ArcBest achieves 47% revenue growth in Q2

ArcBest achieves 47% revenue growth in Q2

Facebook
Twitter
LinkedIn

  • ArcBest Corp ARCB reported Q2 FY22 revenue grew 46.8% year over year to $1.39 billionwhich beats the consensus of $1.37 billion.
  • The revenue growth reflected the increasing demand for the wide range of transport and logistics services.
  • Adjusted earnings per share improved to $4.30 from $2.03 in the second quarter of ’21, beating the consensus of $3.95.
  • Operating income rose to $137.35 million from $74.3 million a year earlier, and margin increased 203 basis points to 9.9%.
  • Revenue by Segment: Asset-Based $802.62 million (+22.9% Y/Y) and Asset-Light $631.79 million (+91.3% Y/Y).
  • Total asset-based tonnage per day increased by 3.7%, including a 0.9% increase in LTL-assessed weight per shipment. Total shipments per day increased by 2%.
  • Total invoiced revenue per hundredweight increased 17.7% year-on-year, positively impacted by higher fuel surcharges.
  • Adjusted EBITDA rose 69.6% year over year to $173.71 million and margin increased 168 basis points to 12.5%.
  • ArcBest cash from continuing operations of $184.62 million compared to $145.9 million in the prior year. As of June 30, 2022, it held $203.9 million in cash and cash equivalents.
  • Judy R. McReynolds, ArcBest Chairman, President and CEO, commented, “As our customers’ supply chains become more complex and business pressures increase, our strategic focus on technology, innovation and the development of our people positions us for overall success environments.”
  • Price promotion: ARCB shares are trading down 1.78% at $86.12 during Friday’s premarket session.



Source story

More to explorer