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Sep 30, 2020
ArcBest Q3 2020 Earnings Report
ArcBest's Q3 2020 performance was marked by increased revenue and profitability, driven by improving business trends in both Asset-Based and Asset-Light segments.
Key Takeaways
ArcBest reported Q3 2020 revenue of $795.0 million, a slight increase from $787.6 million in Q3 2019. The company's net income rose to $29.4 million, or $1.11 per diluted share, compared to $16.3 million, or $0.62 per diluted share, in the same period last year. Non-GAAP net income was $32.4 million, or $1.22 per diluted share, compared to $27.0 million, or $1.02 per diluted share, in Q3 2019.
Third quarter revenue reached $795.0 million with net income at $29.4 million, or $1.11 per diluted share.
Non-GAAP net income for the third quarter was $32.4 million, equating to $1.22 per diluted share.
Improved business trends led to enhanced profitability in both the Asset-Based and Asset-Light segments.
ArcBest's consolidated cash and short-term investments, less debt, improved by $18 million during the third quarter, reaching $59 million.
ArcBest
ArcBest
ArcBest Revenue by Segment
Revenue by Segment
Asset-Based Revenue
CapyFin.comAsset-Light Revenue
CapyFin.com Forward Guidance
ArcBest anticipates sustaining the momentum of the third quarter and continuing to profitably grow the company.
Revenue & Expenses
Visualization of income flow from segment revenue to net income