Business
ArcBest Announces Second Quarter 2026 Results
ArcBest Announces Second Quarter 2026
About this update from Arcbest Corporation
ArcBest ® (Nasdaq: ARCB), a leader in supply chain logistics, announced financial results for the second quarter ended June 30, 2026. Second quarter 2026 revenue totaled $1.2 billion, compared to $1.0 billion in the prior-year period. Net loss was $13.8 million, or $0.62 per diluted share, versus net income of $25.8 million, or $1.12 per diluted share, in the second quarter of 2025. On a non-GAAP basis, net income was $53.6 million, or $2.38 per diluted share, compared to $31.2 million, or $1.36 per diluted share, in the prior year. Non-GAAP results exclude the impairment and restructuring charges associated with the restructuring plan announced on July 16, 2026, as well as other items described in the attached non-GAAP reconciliation tables. “Our second-quarter performance reflects disciplined execution, a more constructive operating environment and the value customers are gaining from our integrated logistics solutions,” said Seth Runser, ArcBest President and CEO. “We grew revenue and improved operating performance while continuing to invest in capabilities that make complex supply chains easier to manage. The launch of ArcBest View™ marks an important step in that journey, and our continued progress on pricing, cost management, efficiency and productivity initiatives positions us to deliver sustainable, profitable growth.” Results of Operations Comparisons Asset-Based Second Quarter 20 26 Versus Second Quarter 20 25 Revenue of $783.7 million compared to $713.3 million, a per-day increase of 9.9 percent Tonnage per day increase of 4.9 percent Shipments per day decrease of 2.8 percent Billed revenue per shipment increase of 12.5 percent Billed revenue per hundredweight increase of 4.2 percent Weight per shipment increase of 8.0 percent Operating income of $74.3 million and an operating ratio of 90.5 percent, compared to $51.0 million and 92.8 percent On a non-GAAP basis, operating income of $72.3 million and an operating ratio of 90.8 percent, compared to $51.0 million and 92.8 percent Tonnage growth was driven by higher weight per shipment, reflecting a continued shift in freight profile, partially offset by fewer shipments per day. Revenue per shipment benefited from the heavier freight profile and a higher revenue per hundredweight, largely reflecting higher fuel surcharge revenue. Excluding fuel surcharge, revenue per hundredweight was flat. Customer contract renewals and deferred pricing agreements averaged a 5.8 percent increase during the second quarter, and LTL industry pricing remains rational. Operating expenses increased due to annual union wage adjustments, increased fuel prices and purchased transportation costs, and higher equipment depreciation. On a sequential basis, second quarter daily revenue was up 17.8 percent compared to the first quarter. Tonnage per day increased 9.8 percent, driven by a 6.5 percent increase in weight per shipment and a 3.1 percent increase in daily shipments. Billed revenue per shipment increased 13.5 percent due to the heavier freight profile and a 6.5 percent increase in revenue per hundredweight, driven by higher fuel surcharge revenue and improved pricing. Excluding fuel surcharge, revenue per hundredweight improved by low single digits. The non-GAAP operating ratio decreased by 650 basis points, outperforming typical seasonality, due to higher fuel surcharge revenue, disciplined execution on pricing initiatives, and continued progress on cost optimization, network efficiency, and technology-driven productivity initiatives. Asset-Light Second Quarter 2026 Versus Second Quarter 2025 Revenue of $438.7 million compared to $341.9 million, a per-day increase of 28.3 percent Shipments per day increase of 14.6 percent Revenue per shipment increase of 12.0 percent Purchased transportation expense was 86.5 percent of revenue compared to 84.4 percent Operating loss of $31.3 million compared to operating income of $0.6 million On a non-GAAP basis, operating income of $6.3 million compared to $1.1 million Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), as defined in the attached non-GAAP reconciliation tables, of $7.0 million compared to $2.5 million Revenue increased primarily due to higher shipment volumes, led by Managed. Revenue per shipment also increased, reflecting higher fuel prices and a tightening