ARCBEST CORP /DE/ (Form: 8-K, Received: 01/31/2025 06:03:13)

June 30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 31, 2025 (January 31, 2025)

ARCBEST CORPORATION

(Exact name of registrant as specified in its charter)


Delaware	0-19969	71-0673405
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
8401 McClure Drive Fort Smith, Arkansas (Address of principal executive offices)		72916 (Zip Code)

Registrant’s telephone number, including area code: (479) 785-6000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.

☐	Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock $0.01 Par Value	ARCB	Nasdaq

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

ITEM 2.02 – RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On January 31, 2025, ArcBest^® (Nasdaq: ARCB) (the “Company”) issued a press release announcing its unaudited fourth quarter 2024 and full year 2024 results. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. Additional supplemental information and presentation slides to be used in connection with the scheduled conference call to discuss the fourth quarter and full year results are furnished as Exhibit 99.2 and Exhibit 99.3 to this Current Report on Form 8-K and incorporated herein by reference.

The Company reports its financial results in accordance with generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP financial measures and ratios and other information utilized for internal analysis provide analysts, investors, and others the same information that we use internally for purposes of assessing the Company’s core operating performance and provide meaningful comparisons between current and prior period results, as well as important information regarding performance trends. The use of certain non-GAAP measures improves comparability in analyzing ArcBest’s performance because it removes the impact of items from operating results that, in management’s opinion, do not reflect ArcBest’s core operating performance.

The press release in Exhibit 99.1, the supplemental information in Exhibit 99.2, and the presentation slides in Exhibit 99.3 include certain non-GAAP information. Certain information discussed in the scheduled conference call could also be considered non-GAAP measures. Reconciliations of the non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in Exhibit 99.1 herein, including reconciliations of GAAP earnings and earnings per share to non-GAAP financial measures, reconciliations of GAAP to non-GAAP effective tax rates, and calculations of adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Reconciliations of non-GAAP measures included in the presentation slides to the most directly comparable GAAP financial measures are also included within Exhibit 99.3 herein.

Management believes EBITDA and Adjusted EBITDA to be relevant and useful information as EBITDA is a standard measure commonly reported and widely used by analysts, investors and others to measure financial performance and ability to service debt obligations. Additionally, Adjusted EBITDA is a primary component of the financial covenants contained in ArcBest’s credit agreement. Other companies may calculate EBITDA and Adjusted EBITDA differently; therefore, ArcBest’s calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, ArcBest’s reported results. These financial measures should not be construed as better measurements than operating income, operating cash flow, net income or earnings per share, as determined under GAAP.

ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS


Exhibit No.		Description of Exhibit

99.1		Press release of ArcBest dated January 31, 2025
99.2		Supplemental information dated January 31, 2025
99.3		Earnings conference call presentation dated January 31, 2025
104		Cover Page Interactive Data File – The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



		ARCBEST CORPORATION

		(Registrant)

Date:	January 31, 2025	/s/ Michael R. Johns
		Michael R. Johns
		Chief Legal Officer and Corporate Secretary

Exhibit 99.1


Investor Relations Contact: Amy Mendenhall	Media Contact: Autumnn Mahar
Phone: 479-785-6200	Phone: 479-494-8221
Email: invrel@arcb.com	Email: amahar@arcb.com

ArcBest Announces Fourth Quarter and Full Year 2024 Results

●	Productivity gains from technology, training, and network design

●	Continued focus on cost control initiatives to mitigate headwinds from challenging freight environment

●	Significant investments to enable growth, improve service, and increase efficiencies across the network while returning over $85 million to shareholders in 2024 through both share repurchases and dividends

FORT SMITH, Arkansas, January 31, 2025 — ArcBest^® (Nasdaq: ARCB), a leader in supply chain logistics, today reported fourth quarter 2024 revenue of $1.0 billion, compared to $1.1 billion in fourth quarter 2023. Net income was $29.0 million, or $1.24 per diluted share, compared to $48.8 million, or $2.01 per diluted share in the prior year. On a non-GAAP basis, fourth quarter 2024 net income was $31.2 million, or $1.33 per diluted share, compared to $60.0 million, or $2.47 per diluted share in the prior year.

ArcBest’s full year 2024 revenue totaled $4.2 billion compared to $4.4 billion in 2023. Net income from continuing operations was $173.4 million, or $7.28 per diluted share, including a $67.9 million after-tax benefit from the reduction in the fair value of contingent consideration related to a 2021 acquisition, compared to net income of $142.2 million, or $5.77 per diluted share in 2023. On a non-GAAP basis, full year 2024 net income was $149.7 million, or $6.28 per diluted share, compared to net income of $194.1 million, or $7.88 per diluted share, in 2023.

“Throughout 2024, we made significant progress on controlling costs, improving productivity, and enhancing our service quality,” said Judy R. McReynolds, ArcBest Chairman and CEO. “These achievements underscore our commitment to excellent execution and are yielding tangible results. I want to extend a heartfelt thank you to our dedicated employees, whose hard work and innovation have been pivotal in reaching these milestones. Together, we are well-positioned for continued growth and success.”

Results of Operations Comparisons

Asset-Based

Fourth Quarter 2024 Versus Fourth Quarter 2023

●

Revenue of $656.2 million compared to $710.0 million, a per-day decrease of 7.6 percent

●

Total tonnage per day decrease of 7.3 percent

●

Total shipments per day decrease of 1.1 percent

●

Total billed revenue per hundredweight increase of 0.6 percent

●

Operating income of $52.3 million and an operating ratio of 92.0 percent, compared to $87.5 million and an operating ratio of 87.7 percent

The Asset-Based segment generated $35.2 million less operating income than fourth quarter 2023. Fourth quarter tonnage declines were driven by a 6.3 percent decrease in weight per shipment and a 1.1 percent decrease in daily shipments. Prolonged manufacturing sector weakness continues to negatively impact weight per shipment metrics. Productivity improvements of 2.3 percent and other cost initiatives helped mitigate the impact of the soft market environment, higher insurance costs, and higher labor cost increases related to the annual union contract rate increase, which went into effect during the third quarter of 2024.

Contract renewals and deferred pricing agreements saw an average increase of 4.5% during the quarter. Price improvements were offset by declining fuel costs. Excluding fuel surcharges, revenue per hundredweight increased in the mid-single digits, year-over-year. Overall, LTL industry pricing remains rational.

Compared sequentially to the third quarter of 2024, fourth quarter 2024 revenue per day decreased 4.5 percent. Weight per shipment improved 0.6 percent and shipments per day declined by 2.6 percent, resulting in a 2.1 percent decrease in tonnage per day. Billed revenue per hundredweight was 2.9 percent lower, impacted by the increase in weight per shipment, reduced fuel prices, and the increase of project-related business. Lower tonnage, offset in part by cost savings, resulted in the operating ratio increase of 100 basis points sequentially, which was on the lower end of the historical seasonality range of a 100 to 200 basis point increase.

Asset-Light

Fourth Quarter 2024 Versus Fourth Quarter 2023

●

Revenue of $375.4 million compared to $413.4 million, a per-day decrease of 9.2 percent

●

Operating loss of $1.6 million, compared to operating loss of $7.7 million

●

On a non-GAAP basis, operating loss of $5.9 million compared to operating loss of $1.3 million

●

Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), as defined in the attached non-GAAP reconciliation tables, of negative $4.2 million compared to $0.7 million

Compared to the fourth quarter of 2023, Asset-Light revenues were impacted by lower revenue per shipment associated with the soft rate environment and a higher mix of managed transportation business, which has smaller shipment sizes and lower revenue per shipment metrics. Shipments per day were lower by 2.1 percent. The segment continues to benefit from productivity initiatives, as shipments per employee per day improved 20.8 percent, on a year-over-year basis, but the soft freight environment and excess truckload capacity continue to impact results.

Compared sequentially to third quarter 2024, fourth quarter 2024 shipments per day were down 1.4 percent, yet daily revenue was up by 0.6 percent as revenue per shipment increased 2.0 percent. Shipments per employee per day, improved by 5.8 percent, but purchased transportation costs as a percentage of revenue, increased and compressed margins. The $2.0 million sequential increase in non-GAAP operating loss was due primarily to the current truckload brokerage pricing environment.

Full Year Results of Operations Comparisons

Asset-Based

Full Year 2024 Versus Full Year 2023

●

Revenue of $2.8 billion, compared to $2.9 billion, a per-day decrease of 4.6 percent

●

Tonnage per day decrease of 14.3 percent

●

Shipments per day decrease of 3.3 percent

●

Total billed revenue per hundredweight increase of 11.7 percent

●

Operating income of $242.6 million and an operating ratio of 91.2 percent, compared to $253.2 million and an operating ratio of 91.2 percent

●

On a non-GAAP basis, operating income of $242.6 million and an operating ratio of 91.2 percent, compared to $275.5 million and an operating ratio of 90.4 percent

Asset-Light

Full Year 2024 Versus Full Year 2023

●

Revenue of $1.6 billion compared to $1.7 billion, a per-day decrease of 8.0 percent

●

Operating income of $58.4 million, including the $90.3 million pre-tax change in the fair value of contingent earnout consideration related to an earnout, compared to operating loss of $12.3 million

●

On a non-GAAP basis, operating loss of $17.1 million compared to operating income of $5.3 million

●

Adjusted EBITDA of negative $9.8 million compared to $12.9 million

Capital Expenditures

In 2024, total net capital expenditures, including equipment financed, were $288 million. This included $160 million of revenue equipment and $85 million in real estate, the majority of which was for ArcBest’s Asset-Based operation. Depreciation and amortization costs on property, plant and equipment were $136 million in 2024.

Share Repurchase and Quarterly Dividend Programs

ArcBest returned over $85 million to shareholders in 2024 through both share repurchases and dividends, while making significant organic capital investments in the business. As of January 29, 2025, ArcBest had $48.7 million of repurchase authorization remaining under the current stock repurchase program. Management plans to continue acting opportunistically on repurchases based on share price, balanced against prioritizing organic capital investments while maintaining reasonable leverage levels.

