Arcbest Corporation · NASDAQ:ARCB
Arcbest — Q3 2026 Earnings Presentation
44 slides from Arcbest's earnings presentation, Nov 4, 2026
Slide 1: 3Q26 Earnings Presentation
3Q26 Earnings Presentation
Slide 2: Safe harbor statement
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 1995, including, among othe
Slide 3: ArcBest at a glance
We are a leading integrated logistics company that leverages technology and a full suite of solutions to meet customers’ supply chain needs A T A G L A N C E N A S D A Q : A R C B E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 * Armstrong & Associates, US Department of Commerce, management estima
Slide 4: Vision, mission, strategy and values
V I S I O N S T R A T E G Y Creativity Integrity Collaboration Growth Excellence Wellness M I S S I O N To connect and positively impact the world through solving logistics challenges To be the leading logistics partner and innovator, working with customers to build better supply chains across the g
Slide 5: ArcBest is a strategic partner to customers
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 5 ARCBEST IS A STRATEGIC PARTNER TO CUSTOMERS Cost Savings Actionable Supply Chain Insights Operational Efficiencies P A R T N E R I N G W I T H C U S T O M E R S T O P R O V I D E C U S T O M E R S W A N T A N D N E E D Resiliency Flexibility Effici
Slide 6: ArcBest solves customer needs through multiple solutions
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 6 ARCBEST SOLVES CUSTOMER NEEDS THROUGH MULTIPLE SOLUTIONS Less-than- Truckload Truckload Managed Logistics Expedite and Other Services Customers use an average of 4services
Slide 7: Customer-led strategy yields results
>3x Revenue & Profit per account is over 3X higher on cross-sold accounts Revenue & Profit 70% About 70% of customers who use Asset-Light services also utilize Asset-Based services 5% Higher Customer Retention Asset-Light + Asset-Based Retention rates are 5 percentage points higher on cross-sold acc
Slide 8: Managed Logistics
2017 2018 2019 2020 2021 2022 2023 2024 2025 3Q26 Average Managed Shipments Per Day E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 8 MANAGED LOGISTICS ArcBest is a 3PL with Assets • Strong network of LTL, truckload & rail capacity providers • ~230 Service Centers • 40K+ pieces of owned equipment
Slide 9: 2028 Financial Targets
16%-19% Margin Expansion and Growth Strong EPS Growth 2028 FINANCIAL TARGETS Annual Operating Cash Flow 87%-90% Asset-Based Non-GAAP Operating Ratio(1) $40M-$70M Asset-Light Non-GAAP Operating Income(1) $400M-$500M $12-$15 Non-GAAP Diluted EPS (1)(2) Non-GAAP Return on Capital Employed(1) 1) See non
Slide 10: Strategic Pillars
Increasing EFFICIENCY Driving INNOVATION Accelerating PROFITABLE GROWTH ✓ Go-to-Market Approach ✓ Maintaining Yield Discipline ✓ Expanding Quote Pool ✓ Enhancing Customer Service and Visibility Tools ✓ Network Capacity ✓ Fleet Optimization ✓ Technology & AI Portfolio STRATEGIC PILLARS E A R N I N G
Slide 11: Go-to-Market Approach
Marketing Sales Solutions Design Yield Commercial Team E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 11 GO-TO-MARKET APPROACH Accelerating Managed Logistics Opportunities Growing Core LTL Business Growing Truckload Business & Optimizing Mix Enhancing Expedite Growth ACCELERATING PROFITABLE GROWT
Slide 12: Maintaining yield discipline through centralized pricing strategy
MAINTAINING YIELD DISCIPLINE THROUGH CENTRALIZED PRICING STRATEGY $0 $25 $50 Revenue/CWT $0 $275 $550 Revenue/Shipment Cost Market Value Strongest LTL Pricing Metrics Among Competitors Peers ABF Legend: ~1.6x ~1.5x Peers as of 2Q26 What is the market price? How much will it cost to handle? What addi
Slide 13: Expanding quote pool drives profitable growth
EXPANDING QUOTE POOL DRIVES PROFITABLE GROWTH Selectively fill capacity to optimize yield and profitability ArcBest View TMS Providers 3PLs NMFC Changes Profitable Growth E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 13 ACCELERATING PROFITABLE GROWTH
Slide 14: Dynamic price improves as quotes grow
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 14 DYNAMIC PRICE IMPROVES AS QUOTES GROW ACCELERATING PROFITABLE GROWTH More quotes, more choices Drives additional incremental profit K 50K 100K 150K 200K 250K 300K 350K 2020 2021 2022 2023 2024 2025 2026 Daily Dynamic Quotes ~70% More Rev/Ship Sinc
Slide 15: Network Capacity
8,800 9,000 9,300 9,500 9,600 9,500 2021 2022 2023 2024 2025 2026 ~8% Net Door Expansion Since 2021 Strategically Added Capacity Revenue Growth E N A B L E S : Efficiency Productivity Service I M P R O V E S : E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 15 NETWORK CAPACITY Disciplined investme
Slide 16: Fleet Optimization
