Here are 1-3 brief analogies for ArcBest:

• Like **FedEx Freight** combined with the brokerage capabilities of **C.H. Robinson**.
• A diversified logistics provider akin to **XPO Logistics**.

• Less-Than-Truckload (LTL) Freight: Transportation of shipments that do not require an entire trailer, consolidating freight from multiple customers onto one truck.
• Full-Truckload (FTL) Freight: Solutions for businesses needing dedicated truckload capacity for shipments that fill an entire trailer.
• Expedited and Time-Critical Shipping: Urgent transportation services designed for time-sensitive or critical freight deliveries, often with guaranteed delivery times.
• Global Logistics Solutions: Comprehensive international freight forwarding services, including air, ocean, and ground transportation, customs brokerage, and cross-border solutions.
• Managed Transportation & Supply Chain Solutions: Strategic management and optimization of a client's entire transportation network and supply chain processes.
• Warehousing & Distribution Services: Storage, inventory management, and distribution solutions to support supply chain efficiency and product flow.

ArcBest (ARCB) sells primarily to other companies.

ArcBest is a diversified logistics and supply chain solutions company. Due to the nature of its business, which involves providing a wide array of shipping, transportation, and logistics services across various modes, ArcBest serves a highly fragmented and diverse customer base. Typically, no single customer accounts for a significant portion (e.g., greater than 10%) of their consolidated revenues, as is common for many large, asset-based and asset-light logistics providers. Therefore, there are no specific "major customer companies" that can be individually named and listed with symbols.

Instead, ArcBest's customers represent a broad spectrum of industries and company sizes. Its services are utilized by:

• Manufacturers: Companies that produce goods and need to transport raw materials to their facilities and finished products to distributors or retailers.
• Retailers and E-commerce Businesses: Companies that sell goods directly to consumers and require efficient logistics for inventory management, distribution to stores, and last-mile delivery for online orders.
• Wholesalers and Distributors: Businesses that act as intermediaries, storing and shipping products from manufacturers to retailers or other businesses.
• Various Commercial and Industrial Enterprises: A broad category encompassing businesses across sectors like automotive, technology, food and beverage, healthcare, and construction, all of whom require reliable transportation and supply chain management.

ArcBest prides itself on serving small, medium, and large businesses, offering tailored solutions to meet their specific freight and logistics needs.

Judy R. McReynolds, Chairman and Chief Executive Officer

Judy R. McReynolds has served as Chairman and Chief Executive Officer of ArcBest since 2016, and as CEO since 2010. With over 30 years of experience in transportation and logistics, including 28 years with ArcBest, she has led the company's transformation into a multibillion-dollar integrated logistics powerhouse. Her leadership has included expanding service offerings through five strategic acquisitions and introducing innovations such as Vaux™. Prior to her CEO role, McReynolds served as ArcBest's chief financial officer and held various senior roles in finance and accounting. She is also a director on the boards of OGE Energy Corp., First Bank Corp., and First National Bank.

Matt Beasley, Chief Financial Officer and Treasurer

Matt Beasley was appointed Chief Financial Officer and Treasurer of ArcBest, effective May 14, 2023. He joined ArcBest in early 2022 and brings over two decades of public company financial experience to his role. At ArcBest, he has been instrumental in the renegotiation of the company's revolving credit facility, long-term capital allocation planning, and the sale of FleetNet America. Before ArcBest, Beasley spent nearly 15 years at Enable Midstream Partners, a large, publicly traded energy infrastructure company, where he held executive-level roles in treasury, investor relations, financial planning and analysis, enterprise risk management, and project evaluation.

Seth Runser, President and CEO-elect

Seth Runser is the President and CEO-elect of ArcBest. He was named President in August 2024 and CEO-elect in July 2025. With over 17 years at ArcBest, Runser has a deep knowledge of logistics operations. As president of ABF Freight, an ArcBest company, he successfully guided the organization through the global pandemic, secured a five-year labor agreement, and led a transformation that resulted in eight quarters of record performance. His career at ArcBest began 18 years ago as a management trainee, and he has since held various leadership roles across operations, linehaul, and executive management.

