ArcBest Clocks 47% Revenue Growth In Q2

ArcBest Corp ARCB reported second-quarter FY22 revenue growth of 46.8% year-over-year to $1.39 billion, beating the consensus of $1.37 billion.
Revenue growth reflected increasing demand for the broad offering of transportation and logistics services.
Adjusted EPS improved to $4.30 from $2.03 in 2Q21, beating the consensus of $3.95.
The operating income increased to $137.35 million from $74.3 million a year ago, and the margin expanded by 203 bps to 9.9%.
Sales by segments: Asset-Based $802.62 million (+22.9% Y/Y), and Asset-Light $631.79 million (+91.3% Y/Y).
Asset-Based total tonnage per day increased by 3.7%, including a rise of 0.9% in LTL-rated weight per shipment. Total shipments per day increased by 2%.
Total billed revenue per hundredweight increased 17.7% YY, positively impacted by higher fuel surcharges.
Adjusted EBITDA increased by 69.6% Y/Y to $173.71 million, and margin expanded by 168 bps to 12.5%.
ArcBest's cash provided by operating activities year-to-date of $184.62 million, compared to $145.9 million a year ago. It held cash and equivalents of $203.9 million as of June 30, 2022.
Judy R. McReynolds, ArcBest chairman, president, and CEO, commented, "As our customers' supply chains become even more complex and economic pressures increase, our strategic focus on technology, innovation and the development of our people positions us to thrive in all environments."
Price Action: ARCB shares are trading lower by 1.78% at $86.12 during the premarket session on Friday.

Momentum12.49

Growth29.29

Quality87.12

Value83.84

Short

Medium

Long

Earnings Calendar