Conference Call

ArcBest will host a conference call with company executives to discuss the quarterly results. The call will be today, Friday, January 31, 2025 at 9:30 a.m. EST (8:30 a.m. CST). Interested parties are invited to listen by calling (800) 715-9871 or by joining the webcast which can be found on ArcBest’s website at arcb.com. Slides to accompany this call are included in Exhibit 99.3 of the Form 8-K filed on January 31, 2025, will be posted and available to download on the company’s website prior to the scheduled conference time, and will be included in the webcast. Following the call, a recorded playback will be available through the end of the day on February 14, 2025. To listen to the playback, dial (800) 770-2030. The conference call ID for the live conference call and the playback is 7688695. The conference call and playback can also be accessed through February 14, 2025 on ArcBest’s website at arcb.com.

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 is developing ground-breaking technology like Vaux™, one of the TIME Best Inventions of 2023. 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,” “estimate,” “expect,” “forecast,” “foresee,” “intend,” “may,” “plan,” “predict,” “project,” “scheduled,” “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. 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: the effects of a widespread outbreak of an illness or disease or any other public health crisis, as well as regulatory measures implemented in response to such events; 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, acts of war or terrorism, or military conflicts; data privacy breaches, cybersecurity incidents, and/or failures of our information systems, including disruptions or failures of services essential to our operations or upon which our information technology platforms rely; interruption or failure of third-party software or information technology systems or licenses; untimely or ineffective development and implementation of, or failure to realize the potential benefits associated with, new or enhanced technology or processes, including our customer pilot offering of Vaux; the loss or reduction of business from 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 any recent or future acquisitions and the inability to realize the anticipated benefits of the acquisition within the expected time period or at all; unsolicited takeover proposals, proxy contests, and other proposals/actions by activist investors; maintaining our corporate reputation and intellectual property rights; nationwide or global disruption in the supply chain resulting in increased volatility in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of equipment, including new revenue equipment, decreases in value of used 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; governmental regulations; environmental laws and regulations, including emissions-control 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; 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; increasing costs due to inflation and higher interest rates; 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 8K.

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				Year Ended
	December 31				December 31
	2024		2023		2024		2023

	(Unaudited)
	($ thousands, except share and per share data)
REVENUES	$	1,001,645	$	1,089,535	$	4,179,019	$	4,427,443

OPERATING EXPENSES		963,484		1,025,282		3,934,585		4,254,824

OPERATING INCOME		38,161		64,253		244,434		172,619

OTHER INCOME (COSTS)
Interest and dividend income		1,932		4,124		11,618		14,728
Interest and other related financing costs		(2,393)		(2,326)		(8,980)		(9,094)
Other, net		(240)		1,755		(28,358)		8,662
		(701)		3,553		(25,720)		14,296

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		37,460		67,806		218,714		186,915

INCOME TAX PROVISION		8,425		19,016		45,353		44,751

NET INCOME FROM CONTINUING OPERATIONS		29,035		48,790		173,361		142,164

INCOME FROM DISCONTINUED OPERATIONS, net of tax⁽¹⁾		—		—		600		53,269

NET INCOME	$	29,035	$	48,790	$	173,961	$	195,433

BASIC EARNINGS PER COMMON SHARE⁽²⁾
Continuing operations	$	1.24	$	2.06	$	7.36	$	5.92
Discontinued operations⁽¹⁾		—		—		0.03		2.22
	$	1.24	$	2.06	$	7.39	$	8.14

DILUTED EARNINGS PER COMMON SHARE⁽²⁾
Continuing operations	$	1.24	$	2.01	$	7.28	$	5.77
Discontinued operations⁽¹⁾		—		—		0.03		2.16
	$	1.24	$	2.01	$	7.30	$	7.93

AVERAGE COMMON SHARES OUTSTANDING
Basic		23,410,038		23,713,434		23,553,410		24,018,801
Diluted		23,491,715		24,248,584		23,820,175		24,634,617

Represents the discontinued operations of FleetNet America^® (“FleetNet”), which sold on February 28, 2023. The year ended December 31, 2024 represents adjustments related to the prior year gain on sale of FleetNet. The year ended December 31, 2023 includes the net gain on sale of FleetNet of $52.3 million after-tax, or $2.18 basic earnings per share and $2.12 diluted earnings per share.

2)	Earnings per common share is calculated in total and may not equal the sum of earnings per common share from continuing operations and discontinued operations due to rounding.

ARCBEST CORPORATION

CONSOLIDATED BALANCE SHEETS


	December 31		December 31
	2024		2023
	(Unaudited)		Note
	($ thousands, except share data)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	127,444	$	262,226
Short-term investments		29,759		67,842
Accounts receivable, less allowances (2024 - $8,257; 2023 - $10,346)		394,838		430,122
Other accounts receivable, less allowances (2024 - $648; 2023 - $731)		36,055		52,124
Prepaid expenses		47,860		37,034
Prepaid and refundable income taxes		28,641		24,319
Other		11,045		11,116
TOTAL CURRENT ASSETS		675,642		884,783

PROPERTY, PLANT AND EQUIPMENT
Land and structures		520,119		460,068
Revenue equipment		1,166,161		1,126,055
Service, office, and other equipment		351,907		319,466
Software		182,396		173,354
Leasehold improvements		32,263		24,429
		2,252,846		2,103,372
Less allowances for depreciation and amortization		1,186,800		1,188,548
PROPERTY, PLANT AND EQUIPMENT, net		1,066,046		914,824

GOODWILL		304,753		304,753
INTANGIBLE ASSETS, net		88,615		101,150
OPERATING RIGHT-OF-USE ASSETS		192,753		169,999
DEFERRED INCOME TAXES		9,536		8,140
OTHER LONG-TERM ASSETS		92,386		101,445
TOTAL ASSETS	$	2,429,731	$	2,485,094

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	172,763	$	214,004
Income taxes payable		—		10,410
Accrued expenses		394,880		378,029
Current portion of long-term debt		63,978		66,948
Current portion of operating lease liabilities		34,364		32,172
TOTAL CURRENT LIABILITIES		665,985		701,563

LONG-TERM DEBT, less current portion		125,156		161,990
OPERATING LEASE LIABILITIES, less current portion		189,978		176,621
POSTRETIREMENT LIABILITIES, less current portion		13,361		13,319
CONTINGENT CONSIDERATION		2,650		92,900
DEFERRED INCOME TAXES		78,649		55,785
OTHER LONG-TERM LIABILITIES		39,590		40,553

STOCKHOLDERS’ EQUITY
Common stock, $0.01 par value, authorized 70,000,000 shares; issued 2024: 30,401,768 shares; 2023: 30,024,125 shares		304		300
Additional paid-in capital		329,575		340,961
Retained earnings		1,435,250		1,272,584
Treasury stock, at cost, 2024: 7,114,844 shares; 2023: 6,460,137 shares		(451,039)		(375,806)
Accumulated other comprehensive income		272		4,324
TOTAL STOCKHOLDERS’ EQUITY		1,314,362		1,242,363
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,429,731	$	2,485,094

Note: The balance sheet at December 31, 2023 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


	Year Ended
	December 31
	2024		2023

	(Unaudited)
	($ thousands)
OPERATING ACTIVITIES
Net income	$	173,961	$	195,433
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		136,265		132,900
Amortization of intangibles		12,822		12,829
Share-based compensation expense		11,355		11,438
Provision for losses on accounts receivable		4,834		3,630
Change in deferred income taxes		22,437		(5,566)
(Gain) loss on sale of property and equipment		(2,176)		4,797
Pre-tax gain on sale of discontinued operations		(806)		(70,201)
Asset impairment charges		1,700		30,162
Change in fair value of contingent consideration		(90,250)		(19,100)
Change in fair value of equity investment		28,739		(3,739)
Changes in operating assets and liabilities:
Receivables		45,499		41,189
Prepaid expenses		(11,214)		2,563
Other assets		(4,120)		3,830
Income taxes		(14,956)		(10,657)
Operating right-of-use assets and lease liabilities, net		(7,205)		2,920
Accounts payable, accrued expenses, and other liabilities		(21,039)		(10,261)
NET CASH PROVIDED BY OPERATING ACTIVITIES		285,846		322,167

INVESTING ACTIVITIES
Purchases of property, plant and equipment, net of financings		(223,103)		(219,021)
Proceeds from sale of property and equipment		15,373		7,763
Proceeds from sale of discontinued operations		—		100,949
Purchases of short-term investments		(29,236)		(96,537)
Proceeds from sale of short-term investments		66,584		198,120
Capitalization of internally developed software		(16,897)		(12,977)
NET CASH USED IN INVESTING ACTIVITIES		(187,279)		(21,703)

FINANCING ACTIVITIES
Payments on long-term debt		(120,518)		(69,180)
Net change in book overdrafts		(3,504)		(14,101)
Deferred financing costs		(62)		55
Payment of common stock dividends		(11,295)		(11,542)
Purchases of treasury stock		(75,233)		(91,531)
Payments for tax withheld on share-based compensation		(22,737)		(10,311)
NET CASH USED IN FINANCING ACTIVITIES		(233,349)		(196,610)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(134,782)		103,854
Cash and cash equivalents of continuing operations at beginning of period		262,226		158,264
Cash and cash equivalents of discontinued operations at beginning of period		—		108
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	127,444	$	262,226

NONCASH INVESTING ACTIVITIES
Equipment financed	$	80,714	$	33,495
Accruals for equipment received	$	463	$	1,727
Lease liabilities arising from obtaining right-of-use assets	$	49,452	$	62,425

Note: The statements of cash flows for the year ended December 31, 2024 and 2023 include cash flows from continuing operations and cash flows from discontinued operations of FleetNet, which sold on February 28, 2023.