capacity environment. Revenue growth, combined with disciplined cost management and productivity improvements, drove improved non-GAAP operating income compared to the prior year. Compared sequentially to the first quarter, second quarter daily revenue increased 14.3 percent, reflecting a 14.4 percent increase in revenue per shipment and flat shipments per day. Revenue growth, cost management and productivity improvements resulted in improved non-GAAP operating income compared to the previous quarter. Conference Call ArcBest will host a conference call with company executives to discuss its quarterly results today, Wednesday, July 29, 2026, at 9:30 a.m. ET (8:30 a.m. CT). Interested parties may listen by dialing (800) 715‑9871 and entering conference ID 6423434, or by accessing the webcast on ArcBest’s website at arcb.com . Presentation slides to accompany the call are included in Exhibit 99.3 of the Form 8-K filed on July 29, 2026, will be available for download on the company’s website prior to the start of the call, and will be included in the webcast. A replay of the call will be available through August 12, 2026, by dialing (800) 770-2030 and entering conference ID 6423434. The webcast replay will also be accessible on ArcBest’s website. About ArcBest ArcBest ® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 14,000 employees across 250 campuses and service centers, the company is a logistics powerhouse, using its technology, expertise and scale to connect shippers with the solutions they need — from ground, air and ocean transportation to fully managed supply chains. ArcBest has a long history of innovation that is enriched by deep customer relationships. With a commitment to helping customers navigate supply chain challenges now and in the future, the company continues to invest in purpose-built technology such as ArcBest View ™, its digital logistics platform that brings quoting, booking, shipment visibility and reporting into one connected experience. For more information, visit arcb.com . The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements and information in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding (i) our expectations about our intrinsic value or our prospects for growth and value creation and (ii) our financial outlook, position, strategies, goals, and expectations. Terms such as “anticipate,” “believe,” “could,” “designed,” “estimate,” “expect,” “forecast,” “foresee,” “intend,” “likely,” “may,” “plan,” “predict,” “project,” “scheduled,” “seek,” “should,” “would,” and similar expressions and the negatives of such terms are intended to identify forward-looking statements. These statements are based on management’s beliefs, assumptions, and expectations based on currently available information, are not guarantees of future performance, and involve certain risks and uncertainties (some of which are beyond our control). Although we believe that the expectations reflected in these forward-looking statements are reasonable as and when made, we cannot provide assurance that our expectations will prove to be correct and caution the reader not to place undue reliance on our forward-looking statements. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in these statements due to a number of factors, including, but not limited to: data breaches, cybersecurity incidents, and/or interruptions or failures of our information systems that we depend on, including software programs and applications provided by third parties; untimely or ineffective development and implementation of, or failure to realize the potential benefits associated with, new or enhanced technology or processes; the loss or reduction of business from multiple large customers or an overall reduction in our customer base; the timing and performance of growth initiatives and the ability to manage our cost structure; the cost, integration, and performance of future acquisitions and the inability to realize the anticipated benefits of the acquisition; unsolicited takeover proposals, proxy contests, and other proposals or actions by activist investors; maintaining our corporate reputation and intellectual property rights; failure to achieve market acceptance or generate adequate returns through our Vaux ® technologies; establishing and maintaining adequate internal controls over financial reporting; disruptions in domestic or global manufacturing activity, supply chains, and related changes