LTL carriers see strong trends flow through second quarter
April and May bring best metrics in past decade 2 minutes read Q2 comps surge on year-ago COVID lockdowns (Photo: Jim Allen/FreightWaves)
A couple of less-than-truckload carriers provided updates through the first two months of the second quarter on Wednesday. The year-over-year advances were very large and reflected easy comparisons to 2020, which experienced a sharp falloff as parts of the economy were knocked offline amid expanding COVID-related shutdowns.
ArcBest Corp. (NASDAQ: ARCB) reported a 40% year-over-year increase in revenue per day in its asset-based segment, which includes LTL operations, during May. The company previously disclosed that April revenue was up 47% year-over-year. Tonnage per day was up 29% in April and 21% in May with revenue per hundredweight, inclusive of fuel surcharges, up 15% and 16%, respectively.
(Kat Wilson)
ArcBest Corp. of Fort Smith has invested $1 million in the Peak Innovation Center in Fort Smith.
The career and technology center will open in the fall as part of the school district s Vision 2023 Capital Improvement Program. The center will be located in the former Hutcheson Shoes building at the intersection of Zero Street and Painter Lane in east Fort Smith; the community room of the center will be named after ArcBest. We are excited to make this investment in tomorrow s workforce and in our community, ArcBest CEO Judy McReynolds said. We have a long history of giving back, and it s a big part of our culture and who we are at ArcBest. I m very proud we are supporting the Peak Innovation Center and the career pathway opportunities it will provide students.
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ArcBest Corp. (NASDAQ: ARCB) reported record first-quarter results Tuesday. Adjusted earnings per share were $1.01 compared to the consensus estimate of 58 cents per share and the year-ago result of 36 cents per share.
Total revenue increased 18.2% year-over-year to $829 million and the company recorded a 95.3% consolidated operating ratio, a 290-basis point improvement. We re pleased to report our best-ever operating income for the first quarter as well as increased revenue and profitability in what is historically the most challenging quarter of the year, stated Judy McReynolds, chairman, president and CEO. These strong results reflect our ability to create solutions to support our customers as they continue to face supply chain challenges associated with their rebound from the COVID-19 pandemic.
Operator
Greetings, and welcome to the ArcBest First Quarter 2021 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded, Tuesday, May 4, 2021.
I would now like to turn the conference over to David Humphrey, Vice President of Investor Relations. Please go ahead.
David Humphrey
Vice President, Investor Relations
Welcome to the ArcBest first quarter 2021 earnings conference call. Our presentation this morning will be done by Judy McReynolds, Chairman, President, Chief Executive Officer of ArcBest; and David Cobb, Chief Financial Officer of ArcBest. We thank you for joining us today. In order to help you better understand ArcBest and its results, some forward-looking statements could be made during this call. As we all know, forward-looking statements by their very nature are subject to uncertainties and risk. For more complete discussion of factors that could affect the company s future results, please refer to the forward-looking sta
Send ArcBest Corp. of Fort Smith reports first-quarter profit of $23.4 million, up from $1.9 million in the same quarter last year, beating analyst expectations for earnings per share.
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