ARCBEST CORPORATION

FINANCIAL STATEMENT OPERATING SEGMENT DATA AND OPERATING RATIOS


	Three Months Ended								Year Ended
	December 31								December 31
	2024				2023				2024				2023

	(Unaudited)
	($ thousands, except percentages)
REVENUES FROM CONTINUING OPERATIONS
Asset-Based	$	656,220			$	709,986			$	2,750,134			$	2,871,004
Asset-Light		375,432				413,425				1,552,936				1,680,645
Other and eliminations		(30,007)				(33,876)				(124,051)				(124,206)
Total consolidated revenues from continuing operations	$	1,001,645			$	1,089,535			$	4,179,019			$	4,427,443

OPERATING EXPENSES FROM CONTINUING OPERATIONS
Asset-Based
Salaries, wages, and benefits	$	331,345	50.5	%	$	342,031	48.2	%	$	1,387,491	50.5	%	$	1,379,756	48.1	%
Fuel, supplies, and expenses		73,374	11.2			84,677	11.9			316,526	11.5			361,355	12.6
Operating taxes and licenses		13,432	2.0			13,980	2.0			54,056	2.0			55,918	1.9
Insurance		21,345	3.3			12,209	1.7			72,610	2.6			52,025	1.8
Communications and utilities		5,332	0.8			4,702	0.6			19,336	0.7			19,288	0.7
Depreciation and amortization		29,401	4.5			27,444	3.9			110,021	4.0			104,165	3.6
Rents and purchased transportation		64,726	9.8			66,676	9.4			274,312	10.0			338,575	11.8
Shared services		63,560	9.7			69,468	9.8			270,182	9.8			279,248	9.7
(Gain) loss on sale of property and equipment and asset impairment charges⁽¹⁾		827	0.1			77	—			(803)	—			982	—
Innovative technology costs⁽²⁾		—	—			—	—			—	—			21,711	0.8
Other		543	0.1			1,189	0.2			3,800	0.1			4,829	0.2
Total Asset-Based		603,885	92.0	%		622,453	87.7	%		2,507,531	91.2	%		2,617,852	91.2	%

Asset-Light
Purchased transportation	$	325,307	86.6	%	$	357,122	86.4	%	$	1,339,783	86.3	%	$	1,435,604	85.4	%
Salaries, wages, and benefits⁽³⁾		27,493	7.3			30,395	7.4			118,983	7.7			129,083	7.7
Supplies and expenses		1,953	0.5			2,934	0.7			10,232	0.6			12,094	0.7
Depreciation and amortization⁽⁴⁾		4,908	1.3			5,120	1.2			20,062	1.3			20,370	1.2
Shared services⁽³⁾		17,228	4.6			16,076	3.9			68,346	4.4			65,308	3.9
Contingent consideration⁽⁵⁾		(9,510)	(2.5)			(6,300)	(1.5)			(90,250)	(5.8)			(19,100)	(1.1)
Asset impairment charges⁽⁶⁾		1,700	0.5			—	—			1,700	0.1			14,407	0.9
Legal settlement⁽⁷⁾		274	0.1			9,500	2.3			274	—			9,500	0.6
Other⁽³⁾		7,658	2.0			6,234	1.5			25,362	1.6			25,650	1.4
Total Asset-Light		377,011	100.4	%		421,081	101.9	%		1,494,492	96.2	%		1,692,916	100.7	%

Other and eliminations⁽⁸⁾		(17,412)				(18,252)				(67,438)				(55,944)
Total consolidated operating expenses from continuing operations	$	963,484	96.2	%	$	1,025,282	94.1	%	$	3,934,585	94.2	%	$	4,254,824	96.1	%

OPERATING INCOME (LOSS) FROM CONTINUING OPERATIONS
Asset-Based	$	52,335			$	87,533			$	242,603			$	253,152
Asset-Light		(1,579)				(7,656)				58,444				(12,271)
Other and eliminations⁽⁸⁾		(12,595)				(15,624)				(56,613)				(68,262)
Total consolidated operating income from continuing operations	$	38,161			$	64,253			$	244,434			$	172,619

1)	The year ended December 31, 2023 include $0.7 million of noncash lease-related impairment charges for a service center.

2)	Represents costs associated with the freight handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023.

3)	For the 2023 periods, certain expenses have been reclassed to conform to the current year presentation, including amounts previously reported in “Shared services” that were reclassed to present “Salaries, wages, and benefits” expenses in a separate line item.

4)	Includes amortization of intangibles associated with acquired businesses.

Represents the change in fair value of the contingent earnout consideration recorded for the MoLo acquisition. The liability for contingent consideration is remeasured at each quarterly reporting date, and any change in fair value as a result of the recurring assessments is recognized in operating income (loss). The contingent consideration for the MoLo acquisition will be paid based on achievement of certain targets of adjusted earnings before interest, taxes, depreciation, and amortization, as adjusted for certain items pursuant to the merger agreement, for years 2023 through 2025, including catch-up provisions.

The 2024 periods represent noncash asset impairment charges for certain revenue equipment and software recognized during fourth quarter 2024 as part of a strategic decision to adjust capacity within Asset-Light’s operations. The 2023 period represents noncash lease-related impairment charges for certain office spaces that were made available for sublease.

7)	Represents settlement expenses related to the classification of certain Asset-Light employees under the Fair Labor Standards Act, which were paid during first quarter 2025.

“Other and eliminations” 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. The 2023 period also includes $15.1 million of noncash lease-related impairment charges for a freight handling pilot facility.

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 performance measures and ratios utilized for internal analysis provide analysts, investors, and others the same information that we use internally for purposes of assessing our core operating performance and provides meaningful comparisons between current and prior period results, as well as important information regarding performance trends. Accordingly, non-GAAP results are presented on a continuing operations basis, excluding the discontinued operations of FleetNet, which sold on February 28, 2023. The use of certain non-GAAP measures improves comparability in analyzing our performance because it removes the impact of items from operating results that, in management's opinion, do not reflect our core operating performance. Other companies may calculate non-GAAP measures differently; therefore, our calculation may not be comparable to similarly titled measures of other companies. 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 for, our reported results. These financial measures should not be construed as better measurements than operating income, net income or earnings per share, as determined under GAAP.


	Three Months Ended				Year Ended
	December 31				December 31
	2024		2023		2024		2023

ArcBest Corporation - Consolidated	(Unaudited)
	($ thousands, except per share data)
Operating Income from Continuing Operations
Amounts on GAAP basis	$	38,161	$	64,253	$	244,434	$	172,619
Innovative technology costs, pre-tax⁽¹⁾		7,560		11,005		34,081		52,363
Purchase accounting amortization, pre-tax⁽²⁾		3,192		3,192		12,768		12,768
Change in fair value of contingent consideration, pre-tax⁽³⁾		(9,510)		(6,300)		(90,250)		(19,100)
Asset impairment charges, pre-tax⁽⁴⁾		1,700		—		1,700		30,162
Legal settlement, pre-tax⁽⁵⁾		274		9,500		274		9,500
Non-GAAP amounts	$	41,377	$	81,650	$	203,007	$	258,312

Net Income from Continuing Operations
Amounts on GAAP basis	$	29,035	$	48,790	$	173,361	$	142,164
Innovative technology costs, after-tax (includes related financing costs)⁽¹⁾		5,780		8,364		26,111		39,680
Purchase accounting amortization, after-tax⁽²⁾		2,401		2,399		9,603		9,593
Change in fair value of contingent consideration, after-tax⁽³⁾		(7,152)		(4,733)		(67,875)		(14,350)
Asset impairment charges, after-tax⁽⁴⁾		1,278		—		1,278		22,571
Legal settlement, after-tax⁽⁵⁾		206		7,137		206		7,137
Change in fair value of equity investment, after-tax⁽⁶⁾		—		—		21,603		(2,786)
Life insurance proceeds and changes in cash surrender value		(311)		(1,787)		(3,317)		(4,581)
Tax benefit from vested RSUs⁽⁷⁾		(38)		(187)		(11,311)		(5,290)
Non-GAAP amounts	$	31,199	$	59,983	$	149,659	$	194,138

Diluted Earnings Per Share from Continuing Operations
Amounts on GAAP basis	$	1.24	$	2.01	$	7.28	$	5.77
Innovative technology costs, after-tax (includes related financing costs)⁽¹⁾		0.25		0.34		1.10		1.61
Purchase accounting amortization, after-tax⁽²⁾		0.10		0.10		0.40		0.39
Change in fair value of contingent consideration, after-tax⁽³⁾		(0.30)		(0.20)		(2.85)		(0.58)
Asset impairment charges, after-tax⁽⁴⁾		0.05		—		0.05		0.92
Legal settlement, after-tax⁽⁵⁾		0.01		0.29		0.01		0.29
Change in fair value of equity investment, after-tax⁽⁶⁾		—		—		0.91		(0.11)
Life insurance proceeds and changes in cash surrender value		(0.01)		(0.07)		(0.14)		(0.19)
Tax benefit from vested RSUs⁽⁷⁾		—		(0.01)		(0.47)		(0.21)
Non-GAAP amounts⁽⁸⁾	$	1.33	$	2.47	$	6.28	$	7.88

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								Year Ended
	December 31								December 31
	2024				2023				2024				2023

Segment Operating Income (Loss) Reconciliations	(Unaudited)
	($ thousands, except percentages)
Asset-Based Segment
Operating Income ($) and Operating Ratio (% of revenues)
Amounts on GAAP basis	$	52,335	92.0	%	$	87,533	87.7	%	$	242,603	91.2	%	$	253,152	91.2	%
Innovative technology costs, pre-tax⁽⁹⁾		—	—			—	—			—	—			21,711	(0.8)
Asset impairment charges, pre-tax⁽⁴⁾		—	—			—	—			—	—			684	—
Non-GAAP amounts⁽⁸⁾	$	52,335	92.0	%	$	87,533	87.7	%	$	242,603	91.2	%	$	275,547	90.4	%


Asset-Light Segment
Operating Income (Loss) ($) and Operating Ratio (% of revenues)
Amounts on GAAP basis	$	(1,579)	100.4	%	$	(7,656)	101.9	%	$	58,444	96.2	%	$	(12,271)	100.7	%
Purchase accounting amortization, pre-tax⁽²⁾		3,192	(0.9)			3,192	(0.8)			12,768	(0.8)			12,768	(0.8)
Change in fair value of contingent consideration, pre-tax⁽³⁾		(9,510)	2.5			(6,300)	1.5			(90,250)	5.8			(19,100)	1.1
Asset impairment charges, pre-tax⁽⁴⁾		1,700	(0.5)			—	—			1,700	(0.1)			14,407	(0.9)
Legal settlement, pre-tax⁽⁵⁾		274	(0.1)			9,500	(2.3)			274	—			9,500	(0.6)
Non-GAAP amounts⁽⁸⁾	$	(5,923)	101.6	%	$	(1,264)	100.3	%	$	(17,064)	101.1	%	$	5,304	99.7	%