in spending, resulting in material reductions in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of equipment, including new revenue equipment, and higher costs of equipment-related operating expenses such as maintenance, fuel, and related taxes; availability of fuel, the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates, and the inability to collect fuel surcharges; relationships with employees, including unions, and our ability to attract, retain, and upskill employees; unfavorable terms of, or the inability to reach agreement on, future collective bargaining agreements or a workforce stoppage by our employees covered under ABF Freight’s collective bargaining agreement; union employee wages and benefits, including changes in required contributions to multiemployer plans; availability and cost of reliable third-party services; our ability to secure independent owner-operators and/or operational or regulatory issues related to our use of their services; litigation or claims asserted against us; the effects, costs and potential liabilities related to changes in and compliance with, or violation of, existing or future governmental laws and regulations, including, but not limited to, environmental laws and regulations, such as emissions-control regulations and fuel efficiency regulations; default on covenants of financing arrangements and the availability and terms of future financing arrangements; our ability to generate sufficient cash from operations to support significant ongoing capital expenditure requirements and other business initiatives; self-insurance claims, insurance premium costs, and loss of our ability to self-insure; potential impairment of long-lived assets and goodwill and intangible assets; external events which may adversely affect us or the third parties who provide services for us, for which our business continuity plans may not adequately prepare us, including, but not limited to, the occurrence of natural disasters, public health crises, geopolitical conflicts, acts of terrorism or war, cybersecurity incidents, or trade restrictions; general economic conditions and related shifts in market demand that impact the performance and needs of industries we serve and/or limit our customers’ access to adequate financial resources; seasonal fluctuations, adverse weather conditions, natural disasters, and climate change; and other financial, operational, and legal risks and uncertainties detailed from time to time in ArcBest Corporation’s public filings with the Securities and Exchange Commission (“SEC”). For additional information regarding known material factors that could cause our actual results to differ from those expressed in these forward-looking statements, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events, or otherwise. Financial Data and Operating Statistics The following tables show financial data and operating statistics on ArcBest ® and its reportable segments. ARCBEST CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended Six Months Ended June 30 June 30 2026 2025 2026 2025 (Unaudited) ($ thousands, except share and per share data) REVENUES $ 1,184,533 $ 1,022,256 $ 2,183,319 $ 1,989,333 OPERATING EXPENSES 1,205,156 984,947 2,200,512 1,945,394 OPERATING INCOME (LOSS) (20,623 ) 37,309 (17,193 ) 43,939 OTHER INCOME (COSTS) Interest and dividend income 906 1,037 1,582 2,187 Interest and other related financing costs (3,391 ) (2,956 ) (7,679 ) (5,711 ) Other, net 2,152 578 1,000 (273 ) (333 ) (1,341 ) (5,097 ) (3,797 ) INCOME (LOSS) BEFORE INCOME TAXES (20,956 ) 35,968 (22,290 ) 40,142 INCOME TAX PROVISION (BENEFIT) (7,132 ) 10,159 (7,429 ) 11,202 NET INCOME (LOSS) $ (13,824 ) $ 25,809 $ (14,861 ) $ 28,940 EARNINGS PER COMMON SHARE Basic $ (0.62 ) $ 1.12 $ (0.67 ) $ 1.25 Diluted $ (0.62 ) $ 1.12 $ (0.67 ) $ 1.25 AVERAGE COMMON SHARES OUTSTANDING Basic 22,348,772 22,944,228 22,344,449 23,070,812 Diluted 22,348,772 23,008,707 22,344,449 23,146,609 ARCBEST CORPORATION CONSOLIDATED BALANCE SHEETS June 30 December 31 2026 2025 (Unaudited) Note ($ thousands, except share data) ASSETS CURRENT ASSETS Cash and cash equivalents $ 145,851 $ 102,030 Short-term investments 22,580 22,204 Accounts receivable, less allowances (2026 - $8,884; 2025 - $7,763) 453,782 370,969 Other accounts receivable, less allowances (2026 - $713; 2025 - $656) 9,206 26,295 Prepaid expenses 38,748 49,399 Prepaid and refundable income taxes 27,483 45,405 Other 8,836 