts demand and pricing. This includes factors such as persistent inflation, weaker demand for freight transportation, softer consumption and production, and an oversupply of truckload capacity. Such conditions lead to a soft rate environment, reduced shipment volumes, and downward pressure on revenue and profitability for both its Asset-Based and Asset-Light segments.
Secondly, ArcBest is exposed to **mounting operating costs**, primarily driven by labor and fuel expenses. Labor costs, particularly due to new Teamsters union contracts and rising wage and benefit obligations, constitute a significant portion of operating expenses and can pressure profit margins. Additionally, volatile and elevated fuel prices increase transportation costs, further impacting profitability and limiting the company's pricing flexibility.
Lastly, **intense competition** within the fragmented logistics industry poses a continuous risk. ArcBest operates in a highly competitive landscape with numerous rivals in both its less-than-truckload (LTL) and asset-light logistics segments. This competitive pressure can lead to intense pricing battles, challenges in maintaining market share, and the necessity for ongoing significant investments in technology to remain competitive.
AI Analysis | Feedback
- The emergence and advancement of **autonomous trucking technology** poses a significant threat to ArcBest's Asset-Based segment. As self-driving trucks become more sophisticated, reliable, and commercially viable, they could drastically alter the cost structure of long-haul and regional freight transportation by reducing reliance on human drivers. This could lead to increased operational efficiency, potentially lower labor costs for early adopters, and a shift in competitive dynamics that could challenge traditional asset-based carriers like ArcBest if they cannot adapt or invest in similar technologies at a comparable pace.
- The rapid development and adoption of **digital freight brokerage platforms and AI-powered logistics optimization tools** present a clear emerging threat to ArcBest's ArcBest segment (which includes third-party transportation brokerage). Tech-first platforms are leveraging advanced algorithms, machine learning, and data analytics to connect shippers with carriers more efficiently, transparently, and often at competitive prices. This digitization can disintermediate traditional brokers, compress margins, and challenge established players to invest heavily in similar technology to maintain market share and relevance in an increasingly automated and data-driven logistics landscape.
AI Analysis | Feedback
ArcBest Corporation operates in several significant addressable markets within the freight transportation and integrated logistics sectors.
Asset-Based Segment
- Less-Than-Truckload (LTL) Services: The global less-than-truckload (LTL) market was estimated at USD 216.68 billion in 2023 and is projected to reach USD 342.09 billion by 2030. Another estimate valued the global LTL market at USD 227 billion in 2024, with projections to reach USD 380 billion by 2034. The U.S. Less-Than-Truckload market size was USD 98.0 billion in 2024. It is estimated to be USD 118.68 billion in 2026 and is projected to reach USD 144.97 billion by 2031.
ArcBest Segment
- Expedite Freight Transportation: A distinct, standalone market size for "expedite freight transportation" was not readily available. This service is typically integrated as a premium offering within broader freight transportation and third-party logistics markets.
- International Freight Transportation (Air, Ocean, and Ground):
- Air Freight: The global air cargo market size was valued at USD 185.3 billion in 2023 and is projected to grow to USD 288.8 billion by 2032. Other estimates indicate the global air freight market size was USD 257.44 billion in 2023. The U.S. air cargo market accounted for over 70% of the revenue share in North America in 2023 and is expected to exceed USD 50 billion by 2032.
- Ocean Freight: The global ocean freight forwarding market size was valued at USD 75.4 billion in 2023 and is estimated to reach USD 108.8 billion by 2032. Another source reported the global ocean freight market size at USD 74.7 billion in 2023, projected to reach USD 105.7 billion by 2034. The global maritime freight transport market size was valued at $371.9 billion in 2023, and is projected to reach $552.1 billion by 2033.
- Third-Party Transportation Brokerage (3PL): The global 3PL market was valued at USD 1.19 trillion in 2024 and is projected to reach USD 2.57 trillion by 2034. The U.S. 3PL market size was approximately USD 201.6 billion in 2024. It is expected to increase from USD 219.62 billion in 2025 to USD 272.74 billion by 2031.
- Warehousing and Distribution Services: The global warehousing market size was estimated at USD 1.01 trillion in 2023 and is projected to reach USD 1.73 trillion by 2030. North America dominated the warehousing market with a 31.0% share in 2023. The U.S. warehousing and distribution logistics market was valued at $59.2 billion in 2023.
- Managed Transportation Services: Specific market sizing for "managed transportation services" as a standalone market was not explicitly found. These services are often considered a component of broader third-party logistics (3PL) offerings.