Other and Eliminations
Operating Income (Loss) ($)
Amounts on GAAP basis	$	(12,595)			$	(15,624)			$	(56,613)			$	(68,262)
Innovative technology costs, pre-tax⁽¹⁾		7,560				11,005				34,081				30,652
Asset impairment charges, pre-tax⁽⁴⁾		—				—				—				15,071
Non-GAAP amounts	$	(5,035)			$	(4,619)			$	(22,532)			$	(22,539)

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 December 31, 2024

Other

Income

CONTINUING OPERATIONS

Operating

Income

Before Income

Tax

Net

Income

(Costs)

Taxes

Provision

Income

Tax Rate⁽¹⁰⁾

Amounts on GAAP basis

38,161

(701)

37,460

8,425

29,035

22.5

Innovative technology costs⁽¹⁾

7,560

126

7,686

1,906

5,780

24.8

Purchase accounting amortization⁽²⁾

3,192

—

3,192

791

2,401

24.8

Change in fair value of contingent consideration⁽³⁾

(9,510)

—

(9,510)

(2,358)

(7,152)

(24.8)

Asset impairment charges⁽⁴⁾

1,700

—

1,700

422

1,278

24.8

Legal settlement⁽⁵⁾

274

—

274

206

24.8

Life insurance proceeds and changes in cash surrender value

—

(311)

—

(311)

—

Tax benefit from vested RSUs⁽⁷⁾

—

(38)

—

Non-GAAP amounts

41,377

(886)

40,491

9,292

31,199

22.9

Year Ended December 31, 2024

Other

Income

Operating

Income

Before Income

Tax

Net

Income

(Costs)

Taxes

Provision

Income

Tax Rate⁽¹⁰⁾

Amounts on GAAP basis

244,434

(25,720)

218,714

45,353

173,361

20.7

Innovative technology costs⁽¹⁾

34,081

637

34,718

8,607

26,111

24.8

Purchase accounting amortization⁽²⁾

12,768

—

12,768

3,165

9,603

24.8

Change in fair value of contingent consideration⁽³⁾

(90,250)

—

(90,250)

(22,375)

(67,875)

(24.8)

Asset impairment charges⁽⁴⁾

1,700

—

1,700

422

1,278

24.8

Legal settlement⁽⁵⁾

274

—

274

206

24.8

Change in fair value of equity investment⁽⁶⁾

—

28,739

7,136

21,603

24.8

Life insurance proceeds and changes in cash surrender value

—

(3,317)

—

(3,317)

—

Tax benefit from vested RSUs⁽⁷⁾

—

11,311

(11,311)

—

Non-GAAP amounts

203,007

339

203,346

53,687

149,659

26.4


	Three Months Ended December 31, 2023
			Other		Income		Income
CONTINUING OPERATIONS	Operating		Income		Before Income		Tax		Net
	Income		(Costs)		Taxes		Provision		Income		Tax Rate⁽¹⁰⁾
Amounts on GAAP basis	$	64,253	$	3,553	$	67,806	$	19,016	$	48,790	28.0	%
Innovative technology costs⁽¹⁾		11,005		211		11,216		2,852		8,364	25.4
Purchase accounting amortization⁽²⁾		3,192		—		3,192		793		2,399	24.9
Change in fair value of contingent consideration⁽³⁾		(6,300)		—		(6,300)		(1,567)		(4,733)	(24.9)
Legal settlement⁽⁵⁾		9,500		—		9,500		2,363		7,137	24.9
Life insurance proceeds and changes in cash surrender value		—		(1,787)		(1,787)		—		(1,787)	—
Tax benefit from vested RSUs⁽⁷⁾		—		—		—		187		(187)	—
Non-GAAP amounts	$	81,650	$	1,977	$	83,627	$	23,644	$	59,983	28.3	%


	Year Ended December 31, 2023
			Other		Income		Income
	Operating		Income		Before Income		Tax		Net
	Income		(Costs)		Taxes		Provision		Income		Tax Rate⁽¹⁰⁾
Amounts on GAAP basis	$	172,619	$	14,296	$	186,915	$	44,751	$	142,164	23.9	%
Innovative technology costs⁽¹⁾		52,363		937		53,300		13,620		39,680	25.6
Purchase accounting amortization⁽²⁾		12,768		—		12,768		3,175		9,593	24.9
Change in fair value of contingent consideration⁽³⁾		(19,100)		—		(19,100)		(4,750)		(14,350)	(24.9)
Asset impairment charges⁽⁴⁾		30,162		—		30,162		7,591		22,571	25.2
Legal settlement⁽⁵⁾		9,500		—		9,500		2,363		7,137	24.9
Change in fair value of equity investment⁽⁶⁾		—		(3,739)		(3,739)		(953)		(2,786)	(25.5)
Life insurance proceeds and changes in cash surrender value		—		(4,581)		(4,581)		—		(4,581)	—
Tax benefit from vested RSUs⁽⁷⁾		—		—		—		5,290		(5,290)	—
Non-GAAP amounts	$	258,312	$	6,913	$	265,225	$	71,087	$	194,138	26.8	%

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)

Management uses Adjusted EBITDA as a key measure of performance and for business planning. The measure is particularly meaningful for analysis of operating performance because it excludes amortization of acquired intangibles and software of the Asset-Light segment, changes in the fair values of contingent consideration and equity investment, and asset impairment charges, which are significant expenses or gains resulting from strategic decisions or other factors rather than core daily operations. Additionally, Adjusted EBITDA is a primary component of the financial covenants contained in our credit agreement. The calculation of Consolidated Adjusted EBITDA as presented below begins with net income from continuing operations, 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 taxes, and net income from continuing operations 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				Year Ended
	December 31					December 31
	2024		2023		2024		2023

	(Unaudited)
	($ thousands)
ArcBest Corporation - Consolidated Adjusted EBITDA from Continuing Operations
Net Income from Continuing Operations	$	29,035	$	48,790	$	173,361	$	142,164
Interest and other related financing costs		2,393		2,326		8,980		9,094
Income tax provision		8,425		19,016		45,353		44,751
Depreciation and amortization⁽¹¹⁾		39,367		37,387		149,087		145,349
Amortization of share-based compensation		2,315		2,848		11,355		11,385
Change in fair value of contingent consideration⁽³⁾		(9,510)		(6,300)		(90,250)		(19,100)
Asset impairment charges⁽⁴⁾		1,700		—		1,700		30,162
Legal settlement⁽⁵⁾		274		9,500		274		9,500
Change in fair value of equity investment⁽⁶⁾		—		—		28,739		(3,739)
Consolidated Adjusted EBITDA from Continuing Operations	$	73,999	$	113,567	$	328,599	$	369,566

Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this ArcBest Corporation – Consolidated Adjusted EBITDA from Continuing Operations non-GAAP table.


	Three Months Ended				Year Ended
	December 31				December 31
	2024		2023		2024		2023

	(Unaudited)
	($ thousands)
Asset-Light Adjusted EBITDA
Operating Income (Loss)	$	(1,579)	$	(7,656)	$	58,444	$	(12,271)
Depreciation and amortization⁽¹¹⁾		4,908		5,120		20,062		20,370
Change in fair value of contingent consideration⁽³⁾		(9,510)		(6,300)		(90,250)		(19,100)
Asset impairment charges⁽⁴⁾		1,700		—		1,700		14,407
Legal settlement⁽⁵⁾		274		9,500		274		9,500
Asset-Light Adjusted EBITDA	$	(4,207)	$	664	$	(9,770)	$	12,906

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.

Represents costs related to our customer pilot offering of Vaux and initiatives to optimize our performance through technological innovation. The 2023 period also includes costs associated with the freight handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023.

2)	Represents the amortization of acquired intangible assets in the Asset-Light segment.

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. As of December 31, 2024, the decrease in fair value reflects the reduction in payout assumptions projected for the earnout in 2025, due to the continued soft truckload environment and the latest industry expectations for a truckload market recovery being pushed further into 2025 than previously estimated.

The 2024 periods represent noncash asset impairment charges for certain revenue equipment and software recognized during fourth quarter 2024 as part of a strategic decision to adjust capacity within Asset-Light’s operations. The 2023 period represents noncash lease-related impairment charges for a freight handling pilot facility reported in “Other”, an Asset-Based service center, and Asset-Light office spaces that were made available for sublease.

5)	Represents settlement expenses related to the classification of certain Asset-Light employees under the Fair Labor Standards Act, which were paid during first quarter 2025.

For the year ended December 31, 2024, represents a noncash impairment charge to write off an equity investment in Phantom Auto, a provider of human-centered remote operation software, which ceased operations during first quarter 2024. For the year ended December 31, 2023, represents the increase in fair value of an investment in Phantom Auto based on observable price changes during second quarter 2023.

7)	Represents recognition of the tax impact for the vesting of share-based compensation.

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)	Represents costs associated with the freight handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023.

10)

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.

11)	Includes amortization of intangibles associated with acquired businesses.

ARCBEST CORPORATION

OPERATING STATISTICS


	Three Months Ended					Year Ended
	December 31					December 31
	2024		2023		% Change	2024		2023		% Change

	(Unaudited)
Asset-Based

Workdays		61.5		61.5			252.5		251.5

Billed Revenue⁽¹⁾ / CWT	$	49.27	$	48.98	0.6%	$	49.68	$	44.46	11.7%

Billed Revenue⁽¹⁾ / Shipment	$	538.20	$	570.64	(5.7%)	$	548.81	$	554.53	(1.0%)

Tonnage / Day		10,758		11,602	(7.3%)		10,968		12,803	(14.3%)

Shipments / Day		19,698		19,915	(1.1%)		19,856		20,529	(3.3%)

Shipments / DSY hour		0.441		0.431	2.3%		0.444		0.425	4.5%

Weight / Shipment		1,092		1,165	(6.3%)		1,105		1,247	(11.4%)

Average Length of Haul (Miles)		1,116		1,078	3.5%		1,126		1,092	3.1%

Revenue for undelivered freight is deferred for financial statement purposes in accordance with the Asset-Based segment revenue recognition policy. Billed revenue used for calculating revenue per hundredweight measurements has not been adjusted for the portion of revenue deferred for financial statement purposes.


