Slide 1: Earnings Presentation 2Q26
Earnings Presentation 2Q26
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements and information in this presentation may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of
Slide 3: At a Glance
AT A GLANCE NASDAQ: ARCB We are a leading integrated logistics company that leverages technology and a full suite of solutions to meet customers’ supply chain needs 1923 ~$400B 99% 14K Founded Addressable United States Employees Market* Coverage ~250 40K+ Top 20 30K+ Campuses and Owned U.S. Truckloa
Slide 4: Motto, Mission, Vision, Strategy and Values
MOT T O: “We’ll find a way” M I S S I O N V I S I O N S T R A T E G Y To connect and To be the leading To drive long-term positively impact the logistics partner and value by delivering a world through innovator, working with premium experience solving logistics customers to build and growing inform
Slide 5: ArcBest Is a Strategic Partner to Customers
ARCBEST IS A STRATEGIC PARTNER TO CUSTOMERS CUSTOMERS PARTNERING WANT WITH CUSTOMERS AND NEED TO PROVIDE ArcBest Actionable Supply Chain Insights Flexibility Efficiency Seamlessly Connects Operational Efficiencies Customers & Resiliency Reliability Capacity Cost Savings EARNINGS PRESENTATION | 2Q26
Slide 6: ArcBest Solves Customer Needs Through Multiple Solutions
ARCBEST SOLVES CUSTOMER NEEDS THROUGH MULTIPLE SOLUTIONS Managed Less-than- Truckload Expedite and Truckload Other Services Customers use an average of 4 services EARNINGS PRESENTATION | 2Q26 6
Slide 7: Customer-Led Strategy Yields Results
CUSTOMER-LED STRATEGY YIELDS RESULTS 70% Asset-Light >3x Revenue 5% Higher Customer + Asset-Based & Profit Retention About 70% of customers who use Revenue & Profit per Retention rates are 5 Asset-Light services also utilize account is over 3X higher percentage points higher on Asset-Based services
Slide 8: Managed Solutions
MANAGED SOLUTIONS ArcBest is a 3PL with Assets Managed feeds Customer Benefits ~40% CAGR ‘17-26 LTL, Truckload and Expedite • Supply Chain Optimization • Network Design and Pool Distribution Sourcing • Vendor Consolidations • Strong network of LTL, • Technology Enabled truckload & rail Integrations
Slide 9: 2028 Financial Targets
2028 FINANCIAL TARGETS Margin Expansion and Growth 87%-90% Strong EPS Growth $12-$15 Asset-Based Non-GAAP Operating Ratio (1) $40M-$70M Non-GAAP Diluted EPS (1)(2) Asset-Light Non-GAAP Operating Income (1) $400M-$500M Annual Operating Cash Flow 16%-19% Non-GAAP Return on Capital Employed (1) 1) See
Slide 10: Strategic Pillars
STRATEGIC PILLARS ✓ Go-to-Market Approach Accelerating ✓ Maintaining Yield Discipline PROFITABLE GROWTH ✓ Expanding Quote Pool ✓ Enhancing Customer Service and Visibility Tools Increasing ✓ Network Capacity EFFICIENCY ✓ Fleet Optimization ✓ Continuous Improvement Training Driving INNOVATION ✓ Techno
Slide 11: Go-to-Market Approach
ACCELERATING PROFITABLE GROWTH GO-TO-MARKET APPROACH Growing Core LTL Business Commercial Team Accelerating Managed Opportunities Growing Truckload Solutions Business & Optimizing Mix Marketing Sales Yield Design Enhancing Expedite Growth Making it easier for customers to choose and grow with ArcBes
Slide 12: Maintaining Yield Discipline Through Centralized Pricing Strategy
ACCELERATING MAINTAINING YIELD DISCIPLINE PROFITABLE GROWTH THROUGH CENTRALIZED PRICING STRATEGY Cost Market Value How much will it What is the What additional value cost to handle? market price? are we providing? Revenue/CWT Revenue/Shipment Strongest $50 $550 LTL Pricing Metrics Among ~1.7x ~1.6x
