ARCB ARCBEST CORP /DE/
Price Chart
Executive Summary
ArcBest issued a mid-quarter business update via Item 7.01, reporting preliminary May 2026 metrics. Asset-Based segment showed billed revenue per day up 9% YoY and tonnage per day up 5%, though shipments per day declined 4%. Asset-Light segment revenue per day surged 32% YoY. Management expects Q2 Asset-Based non-GAAP operating ratio to improve by 600-700 bps sequentially (vs. historical ~350 bps), and Asset-Light non-GAAP operating income of $3M-$5M. The update is directionally positive, driven by pricing discipline and fuel surcharge tailwinds, but shipment volume contraction tempers the outlook.
Actionable Insight
The sequential operating ratio improvement guidance (600-700 bps vs. historical 350 bps) is a strong positive signal for Asset-Based margins. Monitor Q2 full results for confirmation of margin expansion and whether shipment volume decline stabilizes. Asset-Light revenue growth remains robust but high purchased transportation costs (87% of revenue) limit margin leverage.
Key Facts
- Asset-Based billed revenue per day +9% YoY in May 2026
- Asset-Based tonnage per day +5% YoY in May 2026
- Asset-Based shipments per day -4% YoY in May 2026
- Asset-Based revenue per shipment +14% YoY in May 2026
- Asset-Based revenue per hundredweight +5% YoY in May 2026 (flat ex-fuel surcharge)
- Asset-Light revenue per day +32% YoY in May 2026
- Asset-Light shipments per day +14% YoY in May 2026
- Asset-Light revenue per shipment +15% YoY in May 2026
- Asset-Light purchased transportation expense as % of revenue: 87% in May 2026
- Q2 2026 Asset-Based non-GAAP operating ratio expected to improve 600-700 bps sequentially
- Q2 2026 Asset-Light non-GAAP operating income expected $3M-$5M (excl. ~$2M purchase accounting amortization)
Financial Impact
Asset-Based revenue growth of ~10% QTD, Asset-Light revenue growth of ~28% QTD; Asset-Light operating income guided to $3M-$5M for Q2
Risk Factors
- Shipment volume declining 4% YoY in Asset-Based suggests potential demand softness
- Revenue per hundredweight growth entirely driven by fuel surcharge — core pricing flat
- Asset-Light operating income guidance of $3M-$5M is modest relative to revenue scale
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-070593 |
| Document: 0001104659-26-070593-index-headers.html | 0001104659-26-070593 |
| Document: 0001104659-26-070593-index.html | 0001104659-26-070593 |
| Document: 0001104659-26-070593.txt | 0001104659-26-070593 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 4, 2026
10d ago
|
8-K
| $150.00 awaiting T+5 | awaiting T+5 | — | $173.04 (+15.36%) |
|
May 18, 2026
27d ago
|
8-K
| $118.70 $133.95 | ▲ +12.84% | ▲ +10.60% | $173.04 (+45.78%) |
|
Apr 24, 2026
7w ago
|
8-K
| $122.38 $127.57 | ▲ +4.24% | ▲ +3.33% | $173.04 (+41.40%) |
|
Mar 13, 2026
13w ago
|
DEFA14A
| $84.79 $87.58 | ▲ +3.29% | ▲ +5.41% | $173.04 (+104.09%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access