	Year Over Year % Change
	Three Months Ended		Year Ended
	December 31, 2024		December 31, 2024
	(Unaudited)
Asset-Light

Revenue / Shipment		(7.2%)		(12.8%)

Shipments / Day		(2.1%)		5.5%

Shipments / Employee / Day		20.8%		24.2%

###

Exhibit 99.2

ArcBest^® is providing this exhibit as supplemental information to its scheduled conference call and the press release announcing the Company’s unaudited fourth quarter 2024 results filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K. Certain statements and information in this exhibit may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Refer to the “Forward-Looking Statements” disclosure at the end of this exhibit.

Non-GAAP Financial Measures

ArcBest reports its financial results in accordance with generally accepted accounting principles (“GAAP”); however, this exhibit includes certain non-GAAP information. Refer to the discussion of non-GAAP information included in Item 2.02 of the Current Report on Form 8-K to which this exhibit is included for further information, including reference to reconciliations of GAAP to non-GAAP financial measures provided by the Company.

Summary Operating and Financial Impacts

●

Statistics for January 2025 have not been finalized and are preliminary.

●

There were 22.0 workdays in January 2025, and there were 22.0 workdays in January 2024.

●

There will be 63.0 workdays in 1Q’25, and there were 63.5 workdays in 1Q’24.

Asset-Based Operating Segment

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Average price increase on contract renewals and deferred pricing agreements negotiated during 4Q’24: +4.5%

Year-over-Year Business Trends


	October 2024		November 2024		December 2024		January 2025

Billed Revenue/Day⁽¹⁾	-11.2	%	-6.7	%	-0.9	%	-4	%
Total Tons/Day	-8.7	%	-6.2	%	-6.6	%	-11	%
Total Shipments/Day	-3.0	%	-0.7	%	+0.8	%	-3	%
Total Billed Revenue/CWT	-2.7	%	-0.5	%	+6.0	%	+8	%
Total Billed Revenue/Shipment	-8.4	%	-6.1	%	-1.7	%	-1	%
Total Weight/Shipment	-5.9	%	-5.6	%	-7.3	%	-8	%

1)	Revenue for undelivered freight is deferred for financial statement purposes in accordance with the Asset-Based segment revenue recognition policy. Billed revenue per day has not been adjusted for the portion of revenue deferred for financial statement purposes.

In January 2025, ArcBest’s Asset-Based segment experienced lower tonnage and shipment levels compared to the same period last year. As the manufacturing economy remains soft and truckload prices remain low, the segment continues to experience a reduction in heavier-weight LTL shipments and fewer household goods moves, which contributes to a lower weight per shipment and higher revenue per hundredweight. The pricing environment remains rational.

From December to January, tonnage per day decreased 6%, shipments per day decreased by 2%, and weight per shipment decreased 4%. Revenue per hundredweight, both including and excluding fuel surcharges, increased by 2%.

Excluding pandemic-affected periods, the average sequential change in the Asset-Based segment's operating ratio from the fourth quarter to the first quarter over the past decade has typically ranged from an increase of 350 to 400 basis points. The segment’s first quarter operating ratio increase is expected to stay within this historical range.

Asset-Light Operating Segment

Year-over-Year Business Trends


	October 2024		November 2024		December 2024		January 2025

Revenue/Day (Year-over-Year)	-13.6	%	-6.4	%	-6.5	%	-6	%
Shipments/Day (Year-over-Year)	-4.5	%	+0.2	%	-1.5	%	-3	%
Revenue/Shipment (Year-over-Year)	-9.6	%	-6.6	%	-5.1	%	-3	%
Purchased Transportation Expense as a % of Revenue	86.1	%	86.6	%	87.4	%	87	%

In January 2025, ArcBest’s Asset-Light segment saw a year-over-year decrease in daily revenue, primarily due to lower shipments per day from winter weather and a strategic reduction in less profitable truckload volumes, that is offsetting the continued strength in Managed. The reduction in revenue per shipment was from soft freight market conditions and a higher proportion of Managed business, which typically involves smaller shipment sizes and lower revenue per shipment.

Sequentially, from December to January, daily revenue decreased by 6%, revenue per shipment decreased by 3% and shipments per day decreased by 4%.

Despite improvements in productivity, continued softness in the truckload brokerage market is expected to result in a non-GAAP Asset-Light operating loss of approximately $4 million to $6 million for first quarter 2025. This estimate excludes impacts from changes in the fair value of contingent consideration and purchase accounting amortization. ArcBest does not provide forward-looking guidance for certain financial measures on a GAAP basis due to the unpredictability of certain items, including changes in the fair value of contingent consideration.

As part of the MoLo acquisition, additional cash consideration is contingent on achieving specific adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) targets for 2023, 2024, and 2025. The fair value of this contingent consideration is estimated using a Monte Carlo simulation, which factors in various revenue and EBITDA scenarios, volatility, and discount rates. Significant changes in these inputs could result in a higher or lower fair value at the next reporting date.

Additional Detailed Information

Consolidated Capital Expenditures 2024 Actual

●

Total Net Capital Expenditures, including financed equipment: $288 million

o

Includes revenue equipment purchases (majority for Asset-Based) of $160 million

o

Includes real estate expenditures of $85 million

o

The remaining amount of capital expenditures includes items related to technology and miscellaneous dock equipment upgrades and enhancements.

●

Depreciation and amortization costs on property, plant and equipment: $136 million

●

Intangible asset amortization, primarily reflecting purchase accounting amortization related to the MoLo acquisition: $13 million

Consolidated Capital Expenditures 2025 Projected

●

Total Net Capital Expenditures, including financed equipment: $225 million to $275 million

o

Includes revenue equipment purchases (majority for Asset-Based) of $130 million to $140 million

o

Includes real estate expenditures of $60 million to $80 million

o

The remaining amount of capital expenditures includes items related to technology and miscellaneous dock equipment upgrades and enhancements.

●

Depreciation and amortization costs on property, plant and equipment: approximately $164 million

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Intangible asset amortization, primarily reflecting purchase accounting amortization related to the MoLo acquisition: $13 million

Share Repurchase Program

Based on repurchases settled through Wednesday, January 29, 2025, $48.7 million remains available under the current repurchase authorization for future common stock purchases.

Tax Rate

ArcBest’s fourth quarter 2024 effective GAAP tax rate for continuing operations was 22.5%. The “Effective Tax Rate Reconciliation” table of ArcBest’s fourth quarter 2024 earnings press release in Exhibit 99.1 shows the reconciliation of GAAP to non-GAAP effective tax rates. The effective non-GAAP tax rate for fourth quarter 2024 was 22.9%. Under the current tax laws, we expect our full year 2025 non-GAAP tax rate for continuing operations to be in a range of 27% to 28%. The effective tax rate may be impacted by discrete items that could occur throughout the year.

Asset-Based Annual Union Profit-Sharing Bonus

As provided in ABF Freight’s current Teamster labor contract, for the full years of 2024 through 2027, ABF Freight’s Teamster employees are eligible for an annual profit-sharing bonus, as shown in the following table. The operating ratio (“OR”) used to calculate the bonus amount is on a GAAP basis. The potential bonus would be based on full-year union employee earnings. While impacted by business and associated labor levels which are subject to change, the estimate of one percent of the annual earnings for the ABF Freight union employees who are eligible for this benefit approximates $6 million - $6.5 million of union bonus expense.

During years in which ArcBest’s internal forecasts indicate an expectation of paying the union bonus, we will accrue for this expense throughout the year, generally in proportion of the quarterly results as a percentage of the annual projection. As we do not provide public updates on our projected operating ratio or our expectations for paying the union bonus, any details of amounts accrued will not be provided. If financial models reflect an operating ratio that meets the payout thresholds shown below, ArcBest encourages analysts to include expenses for the union bonus in quarterly and annual earnings per share projections for the company.


ABF Freight Published Annual OR (GAAP basis)	Bonus Amount
91.1 to 93.0	1%
89.1 to 91.0	2%
87.1 to 89.0	3%
87.0 or below	4%

“Other and eliminations” within Operating Income (Loss) on the Operating Segment Data and Operating Ratios statement

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Includes innovative technology costs related to our freight handling pilot program with third-party customers and human-centered remote and automated operations, which are typically disclosed as a non-GAAP reconciling item.

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It also includes expenses related to shared services including sales, yield, customer service, marketing, capacity sourcing functions, human resources, financial services, information technology, legal and other company-wide services.

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Projected amounts for first quarter and full year 2025 and actual amounts for first quarter and full year 2024 are included below.


	Three Months Ended				Year Ended
	March 31				December 31
	2025		2024		2025		2024

	(in millions)
Innovative technology costs, pre-tax (incl. financing costs)	$	9	$	10	$	30	$	34
Other costs, pre-tax	$	7	$	6	$	26	$	23
Total other and eliminations	$	16	$	16	$	56	$	57

Other Income (Costs) on the Consolidated Statements of Operations

●

Other income and costs include separate lines for interest income and interest expense.

●

The “Other, net” line primarily includes changes in cash surrender value of life insurance, expenses associated with non-operating properties, and the first quarter 2024, a $28.7 million, pre-tax, noncash impairment charge to write off our equity investment in Phantom Auto, a provider of human-centered remote operation software, which ceased operations.

●

The changes in cash surrender value of life insurance and the equity investment impairment charge are typically disclosed as non-GAAP reconciling items.

●

As such, the non-GAAP amounts for “Other, net” are expected to be minimal.

●

Projected amounts for first quarter and full year 2025 and actual amounts for first quarter and full year 2024 are included below.