Slide 13: Expanding Quote Pool Drives Profitable Growth
ACCELERATING PROFITABLE GROWTH EXPANDING QUOTE POOL DRIVES PROFITABLE GROWTH ArcBest View TMS Providers Profitable Selectively fill capacity to Growth 3PLs optimize yield and profitability NMFC Changes EARNINGS PRESENTATION | 2Q26 13
Slide 14: Dynamic Price Improves as Quotes Grow
ACCELERATING DYNAMIC PRICE IMPROVES PROFITABLE GROWTH AS QUOTES GROW Daily Dynamic Quotes 300K More quotes, more choices 250K 200K 150K ~75% More Rev/Ship Drives additional 100K Since 2020 incremental profit 50K K 2020 2021 2022 2023 2024 2025 2026 EARNINGS PRESENTATION | 2Q26 14
Slide 15: Network Capacity
INCREASING EFFICIENCY NETWORK CAPACITY ENABLES: Strategically Adding Capacity ~8% Net Door Expansion Since 2021 Revenue Growth 9,604 9,627 9,499 105 23 IMPROVES: 9,254 245 299 8,955 9,604 Efficiency 8,820 135 9,254 9,499 8,955 Productivity 8,820 8,820 2021 2022 2023 2024 2025 2026 YTD Service Existi
Slide 16: Fleet Optimization
INCREASING EFFICIENCY FLEET OPTIMIZATION Disciplined investments in our fleet FLEET INVESTMENT FLEET EFFICIENCY SAFETY SUSTAINABILITY • Annual reinvestment • Maintaining young • Piloting speed • Testing electric cycle and modern fleet limiter and control vehicles technology • Optimized total cost •
Slide 17: ArcBest AI Approach
DRIVING INNOVATION ARCBEST AI APPROACH Delivering tangible productivity gains and enabling growth AI supports our strategy and is We apply multiple AI techniques integrated into current initiatives aligned to each use case Governance ensures responsible, We equip employees with secure secure, and ra
Slide 18: Technology and AI Portfolio
DRIVING INNOVATION TECHNOLOGY AND AI PORTFOLIO Asset-Based Asset-Light Interaction Optimization Optimization Optimization Digital Platforms Optimize the asset-based Provide efficiency & margin Provide customers with Create self-service tools for network improvements better, quicker information Custo
Slide 19: Unified platform for shipment execution, visibility and insights
Unified platform for shipment execution, visibility and insights • Quote, book and manage shipments through a single interface • Provides real-time visibility across ArcBest logistics solutions • Delivers integrated reporting on cost and service performance • Aligns workflows with how customers mana
Slide 20: Key Metrics: ArcBest Consolidated
2Q26 vs 2Q25 Key $1.2B 16% $2.38 75% Metrics ArcBest Consolidated Revenue Non-GAAP Earnings per Diluted Share(1) ARCBEST CONSOLIDATED $73.9M 64% Asset-Based $21M Asset-Light $5M Non-GAAP Operating Income (1) EARNINGS PRESENTATION | 2Q26 1) See non-GAAP reconciliations in the Additional Information s
Slide 21: Key Metrics: Asset-Based
2Q26 vs 2Q25 $72.3M $784M 10% 42% Key Per Day Non-GAAP Operating Income(1) Metrics Asset-Based Revenue 90.8% 200BPS Improvement Non-GAAP Operating Ratio(1) ASSET-BASED Tonnage Billed Revenue Billed per Day 5% per Shipment 13% Rev/CWT 4% Shipments Weight per Average Increase on per Day 3% Shipment 8%
Slide 22: Operating Ratio Bridge
OPERATING RATIO BRIDGE Asset-Based KEY DRIVERS: Non-GAAP Operating Ratio YoY Bridge 2Q25 to 2Q26 Higher Revenue per Shipment 100 Increased weight per shipment 98 96 Higher revenue per hundredweight 94 92 5.8% increase on contract 90 renewals during 2Q 88 86 84 82 Higher Cost per Shipment 80 Increase
Slide 23: Labor Planning Aligns Headcount and Shipments