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 16 FLEET OPTIMIZATION Disciplined investments in our fleet FLEET INVESTMENT • Annual reinvestment cycle • Optimized total cost of ownership • 40,000+ owned and operated pieces of equipment FLEET EFFICIENCY • Maintaining young and modern fleet • Pilot
Slide 17: ArcBest AI Approach
Customer value remains central as we balance digital enablement with human support AI supports our strategy and is integrated into current initiatives DRIVING INNOVATION Governance ensures responsible, secure, and rapid deployment We build where our network and process knowledge create advantage, an
Slide 18: Technology and AI Portfolio
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 18 TECHNOLOGY AND AI PORTFOLIO Optimize the Asset-Based Network Asset-Based Optimization Efficiency & Margin Improvements Better & Faster Information for Customers Commercial Optimization * Includes AI components that enhance efficiency and decision
Slide 19: Unified platform for shipment execution, visibility and insights
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 19 • 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 manage daily shi
Slide 20: Key Metrics: ArcBest Consolidated
$22M 72% $1.2B E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 20 Key Metrics A R C B E S T C O N S O L I D A T E D 3Q26 vs 3Q25 ArcBest Consolidated Revenue $2.62 Non-GAAP Earnings per Diluted Share(1) $85.5M Non-GAAP Operating Income(1) Asset-Based 15% Asset-Light 79% $13M 1) See non-GAAP reconc
Slide 21: Key Metrics: Asset-Based
Billed Rev/CWT Billed Revenue per Shipment 1% 3% 40% Shipments per Day Average Increase on Contract Renewals and Deferred Pricing Agreements Tonnage per Day Weight per Shipment 10% 14% 5.1% E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 21 Key Metrics A S S E T - B A S E D Non-GAAP Operating Inco
Slide 22: Operating Ratio Bridge
Higher Revenue per Shipment Increased weight per shipment Increased revenue per hundredweight, including higher fuel surcharge revenue 5.1% increase on contract renewals during 3Q Higher Cost per Shipment Increased contracted union labor rates Higher fuel and purchased transportation 80 82 84 86 88
Slide 23: Labor planning aligns headcount and shipments
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 23 LABOR PLANNING ALIGNS HEADCOUNT AND SHIPMENTS 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 5,000 5,500 6,000 6,500 7,000 7,500 8,000 8,500 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q
Slide 24: October Preliminary Key Metrics: Asset-Based
O C T O B E R P R E L I M I N A R Y 1% E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 24 Key Metrics A S S E T - B A S E D Oct 2026 vs Oct 2025 Billed Revenue per Day Tonnage per Day Shipments per Day Billed Rev/CWT Billed Revenue per Shipment Weight per Shipment 18% 14% 15% 4% 20%
Slide 25: Key Metrics: Asset-Light
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 25 Key Metrics A S S E T - L I G H T 3Q26 vs 3Q25 $446M Asset-Light Revenue Non-GAAP Operating Income(1) Shipments per Day Revenue per Shipment Shipments per Person per Day Purchased Transportation as % of Revenue: 85% 1% 24% 8% 1) See non-GAAP recon
Slide 26: October Preliminary Key Metrics: Asset-Light
O C T O B E R P R E L I M I N A R Y Revenue per Shipment E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 26 Key Metrics A S S E T - L I G H T Oct 2026 vs Oct 2025 18% Revenue per Day Shipments per Day Purchased Transportation as % of Revenue: 85% 8% 27%
Slide 27: Asset-Based Annual Operating Ratio
94.5% 94.2% 88.8% 86.4% 90.4% 91.2% 94.3% 93.4% 75% 80% 85% 90% 95% 2019 2020 2021 2022 2023 2024 2025 3Q26 TTM FREIGHT RECESSION COVID-19 IMPACTS Union Pension Impact on Operating Ratio E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 27 ASSET-BASED ANNUAL OPERATING RATIO FREIGHT RECESSION See non
Slide 28: Asset-Based Annual Margin
1,000 1,200 1,400 1,600 1,800 2,000 $300 $350 $400 $450 $500 $550 $600 $650 2019 2020 2021 2022 2023 2024 2025 3Q26 TTM Weight Revenue and Cost Rev/Shp Cost/Shp Wgt/Shp E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 28 ASSET-BASED ANNUAL MARGIN Revenue per shipment Reflects disciplined pricing, c
Slide 29: Asset-Light Annual Operating Income
-$40 -$20 $0 $20 $40 $60 $80 $100 2019 2020 2021 2022 2023 2024 2025 3Q26 TTM FREIGHT RECESSION COVID-19 IMPACTS FREIGHT RECESSION E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 29 ASSET-LIGHT ANNUAL OPERATING INCOME compared to 2024 (Non-GAAP) $ IMPROVEMENT 41M IN OPERATING RESULTS See non-GAAP
Slide 30: Balanced approach to capital allocation
Maintaining solid balance sheet and investment-grade credit metrics E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 30 BALANCED APPROACH TO CAPITAL ALLOCATION Returning cash to shareholders through share repurchases and dividends Prioritizing high-return, organic investments in real estate, equipm