	Three Months Ended				Year Ended
	March 31				December 31
	2025		2024		2025		2024

	(in millions)
Interest and dividend income	$	1	$	3	$	4	$	12
Interest and other related financing costs	$	(3)	$	(2)	$	(11)	$	(9)
Other, net, excluding non-GAAP reconciling items	$	—	$	(1)	$	—	$	(3)

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 exhibit 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,” “estimate,” “expect,” “forecast,” “foresee,” “intend,” “may,” “plan,” “predict,” “project,” “scheduled,” “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. 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: the effects of a widespread outbreak of an illness or disease or any other public health crisis, as well as regulatory measures implemented in response to such events; 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, acts of war or terrorism, or military conflicts; data privacy breaches, cybersecurity incidents, and/or failures of our information systems, including disruptions or failures of services essential to our operations or upon which our information technology platforms rely; interruption or failure of third-party software or information technology systems or licenses; untimely or ineffective development and implementation of, or failure to realize the potential benefits associated with, new or enhanced technology or processes, including our customer pilot offering of Vaux; the loss or reduction of business from 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 any recent or future acquisitions and the inability to realize the anticipated benefits of the acquisition within the expected time period or at all; unsolicited takeover proposals, proxy contests, and other proposals/actions by activist investors; maintaining our corporate reputation and intellectual property rights; nationwide or global disruption in the supply chain resulting in increased volatility in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of equipment, including new revenue equipment, decreases in value of used 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; governmental regulations; environmental laws and regulations, including emissions-control 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; 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; increasing costs due to inflation and higher interest rates; 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”).

Exhibit 99.3

4Q’24 Earnings Presentation

Forward Looking Statements 2 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 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,” “estimate,” “expect,” “forecast,” “foresee,” “intend,” “may,” “plan,” “predict,” “project,” “scheduled,” “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. 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: the effects of a widespread outbreak of an illness or disease or any other public health crisis, as well as regulatory measures implemented in response to such events; 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, acts of war or terrorism, or military conflicts; data privacy breaches, cybersecurity incidents, and/or failures of our information systems, including disruptions or failures of services essential to our operations or upon which our information technology platforms rely; interruption or failure of third-party software or information technology systems or licenses; untimely or ineffective development and implementation of, or failure to realize the potential benefits associated with, new or enhanced technology or processes, including our customer pilot offering of Vaux; the loss or reduction of business from 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 any recent or future acquisitions and the inability to realize the anticipated benefits of the acquisition within the expected time period or at all; unsolicited takeover proposals, proxy contests, and other proposals/actions by activist investors; maintaining our corporate reputation and intellectual property rights; nationwide or global disruption in the supply chain resulting in increased volatility in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of equipment, including new revenue equipment, decreases in value of used 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; governmental regulations; environmental laws and regulations, including emissions-control 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; 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; increasing costs due to inflation and higher interest rates; 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.

Three-Point Strategy Continues to Deliver Shareholder Value & Drive Business Growth 3 1 2 3 ENHANCED SHAREHOLDER VALUE Increase Efficiency Leverage technology Optimize ABF network Drive scale and productivity to improve Asset-Light operating margin Drive Innovation Develop and implement disruptive and game changing innovations Launch new revenue streams Co-create and scale with customers Accelerate Growth Secure new customers to maximize profitability Expand with existing customers through market penetration Retain existing customers

International Shipping Full Truckload Warehousing & Distribution Less-than-Truckload Premium Logistics Expedite Shipping Final Mile $74B $124B $68B $55B $20B $5B $13B ARCBEST PROVIDES PREMIUM VALUE 4 Flexibility Efficiency Resiliency CUSTOMERS NEED & WANT ARCBEST’S INTEGRATED SOLUTIONS EXPAND MARKET OPPORTUNITY INTEGRATED APPROACH SEAMLESSLY CONNECTS MODES ArcBest Managed Transportation Solution Supply Chain Optimization • Managed Transportation • Product Launch ENABLES ARCBEST GROWTH 5x Larger Deals Improved Profitability Fastest Growing Solution Large Pipeline Opportunity Multi-Solution Deals

ARCBEST’S CUSTOMER-LED STRATEGY YIELDS RESULTS 5 Profit Revenue Single-Solution Accounts Cross-Sold Accounts >3x Revenue & Profit per account is over 3X higher in cross-sold accounts Revenue & Profit 3x 3x >70% Over 70% of our customers who use asset-light services also utilize our asset-based services Single-Solution Accounts Cross-Sold Accounts 5% Higher Customer Retention A customer-focused growth strategy enables faster and more efficient growth Asset-Light + Asset-Based Retention rates are 5 percentage points higher on cross-sold accounts than on single-solution accounts

Trained 5,000 Employees YEAR IN REVIEW – EXCELLENCE IN ACTION 6 Shipment Visibility Significant Efficiency Improvements Best On-Time Performance in Five Years >$4B Revenue Generated +30% -20% ETA Accuracy Customer Service Requests Exceeded Industry Benchmark for 19 Years 19x Claims Process #1 Website Ease of Use #1 Problem elimination process empowers employees to identify and resolve inefficiencies

8,820 8,820 8,955 9,254 9,497 135 299 243 113 8,500 8,700 8,900 9,100 9,300 9,500 9,700 2021 2022 2023 2024 2025 ✓ Enables Growth STRATEGIC INVESTMENTS IN TECHNOLOGY, FLEET AND FACILITIES 7 ~800 door expansion since 2021, with 243 adds in 2024, and another 113 in 2025 8,820 8,955 9,254 9,497 Projected Net New 9,610 Doors Since 2021 Existing Doors New Doors Legend: Modern Fleet • Lowers Total Cost of Ownership • Supports Long-Term Sustainability Dock Management Software Labor Planning Tools Right People. Right Place. Right Time. • Employee Level Productivity • Consistent Processes & Service Strategically Adding Capacity ✓ Improves Service ✓ Increases Efficiency

PRICING INTELLIGENCE AND INNOVATION ENHANCE YIELD 8 $0 $25 $50 Revenue/CWT $0 $275 $550 Revenue/Shipment Industry-Leading Innovation Value-Enhancing Solutions Improved Pricing Intelligence Led the industry in launching Space-Based Pricing in 2017 Core LTL Dynamic Tech Capability + Customer Obsession Large dataset with deep understanding of our costs provides shipment level pricing intelligence Improved Margins Efficient Capacity Utilization Profitable Growth for ABF T H I S E N A B L E S : Resulting in Strongest Pricing Metrics Among Competitors Peers ABF Legend: ~1.7x ~1.5x

Improvement in Asset-Based Operating Ratio(1) (Non-GAAP) Strategy in Action 9 (1) Operating Ratio adjusted for certain unusual items. See Reconciliations of GAAP to non-GAAP Financial Measures in the Additional Information section of this presentation. 97.9% 96.9% 93.3% 94.5% 94.2% 88.8% 86.4% 90.4% 91.2% 75% 80% 85% 90% 95% 2016 2017 2018 2019 2020 2021 2022 2023 2024 FREIGHT RECESSION COVID-19 IMPACTS FREIGHT RECESSION Union Pension Impact on OR 670 bps IMPROVEMENT Compared to 2016

LEADERSHIP CHANGES 10 Eddie Sorg named Chief Commercial Officer 30-year tenure with ArcBest Leading expanded commercial team – aligning our revenue engine across sales, marketing, yield and customer solutions Fosters increased collaboration and faster decision making Christopher Adkins named Chief Strategy Officer 12-year tenure with ArcBest Leading centralized strategy management and data science teams to quickly advance high-priority initiatives Enables faster innovation to optimize operational efficiency and increase productivity

Taking Action And Making Investments To Further Accelerate Growth 11 Organizational Updates for Increased Efficiency Investing for Accelerated Growth Growing sales force Expanding presence within small and middle-market segments Investing for Improved Service Expanding dedicated teams that provide support to top customers Further developing customer success and onboarding teams B U I L D I N G O N A S T R O N G F O U N D AT I O N 11 Enables faster decision making Fosters better collaboration Encourages focus on highest priorities 55% increase in pipeline during 2024 80% of revenue from customers with a 10+ year relationship

CONTINUALLY RAISING THE BAR ON EXCELLENCE 12 • Culture of continuous improvement • 40-years of using the Quality Process to drive efficiencies • Do-It-Right-The-First-Time • Problem Elimination Process • Relaunched commitment in 2024 as we accelerate into 2nd century • Increase in new employees through pandemic • Focused efforts on training and compliance beginning in our largest locations and expanding through the network Surpassed annual goal >2x in 2024 Process and compliance training exceeding expectations on net revenue impact Process and compliance training complete at ~7% of locations with additional locations planned beyond 2025 2024 Projected Net Savings 2024 Actual Net Savings Locations Completed 2025 Locations 2026 and Beyond

TRANSFORMING OPERATIONS THROUGH TECHNOLOGY 13 75 Projects in ABF Optimization Portfolio • 36% operationalized • 25% in pilot to expand stages City Route Optimization Phase 1 is Complete and Saving $13M+ Annually • Phases 2 and 3 Pilots Underway • Daily demand forecasting • Optimizing the pickup process Comprehensive portfolio of technology projects in progress to drive ongoing cost savings and service improvements • AI Appointment Scheduling • Truckload Quote Augmentation Tools • Improved Shipment Visibility 2021 2022 2023 2024 Idea Pilot Learn Refine Expand Operationalize $50K $13M+ Iterative approach for optimization efforts City Route Optimization Phase 1 Savings Per Year Per Year

Strategy in Action 14 Our strategy is delivering solid results Operating Income ($M) (Non-GAAP, Unaudited)(1)(2) Revenues ($B) (Unaudited)(1) Earnings Per Share (Non-GAAP, Unaudited)(1)(2) $2.9 $2.8 $2.8 $3.8 $5.0 $4.4 $4.2 2018 2019 2020 2021 2022 2023 2024 $154 $112 $123 $314 $468 $258 $203 2018 2019 2020 2021 2022 2023 2024 $4.05 $2.96 $3.28 $8.40 $13.52 $7.88 $6.28 2018 2019 2020 2021 2022 2023 2024 +44% +32% +55% 1) On February 28, 2023, the Company sold FleetNet America, Inc. (“FleetNet”), a wholly owned subsidiary of the Company. Historical results of FleetNet have been excluded from results for all periods presented. 2) See Reconciliations of GAAP to non-GAAP Financial Measures in the Additional Information section of this presentation.