9,761 TOTAL CURRENT ASSETS 706,486 626,063 PROPERTY, PLANT AND EQUIPMENT Land and structures 574,861 566,071 Revenue equipment 1,212,564 1,201,386 Service, office, and other equipment 312,336 363,340 Software 191,444 190,673 Leasehold improvements 43,349 41,531 2,334,554 2,363,001 Less allowances for depreciation and amortization 1,242,195 1,219,564 PROPERTY, PLANT AND EQUIPMENT, net 1,092,359 1,143,437 GOODWILL 304,753 304,753 INTANGIBLE ASSETS, net 37,716 69,391 OPERATING RIGHT-OF-USE ASSETS 215,292 220,157 DEFERRED INCOME TAXES 16,770 9,303 OTHER LONG-TERM ASSETS 78,909 79,558 TOTAL ASSETS $ 2,452,285 $ 2,452,662 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable $ 198,228 $ 154,487 Income taxes payable 8,811 — Accrued expenses 391,794 378,125 Current portion of long-term debt 94,484 87,882 Current portion of operating lease liabilities 36,263 36,394 TOTAL CURRENT LIABILITIES 729,580 656,888 LONG-TERM DEBT, less current portion 121,065 135,974 OPERATING LEASE LIABILITIES, less current portion 207,947 204,333 POSTRETIREMENT LIABILITIES, less current portion 13,700 13,696 DEFERRED INCOME TAXES 80,898 111,580 OTHER LONG-TERM LIABILITIES 31,502 34,470 STOCKHOLDERS’ EQUITY Common stock, $0.01 par value, authorized 70,000,000 shares; issued 2026: 30,579,951 shares; 2025: 30,489,886 shares 306 305 Additional paid-in capital 338,861 338,083 Retained earnings 1,464,152 1,484,378 Treasury stock, at cost, 2026: 8,232,856 shares; 2025: 8,140,368 shares (534,777 ) (526,606 ) Accumulated other comprehensive loss (949 ) (439 ) TOTAL STOCKHOLDERS’ EQUITY 1,267,593 1,295,721 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,452,285 $ 2,452,662 ____________________ Note: The balance sheet at December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. ARCBEST CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30 2026 2025 (Unaudited) ($ thousands) OPERATING ACTIVITIES Net income (loss) $ (14,861 ) $ 28,940 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 83,929 74,490 Amortization of intangibles 5,056 6,400 Share-based compensation expense 4,720 6,162 Provision for losses on accounts receivable 2,257 1,402 Change in deferred income taxes (37,989 ) (187 ) (Gain) loss on sale of property and equipment (1,784 ) 42 Asset impairment charges 85,266 — Change in fair value of contingent consideration — (2,650 ) Changes in operating assets and liabilities: Receivables (68,517 ) 3,866 Prepaid expenses 10,651 9,744 Other assets (2,315 ) (1,396 ) Income taxes 26,652 9,130 Operating right-of-use assets and lease liabilities, net (15 ) (11,421 ) Accounts payable, accrued expenses, and other liabilities 45,229 (39,486 ) NET CASH PROVIDED BY OPERATING ACTIVITIES 138,279 85,036 INVESTING ACTIVITIES Purchases of property, plant and equipment, net of financings (22,388 ) (42,007 ) Proceeds from sale of property and equipment 6,095 6,142 Proceeds from sale of short-term investments — 5,236 Capitalization of internally developed software (7,275 ) (6,268 ) Other investing activities — 1,075 NET CASH USED IN INVESTING ACTIVITIES (23,568 ) (35,822 ) FINANCING ACTIVITIES Borrowings under credit facilities — 25,000 Payments on long-term debt (52,679 ) (35,526 ) Net change in book overdrafts (717 ) (2,021 ) Deferred financing costs (17 ) (19 ) Payment of common stock dividends (5,365 ) (5,543 ) Purchases of treasury stock (8,171 ) (41,737 ) Payments for tax withheld on share-based compensation (3,941 ) (1,938 ) NET CASH USED IN FINANCING ACTIVITIES (70,890 ) (61,784 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 43,821 (12,570 ) Cash and cash equivalents at beginning of period 102,030 127,444 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 145,851 $ 114,874 NONCASH INVESTING ACTIVITIES Equipment financed $ 44,372 $ 62,791 Accruals for equipment received $ 10,186 $ 14,586 Lease liabilities arising from obtaining right-of-use assets $ 22,228 $ 41,978 ARCBEST CORPORATION FINANCIAL STATEMENT OPERATING SEGMENT DATA AND OPERATING RATIOS Three Months Ended Six Months Ended June 30 June 30 2026 2025 2026 2025 (Unaudited) ($ thousands, except percentages) REVENUES Asset-Based $ 783,671 $ 713,312 $ 1,438,678 $ 1,359,606 Asset-Light 438,705 341,922 816,451 697,934 Other and eliminations (37,843 ) (32,978 ) (71,810 ) (68,207 ) Total consolidated revenues $ 1,184,533 $ 1,022,256 $ 2,183,319 $ 1,989,333 OPERATING EXPENSES Asset-Based Salaries, wages, and benefits $ 374,101 47.7 % $ 365,929 51.3 % $ 729,240 