- Second quarter 2016 revenue of $676.6 million and net income of $10.2 million, or $0.39 per diluted share.
- Second quarter ABF Freight® operating results were impacted by lower daily revenue combined with costs associated with the handling of smaller average sized shipments.
- ArcBest’s asset-light logistics revenue equaled 30 percent of total revenue.
FORT SMITH Arkansas, July 29, 2016 – ArcBest Corporation® (Nasdaq: ARCB) today reported second quarter 2016 net income of $10.2 million, or $0.39 per diluted share, compared to second quarter 2015 net income of $20.0 million, or $0.74 per diluted share. The inconsistent economic operating environment combined with a surplus of transportation capacity continues to impact available business levels and operating margins at ABF Freight and at each of ArcBest’s asset-light logistics companies. In the midst of this challenging period, ArcBest continues to successfully build on the strategic opportunities it has to gain new business, strengthen shipper relationships and offer additional services to existing customers. The ArcBest companies are focused on delivering superior service levels while working together to offer comprehensive logistics solutions that meet customer needs at a fair price.
Excluding certain items in both periods, ArcBest’s non-GAAP net income was $10.0 million, or $0.38 per diluted share, in second quarter 2016 compared to earnings of $20.2 million, or $0.75 per diluted share, last year.
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