- Moving Services: The global moving services market is expected to be worth around USD 147.7 billion by 2033, growing from USD 81.73 billion in 2023. The U.S. moving services industry market size was USD 21.3 billion in 2023. North America held a dominant market position, capturing over 40% share and generating USD 32.7 billion in revenue in 2023.
- Final Mile/Last Mile Delivery: The global last mile delivery market size was valued at USD 146.81 billion in 2023 and is projected to reach USD 340.56 billion by 2032. The U.S. last mile delivery market generated a revenue of USD 37.743.3 million (USD 37.74 billion) in 2023 and is expected to reach USD 62.419.8 million (USD 62.42 billion) by 2030.
FleetNet Segment
- Roadside Repair Solutions and Vehicle Maintenance Management: A specific, standalone market size for "roadside repair solutions and vehicle maintenance management for commercial fleets" was not explicitly identified in the search results. These services are typically part of broader commercial fleet management or automotive aftermarket industries.
AI Analysis | Feedback
ArcBest (ARCB) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic initiatives and a potential recovery in key market sectors.
Here are 5 expected drivers of ArcBest's future revenue growth:
* Expansion of Asset-Light Operations and Strategic Acquisitions: ArcBest anticipates continued revenue growth from its asset-light operations, which now contribute approximately half of its total revenue. The acquisition of Molo Solutions is projected to add around $600 million in annual revenue. The company's managed solutions offerings have also demonstrated significant growth, with shipments increasing at an annual rate of 44% since their inception.
* Strategic Focus on Small and Mid-Sized Businesses (SMBs) and Core Less-Than-Truckload (LTL) Business: ArcBest is actively expanding its customer base by targeting small and mid-sized businesses (SMBs), which generate 60% higher profit per load. The company aims to increase its SMB freight mix to 60% from 40% in 2025. Additionally, ArcBest is focused on onboarding new core LTL business through targeted commercial initiatives, contributing to volume growth in its asset-based segment.
* Sustained Pricing Discipline and General Rate Increases (GRIs): The company has demonstrated a commitment to pricing discipline, evidenced by an 11% year-over-year increase in revenue per shipment in its truckload performance and a 4.5% average increase on deferred contract price renewals in Q3 2025. ArcBest also announced a 5.9% General Rate Increase in Q2 2025, indicating an ongoing strategy to optimize pricing for revenue enhancement.
* Investment in Technology and Innovation: ArcBest is leveraging technology and innovation, including the deployment of AI automation and predictive analytics, to enhance efficiency and service quality. These initiatives have already improved productivity by 33% and are expected to support future growth by improving customer experience and operational effectiveness. The company also highlights its groundbreaking Vaux™ technology as a driver for future growth.
* Recovery in Manufacturing and Housing Markets: Analysts anticipate that a recovery in the manufacturing and housing markets will serve as a significant external driver for ArcBest's revenue growth. Improved conditions in these sectors are expected to alleviate downward pressure on truckload spot rates and lead to a more favorable freight mix, directly benefiting the company's transportation services.
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ArcBest (ARCB) has demonstrated a focused approach to capital allocation over the last three to five years, emphasizing share repurchases, strategic acquisitions, and significant investments in its operations.
Share Repurchases
- ArcBest returned $103 million to shareholders in 2023 through its share repurchase and dividend programs, including repurchases of 930,754 shares of common stock for an aggregate cost of $91.5 million.
- In 2025, ArcBest returned over $86 million to shareholders through share repurchases and dividends.
- The company's board of directors increased the common stock repurchase program authorization to $125 million on February 5, 2024, and this authorization was reaffirmed in September 2025. As of January 28, 2026, $100.8 million of this authorization remained.
Outbound Investments
- ArcBest completed the acquisition of MoLo Solutions, LLC in November 2021, which significantly contributed to its Asset-Light segment's revenue.
Capital Expenditures
- Total net capital expenditures, including equipment financed, were $245 million in 2023, with $144 million allocated to revenue equipment, primarily for the Asset-Based operation. Delayed projects from 2023, mainly for new city tractors and trailers, were expected to occur in 2024.
- In 2022, net capital expenditures, including equipment financed, totaled $211 million, with $93 million for revenue equipment, mainly for the Asset-Based operation.
- For 2024, net capital expenditures were anticipated to be in the range of $325 million to $375 million, including $155 million for revenue equipment and $130 million for real estate. In 2025, total net capital expenditures, including equipment financed, were $198 million, encompassing $133 million for revenue equipment and $31 million for real estate, net of $25 million in property sales.
- ArcBest expects 2026 net capital expenditures to be in the range of $150 million to $170 million, reflecting fewer real estate purchases and remodels, and lower spending on revenue equipment.