50.7 % $ 710,070 52.2 % Fuel, supplies, and expenses 97,832 12.4 79,834 11.2 179,417 12.4 157,476 11.6 Operating taxes and licenses 14,136 1.8 13,845 1.9 28,604 2.0 26,957 2.0 Insurance 16,505 2.1 17,653 2.5 32,574 2.3 35,616 2.6 Communications and utilities 5,270 0.7 5,150 0.7 11,029 0.8 10,960 0.8 Depreciation and amortization 36,632 4.7 31,664 4.4 72,843 5.0 62,254 4.6 Rents and purchased transportation 90,112 11.5 76,198 10.7 158,772 11.0 143,359 10.6 Shared services 74,352 9.5 69,868 9.8 133,516 9.3 132,311 9.7 Restructuring charges (1) 953 0.1 — — 953 0.1 — — Gain on sale of property and equipment (2) (2,496 ) (0.3 ) (159 ) — (2,352 ) (0.2 ) (136 ) — Other 2,022 0.3 2,301 0.3 2,353 0.2 3,293 0.2 Total Asset-Based 709,419 90.5 % 662,283 92.8 % 1,346,949 93.6 % 1,282,160 94.3 % Asset-Light Purchased transportation $ 379,313 86.5 % $ 288,580 84.4 % $ 704,984 86.3 % $ 593,194 85.0 % Salaries, wages, and benefits 29,095 6.6 25,629 7.5 51,840 6.4 51,178 7.3 Supplies and expenses 1,670 0.4 1,739 0.5 3,119 0.4 3,478 0.5 Depreciation and amortization (3) 3,881 0.9 4,605 1.4 7,891 1.0 9,223 1.3 Shared services 13,925 3.1 18,594 5.4 32,694 4.0 36,575 5.3 Asset impairment charges (4) 34,503 7.9 — — 34,503 4.2 — — Restructuring charges (1) 712 0.2 — — 712 0.1 — — Contingent consideration (5) — — (2,650 ) (0.8 ) — — (2,650 ) (0.4 ) Other 6,954 1.5 4,834 1.4 11,825 1.4 10,725 1.5 Total Asset-Light 470,053 107.1 % 341,331 99.8 % 847,568 103.8 % 701,723 100.5 % Other and eliminations (6) 25,684 (18,667 ) 5,995 (38,489 ) Total consolidated operating expenses $ 1,205,156 101.7 % $ 984,947 96.4 % $ 2,200,512 100.8 % $ 1,945,394 97.8 % OPERATING INCOME (LOSS) Asset-Based $ 74,252 $ 51,029 $ 91,729 $ 77,446 Asset-Light (31,348 ) 591 (31,117 ) (3,789 ) Other and eliminations (6) (63,527 ) (14,311 ) (77,805 ) (29,718 ) Total consolidated operating income (loss) $ (20,623 ) $ 37,309 $ (17,193 ) $ 43,939 ____________________ 1) Restructuring charges relate to realignment of the Company’s organizational structure as previously announced. 2) The 2026 periods include a net gain of $2.9 million on the sale of a service center during second quarter 2026. 3) Includes amortization of intangibles associated with acquired businesses. 4) Represents noncash asset impairment charges of $25.7 million to write off the Panther trade name in connection with a strategic brand consolidation decision within Asset-Light’s operations and an $8.8 million lease-related impairment charge associated with office space. 5) Represents the change in fair value of the contingent earnout consideration recorded for the MoLo acquisition. The Company reduced the contingent consideration for the MoLo acquisition to zero in second quarter 2025, reflecting the probability of no earnout payment based on projections of adjusted earnings before interest, taxes, depreciation, and amortization for 2025. 6) Includes $0.5 million in restructuring charges and $50.8 million in asset impairment charges related to the write-off of certain freight movement system assets associated with Vaux for the 2026 periods. “Other” also includes corporate costs for certain unallocated shared service costs which are not attributable to any segment, additional investments to offer comprehensive transportation and logistics services across multiple operating segments, costs related to our customer pilot offering of Vaux, and other investments in ArcBest technology and innovations. ARCBEST CORPORATION RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES Non-GAAP Financial Measures We report our financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP financial measures and ratios utilized internally to assess core performance offer analysts, investors, and others insights into performance trends by excluding items from operating results that management believes do not reflect our core operating performance. Our calculations may not be comparable to similarly titled measures of other companies as other companies may calculate non-GAAP measures differently. Certain information discussed in the scheduled conference call could be considered non-GAAP measures. Non-GAAP financial measures should be viewed in addition to, and not as an alternative or a better measurement than operating income (loss), net income (loss) or earnings per share, as determined under GAAP, which are the most directly comparable measures for the periods presented. Three Months Ended Six