Reported about 9 hours ago
ArcBest reported an 11% decrease in asset-based tonnage year-on-year for January, contributing to ongoing challenges in the less-than-truckload (LTL) industry as industrial sluggishness continues. Despite efforts to enhance profitability through efficiency and a revamped freight mix, the company faces pressure from reduced shipment demands and increased operating costs. The overall financial performance for ArcBest in the fourth quarter showed mixed results, with revenue down and operational losses in its asset-light unit, leaving uncertainty for a recovery in the coming months.
Source: YAHOO