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 173.00 |
| Mkt Cap | 11.8 |
| Rev LTM | 5,564 |
| Op Inc LTM | 313 |
| FCF LTM | 359 |
| FCF 3Y Avg | 78 |
| CFO LTM | 833 |
| CFO 3Y Avg | 751 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.7% |
| Rev Chg 3Y Avg | -1.2% |
| Rev Chg Q | 1.9% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Inc Chg LTM | -10.3% |
| Op Inc Chg 3Y Avg | -12.7% |
| Op Mgn LTM | 6.4% |
| Op Mgn 3Y Avg | 6.0% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 14.9% |
| CFO/Rev 3Y Avg | 12.6% |
| FCF/Rev LTM | 5.8% |
| FCF/Rev 3Y Avg | 1.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Asset-Based | 2,735 | 2,750 | 2,871 | 3,011 | 2,574 |
| Asset-Light | 1,407 | 1,553 | 1,681 | 2,139 | |
| Other and eliminations | -132 | -124 | -124 | -121 | -148 |
| ArcBest | 1,301 | ||||
| FleetNet | 254 | ||||
| Total | 4,010 | 4,179 | 4,427 | 5,029 | 3,980 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Asset-Based | 172 | 243 | 253 | 381 | 261 |
| Asset-Light | -15 | 58 | -12 | 53 | |
| Other and eliminations | -66 | -57 | -68 | -39 | -31 |
| ArcBest | 46 | ||||
| FleetNet | 5 | ||||
| Total | 90 | 244 | 173 | 395 | 281 |
| $ Mil | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|
| Asset-Based | 791 | ||||
| ArcBest | 330 | ||||
| Other and eliminations | 167 | 227 | 204 | 200 | |
| FleetNet | 22 | ||||
| Emergency and Preventative Maintenance | 22 | 24 | 22 | 18 | |
| Freight Transportation | 694 | 622 | 531 | 556 | |
| Household Goods Moving Services | 29 | 22 | 21 | 22 | |
| Premium Logistics | 216 | 218 | |||
| Transportation Management | 75 | 38 | |||
| Domestic & Global Transportation Management | 28 | ||||
| Premium Logistics and Expedited Freight Services | 217 | 222 | |||
| Other revenues and eliminations | 206 | ||||
| Truck Brokerage and Management | 10 | ||||
| Total | 1,310 | 1,263 | 1,128 | 1,017 | 1,034 |
Price Behavior
Price Behavior
| Market Price | $139.67 | |
| Market Cap ($ Bil) | 3.1 | |
| First Trading Date | 05/13/1992 | |
| Distance from 52W High | -19.4% | |
| 50 Days | 200 Days | |
| DMA Price | $136.32 | $97.12 |
| DMA Trend | up | up |
| Distance from DMA | 2.5% | 43.8% |
| 3M | 1YR | |
| Volatility | 50.8% | 49.3% |
| Downside Capture | 142.31 | 147.88 |
| Upside Capture | 197.89 | 178.96 |
| Correlation (SPY) | 25.4% | 35.9% |
ARCB Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.27 | 0.75 | 0.99 | 1.31 | 1.40 | 1.56 |
| Up Beta | -2.45 | -0.56 | 0.54 | 0.58 | 1.09 | 1.81 |
| Down Beta | -0.23 | -0.60 | -0.32 | 1.29 | 1.30 | 1.24 |
| Up Capture | 163% | 202% | 232% | 293% | 267% | 378% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 12 | 23 | 39 | 71 | 131 | 363 |
| Down Capture | 87% | 146% | 124% | 100% | 122% | 110% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 9 | 18 | 24 | 54 | 121 | 388 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ARCB | |
|---|---|---|---|---|
| ARCB | 71.8% | 49.3% | 1.26 | - |
| Sector ETF (XLI) | 25.7% | 16.5% | 1.20 | 50.4% |
| Equity (SPY) | 21.7% | 12.5% | 1.29 | 35.8% |
| Gold (GLD) | 23.1% | 27.7% | 0.73 | 3.2% |
| Commodities (DBC) | 21.3% | 18.6% | 0.90 | -19.5% |
| Real Estate (VNQ) | 13.6% | 13.8% | 0.68 | 36.3% |
| Bitcoin (BTCUSD) | -42.0% | 42.7% | -1.15 | 14.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ARCB | |
|---|---|---|---|---|
| ARCB | 19.7% | 49.9% | 0.54 | - |
| Sector ETF (XLI) | 14.1% | 17.6% | 0.63 | 58.9% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 53.8% |