Slide 31: Capital Intensity Decreasing
2019 - 2021 2022 - 2025 2026 - 2028 Target Normalization following ‘22-‘25 strategic investments Asset-Light strategy requires minimal capital Efficiency gains from tech, training, process improvements Rigorous capital investment evaluation Projected 2026 Net Capital Expenditures: $130M to $140M E A
Slide 32: Return of Capital
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 32 RETURN OF CAPITAL Increasing Returns to Shareholders Through Dividends and Share Repurchases $57M Remaining share repurchase authorization $500M+ Returned to shareholders since 2019 Generates significant free cash flow, enabling opportunistic shar
Slide 33: Solid Financial Foundation
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 33 SOLID FINANCIAL FOUNDATION ~$760M of Current and Potential Capacity ~$430M Cash and Current Debt Capacity ~$330M Potential Future Debt Capacity(2) 1) See non-GAAP reconciliations in the Additional Information section of this presentation 2) Reflec
Slide 34: Return on Capital Employed
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 34 RETURN ON CAPITAL EMPLOYED 0% 5% 10% 15% 20% 25% 30% 2019 2020 2021 2022 2023 2024 2025 3Q26 TTM Return on Capital Employed (Non-GAAP) Disciplined capital allocation and strategic investments that deliver long-term growth DRIVES SUSTAINABLE VALUE
Slide 35: Reconciliations of GAAP to Non-GAAP Financial Measures
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 35 Reconciliations of GAAP to Non-GAAP Financial Measures (Unaudited) Note: We report our financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP financial measur
Slide 36: Forward-looking non-GAAP targets and tax rate assumptions
All forward-looking financial targets in this presentation assume a consolidated tax rate of 25%. Consolidated non-GAAP earnings per share and non-GAAP return on capital employed are non-GAAP financial measures that are most directly comparable to consolidated earnings per share and return on capita
Slide 37: Consolidated Operating Income Reconciliation
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited) 3Q26 3Q25 ArcBest Consolidated – Operating Income ($ millions) Amounts on a GAAP basis $ 73.3 $ 54.6 Innovative technology costs, pre-tax (1) 6.1 7.7 Purchase accounting amortization, pre-tax (2) 1.8 3.2 Restructuring charges, pre-ta
Slide 38: Consolidated Diluted EPS Reconciliation
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 38 ArcBest Consolidated RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited) 3Q26 3Q25 ArcBest Consolidated – Diluted Earnings Per Share Amounts on a GAAP basis $ 2.30 $ 1.72 Innovative technology costs, after-tax (includes related fina
Slide 39: Asset-Light and Asset-Based Operating Income Reconciliations
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 39 Asset-Based A D D I T I O N A L I N F O R M A T I O N RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited) 3Q26 3Q25 Asset-Light – Operating Income (Loss) ($ millions) Amounts on a GAAP basis $ 12.5 $ (1.6) Purchase accounting amorti
Slide 40: Asset-Based Annual Reconciliations
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 40 Asset-Based A D D I T I O N A L I N F O R M A T I O N RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES* (Unaudited) 2019 2020 2021 2022 2023 2024 2025 3Q26 TTM Asset-Based Operating Income ($ millions, except percentages) Amounts on a GAAP b
Slide 41: Asset-Light Annual Reconciliations
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 41 Asset-Light A D D I T I O N A L I N F O R M A T I O N RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES* (Unaudited) 2019 2020 2021 2022 2023 2024 2025 3Q26 TTM Asset-Light – Operating Income (Loss) ($ millions) Amounts on a GAAP basis $ (20.
Slide 42: Consolidated Adjusted EBITDA Reconciliation
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 6 42 A D D I T I O N A L I N F O R M A T I O N RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES* (Unaudited) 2019 2020 2021 2022 2023 2024 2025 3Q26 TTM ArcBest Consolidated – Adjusted EBITDA (14) ($ millions) Net Income (Amounts on a GAAP basis)
Slide 43: Return on Capital Employed Reconciliation
RETURN ON CAPITAL EMPLOYED (ROCE)(19) 2019 2020 2021 2022 2023 2024 2025 3Q26 TTM (Unaudited, $ millions) Net Income (Amounts on a GAAP basis) $ 35.2 $ 67.3 $ 210.5 $ 294.6 $ 142.2 $ 173.4 $ 60.1 $ 28.7 Innovative technology costs, after-tax (includes related financing costs) (3) 15.7 19.6 24.9 30.8
Slide 44: Footnotes 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 represents gains on service center sales within the