Dennis L. Anderson II, Chief Innovation Officer

Dennis L. Anderson II assumed the role of Chief Innovation Officer in January 2025. He joined ArcBest in 2003 and previously served as Chief Strategy Officer from March 2023, Chief Customer Officer from April 2020 to March 2023, and Chief Customer Experience Officer from January 2017 to April 2020. Prior to his tenure at ArcBest, Anderson began his career at Walmart Logistics.

Michael R. Johns, Chief Legal Officer and Corporate Secretary

Michael R. Johns serves as Chief Legal Officer and Corporate Secretary for ArcBest. He joined ArcBest in 2007 as Vice President – General Counsel and Corporate Secretary. Throughout ArcBest's growth and transformation, Johns has directed the legal team, supporting significant mergers such as the company's 2012 acquisitions of Panther Premium Logistics® and Albert Companies Inc.

The key risks to ArcBest (ARCB) business operations are primarily centered around market dynamics, significant labor costs, and reliance on third-party transportation services.

1. Market Volatility, Economic Conditions, and Intense Competition: ArcBest operates in a highly competitive logistics industry that is significantly impacted by market volatility and general economic conditions. The company has faced challenges such as declining market rates, soft market conditions, and intense competition from numerous players, which have contributed to a decrease in net income and earnings per share. Economic downturns or shifts in market demand can lead to reduced freight transportation and logistics demand, directly affecting ArcBest's pricing power and overall profitability.
2. Labor Costs and Union Contracts: A substantial portion of ArcBest's operating expenses, particularly in its Asset-Based segment, is attributed to salaries, wages, and benefits, which constitute over 51% of its revenues in that segment. Recent labor union agreements, such as the Teamsters' national contract at ABF Freight, along with rising healthcare costs, impose increasing pressure on the company's margins and can impact long-term profitability if not effectively managed.
3. Dependence on Third-Party Transportation Services and Rising Costs: ArcBest relies on third-party services, including rail and other capacity providers, to meet its customers' transportation needs. Disruptions in these services, along with increased costs such as fuel surcharges or higher prices from third-party agents, can adversely affect the company's operating costs. If these increased costs cannot be passed on to customers, it could negatively impact revenues and profitability, and service disruptions could lead to business interruptions and loss of customer loyalty.

The clear emerging threats for ArcBest (ARCB) are:

• Autonomous Long-Haul Trucking: The ongoing development and testing of Level 4 autonomous trucks by companies such as Waymo Via, Aurora, and Kodiak Robotics represent a significant emerging threat. These technologies promise to reduce labor costs, increase asset utilization, and potentially improve safety in the long-haul segment of freight transportation. While ArcBest's core Less-Than-Truckload (LTL) network involves complex pick-up, sortation, and final-mile delivery, the long-haul linehaul portions of their network could be significantly impacted. Competitors or new entrants who successfully adopt and scale autonomous solutions could gain substantial cost advantages, disrupting traditional operational models that rely heavily on human drivers.

• Advanced AI-Driven Digital Logistics Platforms: The increasing sophistication of digital freight platforms, enhanced by artificial intelligence and machine learning, poses a threat by optimizing every aspect of the supply chain with greater efficiency and transparency. While digital freight brokerage has existed for some time, the accelerating pace of innovation in AI for dynamic pricing, predictive analytics, real-time capacity matching, and end-to-end supply chain visibility (e.g., advancements by major 3PLs or startups) could erode margins for traditional brokers and potentially challenge the efficiency of conventional LTL network management. These platforms can offer shippers faster, more flexible, and potentially cheaper options by automating processes and providing better data-driven insights, putting pressure on established human-intensive logistics operations.