| Gold (GLD) | 17.9% | 18.3% | 0.79 | 1.4% |
| Commodities (DBC) | 6.9% | 19.5% | 0.25 | 9.3% |
| Real Estate (VNQ) | 3.1% | 18.9% | 0.06 | 40.2% |
| Bitcoin (BTCUSD) | 12.2% | 53.8% | 0.41 | 22.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ARCB | |
|---|---|---|---|---|
| ARCB | 24.9% | 49.8% | 0.64 | - |
| Sector ETF (XLI) | 14.6% | 20.1% | 0.64 | 52.9% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 48.8% |
| Gold (GLD) | 12.1% | 16.1% | 0.61 | -1.4% |
| Commodities (DBC) | 5.7% | 18.0% | 0.25 | 15.7% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 33.7% |
| Bitcoin (BTCUSD) | 59.0% | 66.2% | 0.99 | 13.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/28/2026 | 0.8% | -8.7% | 5.3% |
| 1/30/2026 | 5.8% | 28.5% | 25.0% |
| 11/5/2025 | -0.9% | -8.0% | -0.1% |
| 7/30/2025 | -12.6% | -8.8% | -10.2% |
| 4/29/2025 | -4.0% | 3.1% | 9.2% |
| 1/31/2025 | 1.2% | -0.5% | -21.0% |
| 11/1/2024 | -4.0% | 8.3% | 6.9% |
| 8/2/2024 | -13.3% | -12.9% | -12.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 15 |
| # Negative | 10 | 12 | 9 |
| Median Positive | 5.4% | 12.9% | 7.8% |
| Median Negative | -4.0% | -4.4% | -10.2% |
| Max Positive | 16.2% | 33.4% | 41.9% |
| Max Negative | -14.3% | -12.9% | -21.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/28/2026 | 0.8% | -8.7% | 5.3% |
| 1/30/2026 | 5.8% | 28.5% | 25.0% |
| 11/5/2025 | -0.9% | -8.0% | -0.1% |
| 7/30/2025 | -12.6% | -8.8% | -10.2% |
| 4/29/2025 | -4.0% | 3.1% | 9.2% |
| 1/31/2025 | 1.2% | -0.5% | -21.0% |
| 11/1/2024 | -4.0% | 8.3% | 6.9% |
| 8/2/2024 | -13.3% | -12.9% | -12.5% |
| 4/30/2024 | -14.3% | -8.9% | -21.5% |
| 2/6/2024 | 8.2% | 12.8% | 7.8% |
| 10/27/2023 | 16.2% | 33.4% | 37.9% |
| 7/28/2023 | 0.5% | -0.9% | -12.5% |
| 4/28/2023 | 5.0% | -4.6% | -3.1% |
| 2/3/2023 | -3.8% | 13.0% | 13.0% |
| 11/1/2022 | 1.0% | -4.2% | 4.5% |
| 7/29/2022 | 1.0% | -1.3% | -0.3% |
| 4/29/2022 | -5.6% | 3.9% | -0.7% |
| 2/1/2022 | 5.9% | -3.5% | 7.7% |
| 11/2/2021 | 9.2% | 15.7% | 3.2% |
| 8/2/2021 | 1.9% | 14.5% | 16.5% |
| 5/4/2021 | 5.7% | 18.2% | 4.6% |
| 2/2/2021 | -0.6% | 6.6% | 41.9% |
| 11/3/2020 | 6.5% | 12.5% | 37.0% |
| 7/29/2020 | -3.5% | -2.4% | 3.9% |
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 15 |
| # Negative | 10 | 12 | 9 |
| Median Positive | 5.4% | 12.9% | 7.8% |
| Median Negative | -4.0% | -4.4% | -10.2% |
| Max Positive | 16.2% | 33.4% | 41.9% |
| Max Negative | -14.3% | -12.9% | -21.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/08/2019 | 10-Q |
Insider Activity
Updated 5/7/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hogan, Michael P | Direct | Buy | 5092025 | 59.00 | 3,418 | 201,662 | 1,927,176 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hogan, Michael P | Direct | Buy | 5092025 | 59.00 | 3,418 | 201,662 | 1,927,176 | Form |
ArcBest — Investor Video Playlist
Products & Services
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CFMOTO USA Customer Testimonial | ArcBest
Leadership
Judy McReynolds and Seth Runser on leadership transition, company outlook | ArcBest
Investor / Analyst
1Q25 Earnings Recap | ArcBest
Leadership
Judy McReynolds Retirement Announcement | ArcBest
Investor / Analyst
Q2 2024 Earnings Insights | ArcBest
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Cargo Ground Transportation Resources |
| Transport Topics |
| Commercial Carrier Journal (CCJ) |
| FreightWaves |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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