LABOR PLANNING ALIGNS HEADCOUNT AND SHIPMENTS Technology and Training Drives Productivity Gains 8,500 22,000 8,000 21,000 7,500 20,000 Linehaul and DSY Headcount Shipments/Day 7,000 19,000 6,500 18,000 6,000 17,000 5,500 16,000 5,000 15,000 3Q21 4Q19 2Q20 4Q22 4Q20 1Q21 4Q21 1Q22 3Q23 4Q23 3Q20 1Q23
Slide 24: July Preliminary: Asset-Based
July 2026 vs July 2025 JULY PRELIMINARY Key Tonnage per Day 8% Billed Revenue per Shipment 10% Billed 1% Metrics Rev/CWT Shipments Weight per Revenue per Day 3% Shipment 11% per Day 7% ASSET-BASED EARNINGS PRESENTATION | 2Q26 24
Slide 25: Key Metrics: Asset-Light
2Q26 vs 2Q25 Key $439M 28% Per Day $6.3M 458% Metrics Asset-Light Revenue Non-GAAP Operating Income(1) ASSET-LIGHT Shipments Revenue per Shipments per per Day 15% Shipment 12% Employee per Day 35% Purchased Transportation as % of Revenue: 86% EARNINGS PRESENTATION | 2Q26 1) See non-GAAP reconciliati
Slide 26: July Preliminary: Asset-Light
July 2026 vs July 2025 JULY PRELIMINARY Key Shipments Revenue per Revenue Metrics per Day 7% Shipment 19% per Day 28% Purchased Transportation as % of Revenue: 86% ASSET-LIGHT EARNINGS PRESENTATION | 2Q26 26
Slide 27: Asset-Based Annual Operating Ratio
ASSET-BASED ANNUAL OPERATING RATIO 95% 94.5% 94.2% 94.3% 94.0% 90% 90.4% 91.2% 88.8% 85% 86.4% 80% 75% 2019 2020 2021 2022 2023 2024 2025 2Q26 TTM FREIGHT RECESSION COVID-19 IMPACTS FREIGHT RECESSION Union Pension Impact on Operating Ratio EARNINGS PRESENTATION | 2Q26 See non-GAAP reconciliations in
Slide 28: Asset-Based Annual Margin
ASSET-BASED ANNUAL MARGIN $650 2,000 Revenue per shipment Reflects disciplined pricing, $600 1,800 changes in freight-profile and fuel $550 Impacted by weight per shipment Revenue and Cost 1,600 $500 Cost per shipment Weight Reflects union labor contract and $450 1,400 other inflationary increases $
Slide 29: Asset-Light Annual Operating Income
ASSET-LIGHT ANNUAL OPERATING INCOME $100 28M $80 $IMPROVEMENT $60 $40 $20 $0 IN OPERATING RESULTS -$20 compared to 2024 -$40 2019 2020 2021 2022 2023 2024 2025 2Q26 TTM (Non-GAAP) FREIGHT RECESSION COVID-19 IMPACTS FREIGHT RECESSION EARNINGS PRESENTATION | 2Q26 See non-GAAP reconciliations in the Ad
Slide 30: Balanced Approach to Capital Allocation
BALANCED APPROACH TO CAPITAL ALLOCATION Operating Cash Flow Sustain & Prioritizing high-return, organic investments in real estate, equipment, Drive Growth and innovative projects $471 $324 $322 Return Returning cash to shareholders through $286 $282 share repurchases and dividends Capital $229 $206
Slide 31: Capital Intensity Decreasing
CAPITAL INTENSITY DECREASING KEY DRIVERS: Normalization following ‘22-‘25 Capital Expenditures % of Revenue strategic investments Asset-Light strategy requires 5% minimal capital 4% Efficiency gains from tech, training, process improvements Below Rigorous capital 5% investment evaluation 2019 - 2021
Slide 32: Return of Capital
RETURN OF CAPITAL Increasing Returns to Shareholders Through Dividends and Share Repurchases 600 $125M Share repurchase authorization 500 ~$500M 400 300 Returned to shareholders since 2019 200 STRONG 100 OUTLOOK 0 Generates significant free cash 2019 2020 2021 2022 2023 2024 2025 2026 YTD flow, enab
Slide 33: Solid Financial Foundation
SOLID FINANCIAL FOUNDATION Net Debt to EBITDA (Non-GAAP)(1) 2 ~$300M Potential Future 1.5 Debt Capacity(2) ~$400M 1 0.5 Cash and Current Debt Capacity 0 2019 2020 2021 2022 2023 2024 2025 2Q26 TTM -0.5 ~$700M of Current and S&P 500 Net Debt to EBITDA ArcBest Net Debt to EBITDA Potential Capacity 1)
Slide 34: Return on Capital Employed Drives Sustainable Value
