ArcBest, a multi-billion dollar logistics company based in Fort Smith, has released its earnings report for the second quarter of 2022.
- Second quarter 2022 revenue was 1.4 billion, up $444 million or 46.8% from second quarter 2021.
- Net income increased to $102.5 million, or $4.00 per diluted share, up from $61 million, or $2.27 per diluted share in the second quarter of 2021.
- At least double-digit percentage revenue growth from all operating segments over the past year.
- Total tonnage per day increase of 3.7 percent, including an increase of 0.9 percent in LTL-rated weight per shipment over the past year.
“ArcBest’s talented and dedicated team has been successfully executing our strategy, delivering strong financial results and driving value-enhancing growth for the benefit of our shareholders, customers and other stakeholders. The second quarter of 2022 was no exception, as we achieved 47% revenue growth due to increasing demand for our broad offering of transportation and logistics services,” Judy R. McReynolds, ArcBest chairman, president and CEO, said. “As our customers’ supply chains become even more complex and economic pressures increase, our strategic focus on technology, innovation and the development of our people positions us to thrive in all environments. By advancing our strategic plan and investing capital back into the business, we continue to differentiate ArcBest and position our company as a logistics leader, our customers’ partner of choice, and a consistent generator of superior value for investors.”
For more information and the full report, click here.