Non-GAAP Operating Income (2) Key Metrics Q4 2024(1) 15 $1.0B ArcBest Consolidated Revenue $41.4M Non-GAAP Operating Income (2) $1.33 Non-GAAP Earnings per Diluted Share(2) -46% ARCBEST CONSOLIDATED (From Continuing Operations) 1) All comparisons are on a year-over-year basis. 2) See non-GAAP reconciliation in the Additional Information section of this presentation. Asset-Based Asset-Light -8% -49% -35M -5M

Key Metrics Q4 2024(1) 16 ASSET-BASED 1) All comparisons are on a year-over-year basis. $656M Revenue Average Increase on Contract Renewals and Deferred Pricing Agreements Daily Total Tonnage -7% Daily Total Shipments -1% Total Billed Rev/CWT +1% 4.5% $52.3M Operating Income 92.0% Operating Ratio 430 bps deterioration -40% -8% per day Weight/ Shipment -6%

17 4Q23 Operating Income (Non-GAAP) (1) 4Q24 Lower Revenue • Weight per Shipment • Higher Yield 4Q24 Higher Labor Contract Costs • Wages +2.5% • Benefits +2.9% 4Q24 Insurance • BIPD Claims 4Q24 Cost Savings • Cost Management • Incentive Alignment • Productivity • Network Efficiency • Profit Optimization 4Q24 Operating Income (Non-GAAP) (1) $88M ($54M) ($7M) ($9M) $35M $52M $M $10M $20M $30M $40M $50M $60M $70M $80M $90M $100M 4Q23 vs 4Q24 Operating Income Bridge (1) Operating Income adjusted for certain unusual items. See Reconciliations of GAAP to non-GAAP Financial Measures in the Additional Information section of this presentation. ASSET-BASED Q4 2024

Key Metrics 18 Daily Billed Revenue Total Billed Rev/CWT ASSET-BASED Daily Total Tonnage Daily Total Shipments -3% Total Billed Rev/Shipment Total Weight/Shipment -4% -1% J A N U A RY 2 0 2 5 P R E L I M I N A RY 1) All comparisons are on a year-over-year basis. -11% +8% -8% January 2025(1)

Purchased Transportation as % of Revenue Key Metrics Q4 2024(1) ASSET-LIGHT Revenue/ Shipment $375M Revenue -9% per day ($5.9M) Non-GAAP Operating Loss (2) ($4.2M) Adjusted EBITDA(2) 1) All comparisons are on a year-over-year basis. 2) See non-GAAP reconciliation in the Additional Information section of this presentation. 87% 19 -2% Daily Total Shipments -7% Shipments/ Employee/Day +21%

Key Metrics January 2025(1) 20 ASSET-LIGHT Revenue/Day -6% 1) All comparisons are on a year-over-year basis. Revenue/Shipment Daily Total Shipments -3% 87% -3% Purchased Transportation as % of Revenue J A N U A RY 2 0 2 5 P R E L I M I N A RY

21 BALANCED INVESTMENT APPROACH Strong business performance enables ArcBest to invest organically in the business and provide returns to shareholders while maintaining a solid balance sheet and investment-grade credit metrics Strategic Growth Investments Share Repurchases & Dividends M&A Strategy • Investing in real estate, equipment, and innovative projects to enhance revenue growth, optimize costs and drive long-term shareholder value • 2024 Net Capital Expenditures of $288M • Projected 2025 Net Capital Expenditures of approximately $225M-$275M • Increased share repurchase program authorization to $125 million in early 2024 • Currently paying a $0.12/share quarterly dividend • Returned $85 million to shareholders during 2024 • Complementary to our solutions offered • Strong culture fit, experienced leadership team and a pathway to solid returns • Strategic technology and innovative partnerships Solid Financial Position • Approximately $450M in Available Liquidity

EXCELLENCE IN ACTION 22 The Only 10x Winner ATA Excellence in Security

23 Note: ArcBest Corporation reports its financial results in accordance with generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP performance measures utilized for internal analysis provides analysts, investors, and others the same information that we use internally for purposes of assessing our core operating performance and provides meaningful comparisons between current and prior period results, as well as important information regarding performance trends. Accordingly, using these measures improves comparability in analyzing our performance because it removes the impact of items from operating results that, in management's opinion, do not reflect our core operating performance. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results. These financial measures should not be construed as better measurements than operating income (loss), operating cash flow, net income or earnings per share, as determined under GAAP. Reconciliations of GAAP to Non-GAAP Financial Measures (Unaudited) ADDITIONAL INFORMATION

Asset-Based 24 (Unaudited) RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES 2016 2017 2018 2019 2020 2021 2022 2023 2024 Asset-Based ($ millions, except percentages) Operating Income Amounts on a GAAP basis (1) $36.9 98.1% $57.9 97.1% $103.9 95.2% $102.1 95.2% $98.9 95.3% $260.7 89.9% $381.1 87.3% $253.2 91.2% $242.6 91.2% Restructuring charges, pre-tax (2) 1.2 (0.1) 0.3 - - - - - - - - - - - - - - - Multiemployer pension withdrawal liability charge, pre-tax (3) - - - - 37.9 (1.7) - - - - - - - - - - - - Innovative technology costs, pre-tax (4) 1.9 (0.1) 3.0 (0.1) 3.8 (0.2) 13.7 (0.6) 22.5 (1.1) 27.6 (1.1) 27.2 (0.9) 21.7 (0.8) - - ELD conversion costs, pre-tax (5) - - - - - - 2.7 (0.1) - - - - - - - - - - Nonunion vacation policy enhancement, pre-tax (6) - - - - - - - - - - - - 1.2 - - - - - Nonunion pension termination costs, pre-tax (7) - - - - - - 0.3 - - - - - - - - - - - Asset impairment charges, pre-tax (8) - - - - - - - - - - - - - - 0.7 - - - Non-GAAP amounts (9) $39.9 97.9% $61.2 96.9% $145.6 93.3% $118.8 94.5% $121.3 94.2% $288.3 88.8% $409.6 86.4% $275.5 90.4% $242.6 91.2% 1) Operating Income for 2016-2017 has been adjusted for the January 1, 2018 adoption of an amendment to ASC Topic 715 which requires the components of net periodic benefit cost other than service cost for our pension, SBP and postretirement plans to be presented within Other Income (Costs) in the consolidated financial statements and, therefore, excluded from Operating Income presented in this table. 2) Restructuring charges relate to the realignment of the Company’s organizational structure announced in November 2016. 3) Represents a one-time charge recognized in June 2018 for the multiemployer pension fund withdrawal liability resulting from the transition agreement ABF Freight, Inc. entered into with the New England Teamsters and Trucking Industry Pension Fund. 4) Represents costs associated with the freight handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023. 5) Impairment charges related to equipment replacement and other one-time costs incurred to comply with the electronic logging device (“ELD”) mandate which became effective in December 2019. 6) Represents a one-time, noncash charge for enhancements to our nonunion vacation policy which were effective third quarter 2022. 7) Consulting fee incurred in third quarter 2019 associated with the termination of the nonunion defined benefit pension plan. 8) Represents noncash lease-related impairment charges for an Asset-Based service center that was made available for sublease. 9) Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP and the non-GAAP adjustments due to rounding.

25 (Unaudited) RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES* 2018 2019 2020 2021 2022 2023 2024 ArcBest Corporation – Consolidated ($ millions) Operating Income Amounts on a GAAP basis $ 103.6 $57.9 $ 93.7 $ 277.0 $ 394.5 $ 172.6 $ 244.4 Restructuring charges, pre-tax (2) 1.7 - - - - - - Transaction costs, pre-tax (3) - - - 6.0 - - - Multiemployer pension withdrawal liability charge, pre-tax (4) 37.9 - - - - - - Gain on sale of subsidiaries, pre-tax (5) (1.9) - - (6.9) (0.4) - - Innovative technology costs, pre-tax (6) 8.5 20.7 25.6 32.8 40.8 52.4 34.1 ELD conversion costs, pre-tax (7) - 2.7 - - - - - Nonunion pension termination costs, pre-tax (8) - 0.3 - - - - - Purchase accounting amortization, pre-tax (9) 4.2 4.2 3.7 5.3 12.9 12.8 12.8 Change in fair value of contingent consideration, pre-tax (10) - - - - 18.3 (19.1) (90.3) Legal settlement, pre-tax (11) - - - - - 9.5 0.3 Nonunion vacation policy enhancement, pre-tax (12) - - - - 2.0 - - Asset impairment charges, pre-tax (13) - 26.5 - - - 30.2 1.7 Non-GAAP amounts (14) $ 154.0 $ 112.3 $ 123.1 $ 314.1 $ 468.1 $ 258.3 $ 203.0 ArcBest Consolidated (continuing operations)(1) *See “Notes to Non-GAAP Financial Tables” for footnotes to this ArcBest Corporation – Consolidated non-GAAP table

26 ArcBest Consolidated (continuing operations)(1) (Unaudited) RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES* 2018 2019 2020 2021 2022 2023 2024 ArcBest Corporation – Consolidated Diluted Earnings Per Share Amounts on a GAAP basis $ 2.35 $ 1.33 $ 2.55 $ 7.86 $ 11.56 $ 5.77 $ 7.28 Restructuring charges, after-tax (2) 0.05 - - - - - - Transaction costs, after-tax (3) - - - 0.16 - - - Multiemployer pension withdrawal liability charge, after-tax (4) 1.05 - - - - - - Gain on sale of subsidiaries, after-tax (5) (0.05) - - (0.20) (0.01) - - Innovative technology costs, after-tax (includes related financing costs) (6) 0.24 0.59 0.74 0.93 1.21 1.61 1.10 ELD conversion costs, after-tax (7) - 0.08 - - - - - Nonunion pension termination costs, after-tax (8) - 0.01 - - - - - Purchase accounting amortization, after-tax (9) 0.12 0.12 0.11 0.15 0.38 0.39 0.40 Change in fair value of contingent consideration, after-tax (10) - - - - 0.54 (0.58) (2.85) Legal settlement, after-tax (11) - - - - - 0.29 0.01 Nonunion vacation policy enhancement, after-tax (12) - - - - 0.06 - - Asset impairment charges, after-tax (13) - 0.75 - - - 0.92 0.05 Change in fair value of equity investment, after-tax (15) - - - - - (0.11) 0.91 Nonunion pension expense, including settlement expense, after-tax (16) 0.51 0.30 - - - - - Life insurance proceeds and changes in cash surrender value - (0.14) (0.09) (0.15) 0.11 (0.19) (0.14) Tax expense (benefit) from vested RSUs (17) (0.03) 0.02 0.02 (0.29) (0.32) (0.21) (0.47) Tax credits (18) (0.05) (0.10) (0.05) (0.06) 0.01 - - Impact of 2017 Tax Reform Act (19) (0.14) - - - - - - Non-GAAP amounts (14) $ 4.05 $ 2.96 $ 3.28 $ 8.40 $ 13.52 $ 7.88 $ 6.28 *See “Notes to Non-GAAP Financial Tables” for footnotes to this ArcBest Corporation – Consolidated non-GAAP table