ArcBest (ARCB) operates in several key addressable markets, primarily within the United States and North America. The estimated market sizes for its main products and services are as follows:

• Less-than-Truckload (LTL) Shipping: The U.S. LTL market is estimated at $114 billion in 2025 and is projected to reach $139.6 billion by 2030, growing at a CAGR of 4.13% from 2025 to 2030. The global less-than-truckload market was valued at $227 billion in 2024 and is projected to grow at a CAGR of 5.3% between 2025 and 2034. North America held approximately 54% of the global LTL market in 2024.
• Truckload Services (including Full Truckload and Brokerage): The U.S. road freight transport market, which includes full-truckload operations, is valued at $562.68 billion in 2025 and is projected to reach $674.49 billion by 2030, advancing at a 3.69% CAGR between 2025 and 2030. Full-truck-load operations accounted for 79.83% of this market in the U.S. in 2024. Globally, the freight trucking market size was valued at $2,739.24 billion in 2024 and is projected to grow to $3,698.58 billion by 2032, with North America holding a 37.22% share in 2024.
• Expedited Shipping: Expedited freight constitutes 23% of trucking revenue in the U.S. The broader U.S. road freight transport market, which includes expedited services, was valued at $538.16 billion in 2024 and is projected to reach $742.19 billion by 2032.
• Intermodal Transportation: The North American intermodal freight market has an estimated value of $51 billion. Globally, the intermodal market size was valued at $33.42 billion in 2024 and is expected to reach $82.61 billion by 2031, growing at a CAGR of 13.8% from 2025 to 2031.
• Warehousing and Distribution: The U.S. warehousing market generated revenues of $232.1 billion in 2024 and is expected to reach $343.2 billion by 2030, with a CAGR of 6.7% from 2025 to 2030. The North American warehousing market generated $335.1 billion in revenue in 2024 and is projected to reach $507.6 billion by 2030, growing at a CAGR of 7.2% from 2025 to 2030. The global warehousing and distribution logistics market was valued at $13.5 trillion in 2023.
• Supply Chain Optimization/Managed Transportation/Logistics Management: The U.S. freight and logistics market, which encompasses these services, is estimated at $1,381.09 billion in 2025 and is expected to reach $1,667.74 billion by 2030, growing at a CAGR of 3.84%.
• Household Goods Moving (U-Pack): null
• International Freight Transportation: null

1. Growth in Asset-Based (Less-Than-Truckload - LTL) Business: ArcBest anticipates revenue growth through the continued onboarding of new core LTL business, driven by targeted sales campaigns and ongoing network investments and service excellence initiatives. The Asset-Based segment demonstrated a 2% per-day revenue increase in the third quarter of 2025.

2. Expansion of Asset-Light Segment and Managed Solutions: The company expects significant revenue growth from its Asset-Light segment, particularly through its Managed Solutions offerings. This segment has shown strong performance, with daily managed solutions shipments growing at an annual rate of 44% since their launch, boasting over 90% customer retention and a sales pipeline exceeding $1 billion. ArcBest is also strategically shifting towards Small and Medium Business (SMB) truckload customers, which now represent 40% of revenue, up from 20% in 2021, as SMB freight generates 60% higher profit per load.

3. Pricing Discipline and Optimization: ArcBest maintains a rational pricing environment and focuses on leveraging pricing and operational efficiency improvements to enhance margins. In Q3 2025, customer contract renewals averaged a 4.5% increase. The company utilizes proprietary tools, including an AI-powered cost calculator and a dynamic pricing engine, which contribute to its revenue per hundredweight being 1.6 times higher and revenue per shipment 1.5 times higher than the LTL industry average.

4. Strategic Investments in Technology and Innovation: ArcBest is investing in advanced technology, including AI and digital platforms, to drive efficiency and improve customer experiences. These strategic investments involve initiatives like city route optimization, which is projected to deliver $13 million in annual savings. The company also launched several AI-driven initiatives and is preparing for the launch of "ArcBest View" in 2026. These technological advancements are expected to indirectly support revenue growth by improving service and competitive positioning.

5. Strengthening Customer Relationships and Integrated Solutions: ArcBest's focus on strong customer relationships and providing integrated logistics solutions is a key driver. Approximately 80% of its revenue comes from customers with relationships lasting over 10 years, and multi-solution customers generate three times the revenue and profit. This highlights the company's ability to grow revenue by deepening engagement and expanding the range of services utilized by existing customers.