Months Ended June 30 June 30 2026 2025 2026 2025 ArcBest Corporation — Consolidated (Unaudited) ($ thousands, except per share data) Operating Income (Loss) Amounts on GAAP basis $ (20,623 ) $ 37,309 $ (17,193 ) $ 43,939 Innovative technology costs, pre-tax (1) 7,528 7,123 14,977 14,636 Purchase accounting amortization, pre-tax (2) 2,457 3,192 5,043 6,384 Asset impairment charges, pre-tax (3) 85,266 — 85,266 — Restructuring charges, pre-tax (4) 2,173 — 2,173 — Gain on sale of property, pre-tax (5) (2,910 ) — (2,910 ) — Change in fair value of contingent consideration, pre-tax (6) — (2,650 ) — (2,650 ) Non-GAAP amounts $ 73,891 $ 44,974 $ 87,356 $ 62,309 Net Income (Loss) Amounts on GAAP basis $ (13,824 ) $ 25,809 $ (14,861 ) $ 28,940 Innovative technology costs, after-tax (includes related financing costs) (1) 5,709 5,428 11,358 11,152 Purchase accounting amortization, after-tax (2) 1,853 2,398 3,804 4,796 Asset impairment charges, after-tax (3) 64,209 — 64,209 — Restructuring charges, after-tax (4) 1,634 — 1,634 — Gain on sale of property, after-tax (5) (2,184 ) — (2,184 ) — Change in fair value of contingent consideration, after-tax (6) — (1,991 ) — (1,991 ) Changes in cash surrender value and gains on life insurance policies (2,500 ) (1,428 ) (1,823 ) (741 ) Tax expense (benefit) from vested RSUs (1,320 ) 995 (1,409 ) 992 Non-GAAP amounts $ 53,577 $ 31,211 $ 60,728 $ 43,148 Diluted Earnings Per Share (7) Amounts on GAAP basis $ (0.62 ) $ 1.12 $ (0.67 ) $ 1.25 Innovative technology costs, after-tax (includes related financing costs) (1) 0.25 0.24 0.51 0.48 Purchase accounting amortization, after-tax (2) 0.08 0.10 0.17 0.21 Asset impairment charges, after-tax (3) 2.86 — 2.86 — Restructuring charges, after-tax (4) 0.07 — 0.07 — Gain on sale of property, after-tax (5) (0.10 ) — (0.10 ) — Change in fair value of contingent consideration, after-tax (6) — (0.09 ) — (0.09 ) Changes in cash surrender value and gains on life insurance policies (0.11 ) (0.06 ) (0.08 ) (0.03 ) Tax expense (benefit) from vested RSUs (0.06 ) 0.04 (0.06 ) 0.04 Non-GAAP amounts (8) $ 2.38 $ 1.36 $ 2.70 $ 1.86 ____________________ See “Notes to Non-GAAP Financial Tables” for footnotes to this ArcBest Corporation – Consolidated non-GAAP table. ARCBEST CORPORATION RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES - Continued Three Months Ended Six Months Ended June 30 June 30 2026 2025 2026 2025 Segment Operating Income (Loss) Reconciliations (Unaudited) ($ thousands, except percentages) Asset-Based Segment Operating Income ($) and Operating Ratio (% of revenues) Amounts on GAAP basis $ 74,252 90.5 % $ 51,029 92.8 % $ 91,729 93.6 % $ 77,446 94.3 % Restructuring charges, pre-tax (4) 953 (0.1 ) — — 953 (0.1 ) — — Gain on sale of property, pre-tax (5) (2,910 ) 0.4 — — (2,910 ) 0.2 — — Non-GAAP amounts (8) 72,295 90.8 % $ 51,029 92.8 % 89,772 93.8 % $ 77,446 94.3 % Asset-Light Segment Operating Income (Loss) ($) and Operating Ratio (% of revenues) Amounts on GAAP basis $ (31,348 ) 107.1 % $ 591 99.8 % $ (31,117 ) 103.8 % $ (3,789 ) 100.5 % Purchase accounting amortization, pre-tax (2) 2,457 (0.6 ) 3,192 (0.9 ) 5,043 (0.6 ) 6,384 (0.9 ) Asset impairment charges, pre-tax (3) 34,503 (7.9 ) — — 34,503 (4.2 ) — — Restructuring charges, pre-tax (4) 712 (0.2 ) — — 712 (0.1 ) — — Change in fair value of contingent consideration, pre-tax (6) — — (2,650 ) 0.8 — — (2,650 ) 0.4 Non-GAAP amounts (8) $ 6,324 98.6 % $ 1,133 99.7 % $ 9,141 98.9 % $ (55 ) 100.0 % Other and Eliminations Operating Loss ($) Amounts on GAAP basis $ (63,527 ) $ (14,311 ) $ (77,805 ) $ (29,718 ) Innovative technology costs, pre-tax (1) 7,528 7,123 14,977 14,636 Asset impairment charges, pre-tax (3) 50,763 — 50,763 — Restructuring charges, pre-tax (4) 508 — 508 — Non-GAAP amounts $ (4,728 ) $ (7,188 ) $ (11,557 ) $ (15,082 ) ____________________ Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this Segment Operating Income (Loss) Reconciliations non-GAAP table. ARCBEST CORPORATION RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES – Continued Effective Tax Rate Reconciliation ArcBest Corporation - Consolidated (Unaudited) ($ thousands, except percentages) Three Months Ended June 30, 2026 Operating Other Income (Loss) Income Net Income Income Before Income Tax Provision Income (Loss) (Costs) Taxes (Benefit) (Loss) Tax Rate (9) Amounts on GAAP basis $ (20,623 ) $ (333 ) $ (20,956 ) $ (7,132 ) $ (13,824 ) (34.0 ) % Innovative technology costs (1) 7,528 63 7,591 1,882 5,709 24.8 Purchase accounting amortization (2) 2,457 — 2,457 604 1,853 24.6 Asset impairment charges (3) 85,266 — 85,266 21,057 64,209 24.7 Restructuring charges (4) 2,173 — 2,173 539 1,634 24.8 Gain on sale of property (5) (2,910 ) — (2,910 ) (726 ) (2,184 ) (24.9 ) Changes in cash surrender value and gains on life insurance policies — (2,500 ) (2,500 ) — (2,500 ) — Tax benefit from vested RSUs — — — 1,320 (1,320 ) — Non-GAAP amounts $ 73,891 $ (2,770 ) $ 71,121 $ 17,544 $ 53,577 24.7 % Six Months Ended June 30, 2026 Operating Other Income (Loss) Income Net Income Income Before Income Tax Provision Income (Loss) (Costs) Taxes (Benefit) (Loss) Tax Rate (9) Amounts on GAAP basis $ (17,193 ) $ (5,097 ) $ (22,290 ) $ (7,429 ) $ (14,861 ) (33.3 ) % Innovative technology costs (1) 14,977 125 15,102 3,744 11,358 24.8 Purchase accounting amortization (2) 5,043 — 5,043 1,239 3,804 24.6 Asset impairment charges (3) 85,266 — 85,266 21,057 64,209 24.7 Restructuring charges (4) 2,173 — 2,173 539 1,634 24.8 Gain on sale of property (5) (2,910 ) — (2,910 ) (726 ) (2,184 ) (24.9 ) Changes in cash surrender value and gains on life insurance policies — (1,823 ) (1,823 ) — (1,823 ) — Tax benefit from vested RSUs — — — 1,409 (1,409 ) — Non-GAAP amounts $ 87,356 $ (6,795 ) $ 80,561 $ 19,833 $ 60,728 24.6 % Three Months Ended June 30, 2025 Other Income Income Operating Income Before Income Tax Net Income (Costs) Taxes Provision Income Tax Rate (9) Amounts on GAAP basis $ 37,309 $ (1,341 ) $ 35,968 $ 10,159 $ 25,809 28.2 % Innovative technology costs (1) 7,123 94 7,217 1,789 5,428 24.8 Purchase accounting amortization (2) 3,192 — 3,192 794 2,398 24.9 Change in fair value of contingent consideration (6) (2,650 ) — (2,650 ) (659 ) (1,991 ) (24.9 ) Changes in cash surrender value and gains on life insurance policies — (1,428 ) (1,428 ) — (1,428 ) — Tax expense from vested RSUs — — — (995 ) 995 — Non-GAAP amounts $ 44,974 $ (2,675 ) $ 42,299 $ 11,088 $ 31,211 26.2 % Six Months Ended June 30, 2025 Other Income Income Operating Income Before Income Tax Net Income (Costs) Taxes Provision Income Tax Rate (9) Amounts on GAAP basis $ 43,939 $ (3,797 ) $ 40,142 $ 11,202 $ 28,940 27.9 % Innovative technology costs (1) 14,636 193 14,829 3,677 11,152 24.8 Purchase accounting amortization (2) 6,384 — 6,384 1,588 4,796 24.9 Change in fair value of contingent consideration (6) (2,650 ) — (2,650 ) (659 ) (1,991 ) (24.9 ) Changes in cash surrender value and gains on life insurance policies — (741 ) (741 ) — (741 ) — Tax expense from vested RSUs — — — (992 ) 992 — Non-GAAP amounts $ 62,309 $ (4,345 ) $ 57,964 $ 14,816 $ 43,148 25.6 % ____________________ Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this Effective Tax Rate Reconciliation non-GAAP table. ARCBEST CORPORATION RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES – Continued Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (Adjusted EBITDA) Adjusted EBITDA is used for business planning and as a key performance measure, particularly because it excludes certain significant expenses resulting from strategic decisions or other factors rather than core daily operations, such as amortization of acquired intangibles and software of the Asset-Light segment, asset impairment charges, and changes in the fair value of contingent consideration. The calculation of Consolidated Adjusted EBITDA as presented below begins with net income (loss), which is the most directly comparable GAAP measure. The calculation of Asset-Light Adjusted EBITDA as presented below begins with operating income (loss), as other income (costs), income tax provision (benefit), and net income (loss) are reported at the consolidated level and not included in the operating segment financial information evaluated by management to make operating decisions. Three Months Ended Six Months Ended June 30 June 30 2026 2025 2026 2025 (Unaudited) ($ thousands) ArcBest Corporation - Consolidated Adjusted EBITDA Net Income (Loss) $ (13,824 ) $ 25,809 $ (14,861 ) $ 28,940 Interest and other related financing costs 3,391 2,956 7,679 5,711 Income tax provision (benefit) (7,132 ) 10,159 (7,429 ) 11,202 Depreciation and amortization (10) 44,681 40,926 88,985 80,890 Amortization of share-based compensation 2,602 3,779 4,720 6,162 Asset impairment charges (3) 85,266 — 85,266 — Change in fair value of contingent consideration (6) — (2,650 ) — (2,650 ) Consolidated Adjusted EBITDA $ 114,984 $ 80,979 $ 164,360 $ 130,255 ____________________ Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this ArcBest Corporation – Consolidated Adjusted EBITDA non-GAAP table. Three Months Ended Six Months Ended June 30 June 30 2026 2025 2026 2025 (Unaudited) ($ thousands) Asset-Light Adjusted EBITDA Operating Income (Loss) $ (31,348 ) $ 591 $ (31,117 ) $ (3,789 ) Depreciation and amortization (10) 3,881 4,605 7,891 9,223 Asset impairment charges (3) 34,503 — 34,503 — Change in fair value of contingent consideration (6) — (2,650 ) — (2,650 ) Asset-Light Adjusted EBITDA $ 7,036 $ 2,546 $ 11,277 $ 2,784 ____________________ Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this Asset-Light Adjusted EBITDA non-GAAP table. ARCBEST CORPORATION RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES – Continued Notes to Non-GAAP Financial Tables The following footnotes apply to the non-GAAP financial tables presented in this press release. 1) Represents costs related to our customer pilot offering of Vaux and initiatives to optimize our performance through technological innovation. 2) Represents the amortization of acquired intangible assets in the Asset-Light segment. 3) Represents $50.8 million in asset impairment charges related to the write-off of certain freight movement system assets associated with Vaux. Also represents $25.7 million in noncash asset impairment charges to write off the Panther trade name as part of a strategic brand consolidation decision within Asset-Light’s operations and $8.8 million in lease-related impairment charges for certain Asset-Light office space. 4) Represents restructuring charges for the realignment of the Company’s organizational structure as previously announced. 5) Represents the gain on a service center sale within the Asset-Based operations. 6) Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition, as previously described in the footnotes to the Financial Statement Operating Segment Data and Operating Ratios table. 7) For the three and six months ended June 30, 2026, ArcBest reported a net loss on a GAAP basis and reported net income on a non-GAAP basis. The average common shares outstanding used to calculate non-GAAP diluted earnings per share for the 2026 periods were adjusted to include unvested restricted stock awards, which were excluded from the calculation of GAAP diluted earnings per share due to the net loss. Three Months Ended Six Months Ended June 30, 2026 June 30, 2026 Average Common Shares Outstanding Diluted shares on GAAP basis 22,348,772 22,344,449 Effect of unvested restricted stock awards 134,670 143,673 Non-GAAP diluted shares 22,483,442 22,488,122 8) Non-GAAP amounts are calculated in total and may not equal the sum of GAAP amounts and non-GAAP adjustments due to rounding. 9) Tax rate for total “Amounts on GAAP basis” represents the effective tax rate. The tax effects of non-GAAP adjustments are calculated based on the statutory rate applicable to each item based on tax jurisdiction unless the nature of the item requires the tax effect to be estimated by applying a specific tax treatment. 10) Includes amortization of intangibles associated with acquired businesses. ARCBEST CORPORATION OPERATING STATISTICS Three Months Ended Six Months Ended June 30 June 30 2026 2025 % Change 2026 2025 % Change (Unaudited) Asset-Based Workdays 63.5 63.5 126.0 126.5 Tonnage / Day 12,240 11,666 4.9 % 11,697 11,068 5.7 % Shipments / Day 20,456 21,051 (2.8 %) 20,151 20,274 (0.6 %) Billed Revenue (1) / Shipment $ 605.24 $ 537.94 12.5 % $ 570.18 $ 534.37 6.7 % Billed Revenue (1) / CWT $ 50.58 $ 48.54 4.2 % $ 49.11 $ 48.94 0.3 % Weight / Shipment 1,197 1,108 8.0 % 1,161 1,092 6.3 % Shipments / DSY hour 0.438 0.451 (3.0 %) 0.439 0.449 (2.3 %) Average Length of Haul (Miles) 1,135 1,131 0.4 % 1,130 1,128 0.2 % ____________________ 1) Revenue for undelivered freight is deferred for financial statement purposes in accordance with the Asset-Based segment revenue recognition policy. Billed revenue has not been adjusted for the portion of revenue deferred for financial statement purposes. Year Over Year % Change Three Months Ended Six Months Ended June 30, 2026 June 30, 2026 (Unaudited) Asset-Light Shipments / Day 14.6 % 12.1 % Revenue / Shipment 12.0 % 4.7 % Shipments / Employee / Day 35.3 % 30.6 % View source version on businesswire.com: https://www.businesswire.com/news/home/20260729395934/en/
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