27 ArcBest Consolidated (continuing operations)(1) Notes to Non-GAAP Financial Tables The following footnotes apply to the non-GAAP financial tables on slides 25 and 26 in this presentation. 1) Historical results of FleetNet have been excluded from results for all periods presented, and reclassifications have been made to the prior-period financial statements to conform to current-year presentation. 2) Restructuring charges relate to the realignment of the Company’s organizational structure announced in November 2016. 3) Represents costs associated with the November 1, 2021, acquisition of MoLo Solutions, LLC. 4) Represents one-time charge recognized in June 2018 for the multiemployer pension fund withdrawal liability resulting from the transition agreement ABF Freight, Inc. entered into with the New England Teamsters and Trucking Industry Pension Fund. 5) Gains associated with the December 2017 and April 2021 divestures of moving services subsidiaries for which the gains were recognized in third quarter 2017 and 2018 and second quarter 2021, respectively, when the contingent consideration was received on the transactions, as well as including the contingent amount recognized in second quarter 2022 when the funds were released to escrow. 6) Represents costs related to our customer pilot offering of Vaux and initiatives to optimize our performance through technological innovation. The 2018-2023 periods also include costs associated with the freight handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023. Costs for 2018-2020 have been adjusted to conform to the current-year presentation. 7) Impairment charges related to equipment replacement and other one-time costs incurred to comply with the electronic logging device (“ELD”) mandate which became effective in December 2019. 8) Consulting fee incurred in third quarter 2019 associated with the termination of the nonunion defined benefit pension plan. 9) Represents the amortization of acquired intangible assets in the Asset-Light segment. 10) Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition. 11) Represents settlement expenses related to the classification of certain Asset-Light employees under the Fair Labor Standards Act, which were paid during first quarter 2025. 12) Represents a one-time, noncash charge for enhancements to our nonunion vacation policy which were effective third quarter 2022. 13) The 2024 periods represent noncash asset impairment charges for certain revenue equipment and software recognized during fourth quarter 2024 as part of a strategic decision to adjust capacity within Asset-Light’s operations. The 2023 period represents noncash lease-related impairment charges for a freight handling pilot facility, an Asset-Based service center, and Asset-Light office spaces that were made available for sublease. The 2019 period represents a noncash impairment charge recognized in fourth quarter related to a portion of the goodwill, customer relationship intangible assets, and revenue equipment associated with the acquisition of truckload brokerage and truckload dedicated businesses within the Asset-Light segment. 14) Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP and the non-GAAP adjustments due to rounding. 15) For the year ended December 31, 2024, represents a noncash impairment charge to write off an equity investment in Phantom Auto, a provider of human-centered remote operation software, which ceased operations during first quarter 2024. For the year ended December 31, 2023, represents the increase in fair value of an investment in Phantom Auto based on observable price changes during second quarter 2023. 16) Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP and the non-GAAP adjustments due to rounding. 17) Represents nonunion pension expense, including pension settlement and termination expense, related to the Company’s nonunion defined benefit pension plan for which plan termination was completed in 2019. Also includes pension settlement expense related to the Company’s supplemental benefit plan. 18) Represents recognition of the tax impact for the vesting of share-based compensation. 19) Represents tax credits recognized in the tax provision which relate to a prior tax year due to timing of recognition or retroactive reinstatement of the tax credits. Includes amounts related to alternative fuel tax credit in 2018, 2019 and 2022. Includes amounts related to research and development tax credit in 2019, 2020 and 2021. The 2022 period also includes amounts related to the alternative fuel tax credit for the year ended December 31, 2021 which were recorded in third quarter 2022. 20) Impact on current or deferred income tax expense as a result of recognizing the tax effects of the Tax Cuts and Jobs Act that was signed into law on December 22, 2017.

ARCBEST CORPORATION - CONSOLIDATED Three Months Ended Millions ($000,000), except per share data 12/31/2024 12/31/2023 Operating Income from Continuing Operations Amounts on a GAAP basis $ 38.2 $ 64.3 Innovative technology costs, pre -tax (1) 7.6 11.0 Purchase accounting amortization, pre -tax (2) 3.2 3.2 Change in fair value of contingent consideration, pre -tax (3) (9.5) (6.3) Asset impairment charges, pre -tax (4) 1.7 - Legal settlement, pre -tax (5) 0.3 9.5 Non -GAAP amounts (6) $ 41.4 $ 81.7 Net Income from Continuing Operations Amounts on a GAAP basis $ 29.0 $ 48.8 Innovative technology costs, after -tax (includes related financing costs) (1) 5.8 8.4 Purchase accounting amortization, after -tax (2) 2.4 2.4 Change in fair value of contingent consideration, after -tax (3) (7.2) (4.7) Asset impairment charges, after -tax (4) 1.3 - Legal settlement, after -tax(5) 0.2 7.1 Life insurance proceeds and changes in cash surrender value (0.3) (1.8) Tax expense (benefit) from vested RSUs (7) (0.0) (0.2) Non -GAAP amounts (6) $ 31.2 $ 60.0 Diluted Earnings Per Share from Continuing Operations Amounts on a GAAP basis $ 1.24 $ 2.01 Innovative technology costs, after -tax (includes related financing costs) (1) 0.25 0.34 Purchase accounting amortization, after -tax (2) 0.10 0.10 Change in fair value of contingent consideration, after -tax (3) (0.30) (0.20) Asset impairment charges, after -tax (4) 0.05 - Legal settlement, after -tax(5) 0.01 0.29 Life insurance proceeds and changes in cash surrender value (0.01) (0.07) Tax expense (benefit) from vested RSUs (7) - (0.01) Non -GAAP amounts (6) $ 1.33 $ 2.47 Reconciliations of GAAP to Non -GAAP Financial Measures (Unaudited) 28 1) Represents costs related to our customer pilot offering of Vaux and initiatives to optimize our performance through technological innovation. The 2023 period also includes costs associated with the freight handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023. 2) Represents the amortization of acquired intangible assets in the Asset -Light segment. 3) Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition. 4) The 2024 periods represent noncash asset impairment charges for certain revenue equipment and software recognized during fourth quarter 2024 as part of a strategic decision to adjust capacity within Asset -Light’s operations. 5) Represents settlement expenses related to the classification of certain Asset - Light employees under the Fair Labor Standards Act, which were paid during first quarter 2025. 6) Non -GAAP amounts are calculated in total and may not equal the sum of GAAP amounts and non -GAAP adjustments due to rounding. 7) Represents recognition of the tax impact for the vesting of share -based compensation.

Reconciliations of GAAP to Non-GAAP Financial Measures (Unaudited) 29 1) Represents the amortization of acquired intangible assets in the Asset-Light segment. 2) Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition. 3) Represent noncash asset impairment charges for certain revenue equipment and software recognized during fourth quarter 2024 as part of a strategic decision to adjust capacity within Asset-Light’s operations. 4) Represents settlement expenses related to the classification of certain Asset-Light employees under the Fair Labor Standards Act, which were paid during first quarter 2025. 5) Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP amounts and the non-GAAP adjustments due to rounding. 6) Adjusted EBITDA is a primary component of the financial covenants contained in ArcBest Corporation’s Fourth Amended and Restated Credit Agreement. Management believes Adjusted EBITDA to be relevant and useful information, as EBITDA is a standard measure commonly reported and widely used by analysts, investors, and others to measure financial performance and ability to service debt obligations. Furthermore, management uses Adjusted EBITDA as a key measure of performance and for business planning. However, these non-GAAP financial measures should not be construed as better measurements than operating income (loss), operating cash flow, net income, or earnings per share, as determined under GAAP. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results. Other companies may calculate EBITDA differently; therefore, our Adjusted EBITDA may not be comparable to similarly titled measures of other companies. 7) Includes amortization of intangibles associated with acquired businesses. 8) Adjusted EBITDA amounts are calculated in total and may not equal the sum of Consolidated Net Income from Continuing Operations or Asset-Light Income (Loss) and the adjustments due to rounding. Three Months Ended ASSET-LIGHT ADJUSTED EBITDA (6) 12/31/2024 12/31/2023 ($ millions) Operating Income (Loss) $ (1.6) $ (7.7) Depreciation and amortization (7) 4.9 5.1 Change in fair value of contingent consideration (2) (9.5) (6.3) Asset impairment charges (3) 1.7 - Legal settlement (4) 0.3 9.5 Adjusted EBITDA (8) $ (4.2) $ 0.7 Three Months Ended ASSET-LIGHT OPERATING INCOME (LOSS) 12/31/2024 12/31/2023 ($ millions) Amounts on a GAAP basis $ (1.6) 100.4% $ (7.7) 101.9% Purchase accounting amortization, pre-tax (1) 3.2 (0.9) 3.2 (0.8) Change in fair value of contingent consideration, pre-tax (2) (9.5) 2.5 (6.3) 1.5 Asset impairment charges, pre-tax (3) 1.7 (0.5) - - Legal settlement, pre-tax (4) 0.3 (0.1) 9.5 (2.3) Non-GAAP amounts (5) $ (5.9) 101.6% $ (1.3) 100.3%