RETURN ON CAPITAL EMPLOYED Return on Capital Employed (Non-GAAP) 30% DRIVES SUSTAINABLE VALUE 25% 20% 15% Disciplined capital 10% allocation and strategic 5% investments that deliver long-term growth 0% 2019 2020 2021 2022 2023 2024 2025 2Q26 TTM EARNINGS PRESENTATION | 2Q26 See non-GAAP reconciliat
Slide 35: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures (Unaudited) Note: We report our financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP financial measures and ratios utilized internally to assess core perf
Slide 36: Forward-Looking Non-GAAP Financial Measures
ADDITIONAL INFORMATION Forward-Looking Non-GAAP Financial Measures All forward-looking financial targets in this presentation assume a consolidated tax rate of RECONCILIATIONS OF GAAP TO (Unaudited) 25%. NON-GAAP FINANCIAL MEASURES 2028 Target Consolidated non-GAAP earnings per share and non-GAAP re
Slide 37: ArcBest Consolidated
ADDITIONAL (Unaudited) INFORMATION RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES 2Q26 2Q25 ArcBest Consolidated – Operating Income (Loss) ($ millions) ArcBest Consolidated Amounts on a GAAP basis $ (20.6) $ 37.3 Innovative technology costs, pre-tax (1) 7.5 7.1 Purchase accounting amortizati
Slide 38: ArcBest Consolidated
(Unaudited) RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES 2Q26 2Q25 ADDITIONAL ArcBest Consolidated – Diluted Earnings (Loss) Per Share (1) INFORMATION Amounts on a GAAP basis $ (0.62) $ 1.12 Innovative technology costs, after-tax (includes related financing costs) (2) 0.25 0.24 ArcBest Pur
Slide 39: Asset-Based and Asset-Light
(Unaudited) RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES 2Q26 2Q25 ADDITIONAL INFORMATION Asset-Based – Operating Income ($ millions) Amounts on a GAAP basis $ 74.3 90.5% $ 51.0 92.8% Asset-Based Restructuring charges, pre-tax (1) 1.0 (0.1) - - Gain on sale of property, pre-tax (2) (2.9) 0
Slide 40: Asset-Based
ADDITIONAL INFORMATION Asset-Based RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES* (Unaudited) 2019 2020 2021 2022 2023 2024 2025 2Q26 TTM Asset-Based ($ millions, except percentages) Operating Income Amounts on a GAAP basis $ 102.1 95.2% $ 98.9 95.3% $ 260.7 89.9% $ 381.1 87.3% $ 253.2 91.2
Slide 41: Asset-Light
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES* ADDITIONAL INFORMATION (Unaudited) 2019 2020 2021 2022 2023 2024 2025 2Q26 TTM Asset-Light Asset-Light – Operating Income (Loss) ($ millions) Amounts on a GAAP basis $ (20.2) $ 9.7 $ 46.4 $ 52.7 $ (12.3) $ 58.4 $ (15.3) $ (42.6) Purchase accoun
Slide 42: ArcBest Consolidated
ADDITIONAL RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES* INFORMATION (Unaudited) 2019 2020 2021 2022 2023 2024 2025 2Q26 TTM ArcBest ArcBest Consolidated – Adjusted EBITDA (14) ($ millions) Consolidated Net Income (Amounts on a GAAP basis) $ 35.2 $ 67.3 $ 210.5 $ 294.6 $ 142.2 $ 173.4 $ 60
Slide 43: ArcBest Consolidated
2019 2020 2021 2022 2023 2024 2025 2Q26 TTM RETURN ON CAPITAL EMPLOYED (ROCE)(19) (Unaudited, $ millions) Net Income (Amounts on a GAAP basis) $ 35.2 $ 67.3 $ 210.5 $ 294.6 $ 142.2 $ 173.4 $ 60.1 $ 16.3 Innovative technology costs, after-tax (includes related financing costs) (3) 15.7 19.6 24.9 30.8
Slide 44: Notes to Non-GAAP Financial Tables
Notes to Non-GAAP Financial Tables The following footnotes apply to the non-GAAP financial tables on the previous four slides in this presentation: 1) Represents restructuring charges for the realignment of the Company’s organizational structure as previously announced. 2) Primarily includes gains o